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Corporate Health Insurance

A modern employee benefits plan built for post-Covid era

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Corporate health insurance can evoke a sense of financial security in an employee and fuel better employee-employer relationships, becoming a factor leading to enhanced performance and strengthened bottom-line numbers.

What is corporate health insurance? 

Corporate health insurance caters to the health insurance needs of the employees of your organisation. As an employer, you pay the premium for the corporate health insurance policy and decide the coverage benefits and sum insured of the plan. You may also decide to allow certain optional coverages for the employees to choose from. Employees pay an additional premium to avail the optional coverages.

Before the COVID-19 pandemic, offering health insurance to employees was not mandatory. However, some companies provided a basic health plan as a prerequisite of being associated with the company and to retain top talent. Since the COVID-19 pandemic, the world has witnessed how a health issue can have adverse effects on one’s overall life. Taking notice of this, the insurance regulator (IRDAI) has issued a mandate regarding health insurance for employees. As per the mandate, companies that have a workplace with active staff must provide comprehensive health insurance with an adequate sum insured.

ACKO’s corporate health insurance: What’s in it for employers?

Here is the list of features and benefits of being insured under ACKO’s corporate health insurance.

  1. Everything digital: Thanks to ACKO's digital infrastructure, you are relieved of setting up an admin team to manage claims and onboarding. With easy self-serve enrolment via the ACKO app, your employees can customise and manage their policies. Plus, they can raise claims via the app from anywhere and anytime.

  2. Plans that are not limited to claims: ACKO’s corporate health insurance plans cater to all of your workforces and help them lead a healthy lifestyle while fulfilling all the standard health insurance needs. ACKO’s corporate health insurance plan is a perfect mix of insurance and wellness benefits.

  3. Custom plans: Creating customised health insurance plans as per your choice is possible with ACKO’s corporate health insurance. You can pick and choose coverage while allowing your employees to opt-in for add-ons. Since the employees will bear the cost of additional coverage, you can offer them the freedom to choose these coverages without increasing your quote.

  4. Flexible payments: When you buy ACKO’s corporate health insurance for your employees, you don't have to pay the premium up front. You can opt-in for monthly, quarterly, semi-annual, or annual payment options.

ACKO’s corporate health insurance: What’s in it for employees?

Here is the list of features and benefits of being insured under a corporate health insurance policy.

  1. Digital health insurance: Everything is 100% paperless, simple and accessible with the ACKO app. Employees can access ACKO's website (www.acko.com) or download the mobile app to access the services. Digital insurance is also more reliable, convenient, and faster as compared to the traditional offline insurance processes.

  2. Paperless process: One of the most tedious parts of raising a health insurance claim is the documentation. At ACKO, we have eliminated physical documentation. Employees simply need to access their ACKO profile and upload the softcopies of necessary documents. Additionally, ACKO’s digital infrastructure enables faster claim settlement.

  3. Wide network of medical centres: ACKO has a wide network of medical professionals, test centres, and hospitals where your employees can avail of cashless services. We have a tie-up with over 6,500 hospitals, 4,500 labs for diagnosing a health issue, and more than 35,000 doctors for teleconsultations. 

Importance and features of online corporate health insurance from ACKO

Your employees are entitled to the host of wellness benefits with ACKO’s corporate health insurance plan.

Customisation with ACKO’s corporate health insurance plan

Corporate health insurance plans at ACKO are highly customisable in nature. We offer the option to pick and choose coverage for creating tailor-made plans which cater to your objectives.

What are the exclusions of a corporate health insurance plan?

Following are the exclusions of a corporate health insurance plan.

Eligibility criteria for corporate health insurance

The employees have no other eligibility criteria except being employed with the organisation that is providing the health insurance policy. They can avail of health insurance benefits against corporate health insurance until they are associated with the company. The policy will cease to exist with the end of this association.

How to buy corporate health insurance?

Employers or human resource (HR) personnel get in touch with ACKO by sending an email to [email protected] or by calling 1800-266-2256. We will guide you in selecting coverage and explain the multiple benefits of buying corporate health insurance from ACKO.

Things to consider while buying a corporate health insurance

As an employer, you need to look at a few things while scouting your employees' right corporate health plan. 

  1. Employee’s profile: Assess your employee’s profile based on their age, location, health habits, health history etc. If most of your employees belong to Gen X and reside in metro cities, you may want to consider a more comprehensive plan with a high sum insured amount that can match the rising healthcare costs in the cities.

  2. Premium that you pay: The plan you select should offer you value for money and offer flexibility in terms of premium payment. It is a good idea to go with the insurance company that can provide holistic coverage at affordable premium rates with the flexibility to pay the premium amount on a monthly, quarterly, bi-annually, or annual basis.

  3. Wellness benefits: Most of the time, corporate health insurance is utilised only by a small section of employees. This leads to the underutilisation of the plan. Offering a host of wellness benefits such as teleconsultations with doctors, access to mental health experts, fitness tracking, discounted pharmacy, and diagnostic tests can help keep your team fit and offer an all-inclusive healthcare solution. Note: A healthy team will lead to a low number of claims, which means a low premium amount at the time of renewal.

  4. Ease and convenience: Select an insurer that simplifies the journey for you. New-age insurers like ACKO offer 100% paperless, 100% support and 0% form-filling experience. This offers ease and convenience not just to you, but to your team as well.

  5. Zero admin hassles: We like to keep everything digital. From the self-serve enrolment process, customisation of the policy to raising claims and tracking them - your employees can access a host of these features with just a few clicks. This also reduces the admin hassles for you.

FAQs about corporate health insurance

Here is a list of questions related to corporate health insurance.

How does corporate health insurance work in India?

In India, corporate health insurance is the other name for Group Health Insurance Policy that insures the employees and their dependents up to a fixed amount of sum insured. This is usually a floater plan and the premium is paid by the employer.

Do employees have to pay for availing of corporate health insurance?

Usually, the employees do not have to pay the premium to avail of standard corporate health insurance coverage as it is paid by the employer. Employees just have to bear the cost of any additional cover that they voluntarily opt for.

CIN: U66000KA2016PLC138288

IRDAI Registration No: 157

Category: Non-Life Insurance

The use of images and brands are only for the purpose of indication and illustration. ACKO claims no rights on the IP rights of any third parties. The ratings are derived from reviews and feedback received from Google and Facebook users on their respective platforms. | *Savings of upto Rs. 50,000 have been calculated on the IDV of Rs. 18,00,000 and 0% NCB. Amount saved is in comparison to tariff rates. Product name: Private Car Policy - Bundled | UIN: IRDAN157RP0014V01201819 |

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