Health is wealth is what the wise men said. And health is wealth is what the clever employers believe. The employers know that for each workday lost by an employee due to illness can cause some loss to the company. It is never desirable and punishing an employee for absence due to illness is inhuman, unethical and will certainly attract strong action from the government. So instead of facing so much troubles it is easier and wise to let the employees stay healthy and also pay for their medical expenses in case they get ill.
But what are the ways to do it? Group Health Insurance is the answer. These days almost all the employers offer health insurance plans for their employees under Group Health Insurance Plans. Such plans not only cover the employee but also his or her spouse and family depending on the type of plan.
Since the plans involves a large number of people and the total amount of premium for all the employees come to a good sum, the individual cost per employee gets drastically reduced. The employer can choose from various plans and depending on the number of employees involved the companies offer group health insurance plans for small groups, mid sized groups and large groups. Often due to the large premium amount, the companies extend special facilities for the employees like providing free health check up once a year, special facilities at the hospitals, etc.
The employers can provide the Group Health Insurance plans to the employees as a choice or as a compulsory add on to their emoluments and perks. Even if offered as a choice, it has been seen that the employees prefer coming under such plans because they are either offered free of cost or offered at drastically reduced rates that often proves very cheap compared to individual or family health insurance plans.
However, many companies as well as employees find it difficult to come under the right plans due to lack of proper orientation to the benefits and cost involved for them. So it is advisable to go through all the terms and conditions of the plans and understand them clearly before buying one. Also it is necessary to educate the employees about the benefits of the plan.