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 hospitality Industry
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Hospitality industry - Overview
The hospitality industry is the umbrella term for the service industry which includes tourism, hotels, lodging, restaurants, bars, etc. it caters to serving people through its myriad services. It is one of the fastest developing industries because of its nature.
The hospitality industry provides its services far and wide. Their primary goal is to accommodate customers and make their stay/ time enjoyable with their services. There are a number of employees involved in making the hospitality industry a success. More than 3.5 Lac companies are present in India that take care of the hospitality industry. Around 4.07 Lac people are employed in companies with 0 - 100 employees. Additionally, 3.04 Lac and 3.09 Lac people work for companies with 100 - 1000 and 1000+ employees.
Why buy group health insurance for the hospitality industry?
Group health insurance is a great way to boost your employees’ morale and for employers alike. The employees can also include their family members including their spouse, children, and parents/ in-laws.
- Tailor-made plans
You can customize your group health insurance policy according to your requirements. In simple words, you pay for what you choose.
- Employer branding
Offering group health insurance on top of salary will create a sense of goodwill and attract talents from a wider range.
- Employee retention
Your employees are more likely to stick with your company if they are getting health benefits and other incentives as well.
- Tax benefits
You can claim tax benefits if you pay towards group health insurance premium for your employees.
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Things to know before buying group health insurance for the hospitality industry
With the advent of the insurtech sector, you can easily buy insurance from the comfort of your home. You might get overwhelmed by the number of options available in the market, but there are some things you can keep in mind to make the purchasing decision easier.
- Claim settlement ratio
The CSR is simply the number of claims settled to the number of claims received. It proves the credibility of the insurer.
- Network hospitals
A long list of network hospitals means that your employees can easily locate one near their location.
- Add-on benefits
You can add many other benefits to your base policy at a minimum premium amount. Make sure to check the add-on benefits while purchasing a group health insurance policy.
- Ease of endorsements
Adding new employees should be a hassle-free process. Choose an insurer that does not involve a third-party administrator.
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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 hospitality industry employees FAQs
Who are eligible for group health insurance?
Every employee above the age of 18 is eligible for group health insurance.
Why should health insurance be given to employees?
Providing health benefits to your employees will help you retain them for a longer period of time. The employees will feel comfortable in their jobs and their productivity will not be hampered in times of emergency.
Are there any exclusions in the group health insurance policy?
Yes, there are some exclusions in group health insurance policies like cosmetic surgeries and self-harm. You must check with your insurer to check the exclusions in your policy.
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