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 machinery industry
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Machinery Industry - Overview
The machinery industry includes the maintenance and repair of machinery used in chemical, industrial, and other industries. It caters to a wide range of industries as it provides machinery for domestic use, factory equipment, and the like.
The machinery industry also deals with the manufacture of large-scale machinery and equipment used in power plants, trucks, concrete rollers, etc. The goods are called capital goods because capital is invested in them. Around 6.58 Lac companies provide heavyweight machinery and types of equipment for various purposes. The industry has also given employment to Lacs of people -
- 0-100 employees - 1.14 Lac
- 100-1000 employees - 9.51 Lac
- 1000+ employees - 3.31 Lac
Why buy group health insurance for the machinery industry employees?
The machinery industry requires a lot of specialization on the employees’ part, as the machine needs to be made error-free. The employees are prone to face burnout. Many health problems can also surface because of the same. Offer your employees a group health insurance policy so that they remain stress-free in budgetary constraints during any medical emergency.
- Employee productivity
The productivity and efficiency of your employees will not get negatively impacted in case of any hospitalization as they will already have the required financial aid.
- Employer branding
Offering health benefits along with salary will create goodwill and improve your standing as a brand.
- Customized plans
You can get group health insurance customized to suit your employees’ requirements.
- Tax benefits
As an employer, if you pay the premium towards group health insurance for your employees, you can use the amount to avail of tax benefits.
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Things to know before buying group health insurance for the machinery industry
We can get a number of insurance policies with just a single click. Make sure to compare the different policies on the below-mentioned parameters to make an informed decision.
- Network hospital list
It is important to have a large hospital network chain for your employees to easily locate and get treated in a cashless network hospital near them.
- Claims experience
Ensure a smoother claims experience by choosing an insurer with no external TPA.
- Add-on benefits
Always look for additional benefits like dental cover, maternity cover, etc which the insurer is willing to offer.
- Easy endorsements
You should be able to add and manage employees easily in the group health insurance policy. The endorsement process should be handled seamlessly.
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For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Pazcare
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Group health insurance for machinery industry employees FAQs
Does group health insurance cover organ transplantation?
The group health insurance may cover the cost of organ transplant surgery for up to the sum insured. You must check with your insurer to check if a clause relating to the same is included or excluded in your group health insurance policy.
How does group health insurance work?
The group health insurance provides the same coverage to members of an organization. The policy is bought by the employer for his or her employees. Hence the premium is also borne by the employer. The employees can choose to add their dependent family members to their policy as well. Unless any add-on benefits are added, all the members endorsed in group health insurance have the same sum insured.
What is the health insurance policy period?
The group health insurance is generally for one year, but it can be increased. It may vary from insurer to insurer.
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