Tips for finding affordable Group Health Insurance rates?

In today’s day and age, with rising health concerns, medical expenses often feel inevitable, adding to one more thing vying for your hard-earned money. While it might be difficult or maybe even impossible to predict and prevent health risks and avoid medical expenses, it is possible to mitigate the costs and reduce the risk by opting for the right health insurance policy

India is a developing country and has long been aiming to achieve universal healthcare. However, due to its citizens’ vast population and varying needs, the government realized it was unrealistic to do so on its own and decided to mandate professional organizations to provide health insurance to their employees. 

But as foreign and venture capitalist funding dwindles, and the cost of treatment and health insurance rises, it has become vital for organizations to look for affordable group health insurance for their employees. 

What is group health insurance?

A group medical insurance policy is a simple and cost-effective way for organizations and groups to provide comprehensive healthcare solutions to their employees. Whether it is a 20-year-old graduate just starting their career or a 50-year-old veteran with dozens of years of experience, everyone can be covered as a part of a single group policy. 

What are the benefits of a group medical insurance policy?

These policies are designed to fulfill organizations’ needs and offer numerous benefits to the employees and the company. 

Whether reducing the health risk your employees face or the out-of-pocket medical expenses resulting from an unforeseen medical emergency or getting access to quality healthcare facilities to get the best care based on their needs, health insurance is beneficial in numerous ways. 

While not offering direct benefits, the organization provides several advantages in attracting and retaining talent, creating a wonderful and positive working environment, facilitating a productive workforce and getting tax benefits on the premium. 

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What are some tips for finding affordable group health insurance plans?

  1. Focus on hiring younger and healthier employees

The premium cost for insurance is charged based on several factors, including the risk of an individual catching an illness and requesting a claim. For example, someone who smokes and is older might have to pay a higher premium than someone in their 20s and does not smoke.

  1. Emphasize preventative care

Emphasize early diagnosis and taking steps to curb them. This would reduce the total number of claims your group will claim and potentially reduce the renewal cost. 

  1. Compare insurance providers

One of the first steps to ensure that you get an affordable plan is comparing insurers and choosing one that fits your needs and is affordable. However, it is essential to note that one should never get the cheapest plan possible or plans with the highest tax returns as they have limited coverage and provide a lack of benefits.

  1. Choose between necessary and additional benefits

Another factor influencing the cost of insurance premiums is the coverage and benefits opted for. While a comprehensive policy covering dozens of risks is beneficial for those who need it, determining and understanding the necessary coverages based on employee needs and market trends can help choose the right coverage and reduce premium costs.

  1. Promote healthy living

Individuals who are healthier and take measures towards healthy living are often provided    benefits like lowered premium prices. For example- Live Healthy benefits from Niva Bupa or Acko. 


In today’s age, with rising health concerns, there have been debates about the impact of heightened treatment costs and measures that can be utilized to protect from it. But while group health insurance, especially when sponsored by an employer, is an answer to the problem of reducing the ambit of out-of-pocket expenses for the employee, it can raise monetary concerns for the organization. Following the above-stated tips makes it possible to choose and get an affordable group insurance policy for your employees. 

manu bhadouria

I'm Manmohan Bhadouria, a digital marketer with a strong SEO background. I love writing blogs and stories, and exploring new places and adventures is my passion. I have a soft spot for all kinds of animals.

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