What should I look into when choosing health insurance policy for my staff?
When choosing a policy, go for a group health insurance plan, it’s cheaper than individual policies and covers all staff under one policy. Aim for a sum insured of at least ₹3–5 lakhs per person, and check that hospitals near your work locations are in the insurer’s network for cashless treatment. Read the exclusions carefully, particularly waiting periods for pre-existing conditions, and look at the insurer’s claim settlement record before deciding. Don’t just go for the cheapest option.
If budget allows, check whether family members can be added at a reasonable extra cost.