The Future of Health Insurance: How Flexibility Can Make Employee Benefits Better
Learn how flexible health insurance plans at workplace can make a difference.
By Pazcare
October 14, 2024
Group Health Insurance - For the facilities services industry
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Facilities Services Industry - Overview
The facilities services industry is a vast industry that provides its services to the industrial, commercial, and residential audiences. The services provided include sanitation, maintenance, repair, security, pest control, landscaping, etc among others.
The demand for such services has increased in the last couple of years because of the increased reliability and availability of the expertise the workers bring. Lately, the facilities management sector has also incorporated technology to increase their clientele and make the processes more efficient and effective.
India has over 4.7K companies engaged in the facilities services industry, which provides employment and services to a large group of people. About 7.1K individuals are a part of companies having less than 100 employees whereas 4.3K people are working in companies having 100 - 1000 employees. Not many large-scale companies are there yet in the facilities services industry as only about 3.2K people are employed in companies with 1000+ employees.
Why buy group health insurance for the facilities services industry?
Healthcare facilities are becoming more expensive by the day. Affordable healthcare options have declined due to various reasons like inflation and lack of proper resources. Show your employees that you care by offering them group health insurance benefits that not only provide financial coverage to them but also to their dependents as well.
- Tailor-made benefits
Your group health insurance is customizable. In other words, you only pay for what you choose.
- Financial assistance
Offering group health insurance to your employees will give them financial aid during a medical urgency.
- Employee retention
Providing your employees' group health insurance along with their salaries and other incentives will help in improving the employee retention rate.
- Job satisfaction
Having health benefits is proven to play a great role in employee satisfaction.
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Things to know before buying group health insurance for the facilities services industry
There are some things you should keep in mind before investing in a group health insurance policy for your employees.
- Claim settlement ratio
A high claim settlement ratio implies that the claims process is easier and smooth.
- Claims experience
Ensure that the claims process is seamless as you don’t want your employees to suffer because of claim settlement.
- Add-on benefits
Ensure that there are sufficient add-on benefits available to cover more medical procedures.
- Network hospitals coverage
A large hospital network helps in finding one closer to your remote teams' location.
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For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Pazcare
91 80378 34753
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Group health insurance for facilities services industry employees FAQs
What is the difference between individual insurance and group health insurance?
Individual health insurance is bought by an individual on their own. But a group health insurance policy is provided by an employer to his or her employees. The premium amount is paid by the employer.
How is the group health insurance premium calculated?
Group health insurance premium is calculated by keeping in mind various parameters such as average age of employees, sum insured, dependents covered, the number of add-ons added, etc.
Is cosmetic surgery included in a group health insurance?
No, group health insurance does not cover cosmetic or plastic surgeries.
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