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What is Group Health Insurance?

If you are working at a company and some of your key employees go down with an illness, the ramifications of this can sometimes be catastrophic. If you have managed your human resource planning properly, you will have just enough employees to carry out the functions of the company but not enough to be able to deal with the extended absence of a few of them. Well, face facts, people get ill, and this is why group health insurance is an important product.

Group health insurance covers your entire workforce for illnesses that stop them working. It enables them to be treated properly and nursed back to health as soon as possible to get them back working for you again. This benefits them and you. It benefits them as they can get back to earning money again as soon as possible and it benefits you as you don’t have to bear the cost as much of having to find someone else to do their job.

It also gives your employees peace of mind. This is because group health insurance pays out a monthly income to them tax-free whilst they are away from work. The benefits are actually only paid after a deferment period, but as long as your employee cannot do the job that you were paying him to do and cannot hope to obtain a similar income, they are covered for it.

Group health insurance is particularly useful if you have overseas staff. You can cover all of your expatriate workforce with one policy, and the major international healthcare providers are very good at providing these policies. You need to find someone with global expertise and experience though to make sure that your employees get the optimum level of service.

The group health insurance provider that you choose will need to show that they have access to a real global network of clinics and hospitals, and that the members of the networks have a reputation for giving the best medical attention and care. As part of the policy the person covered should be able to be evacuated to the nearest medical facility that is appropriate for their needs. Emergency repatriation cover should also be available.

The organisation providing insurance for you should offer a help line available to those covered for 24 hours a day and for 365 days each year and this needs to be multilingual so that whatever country the insured is in they can have access to helpful information and expert advice. Basically, what you need if you have staff living overseas for more than six months every year is the peace of mind that should they get ill or injured they can be plugged into an extensive support and care network.

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