GHI for small business

Exclusively crafted health plans for your employees
Simple, affordable, and customized insurance

40,000 +
Policies issued
1.8 Cr +
Lives insured
99.49%
Claims settled

As on December 31, 2023

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What is group health insurance for small businesses?

Group health insurance (GHI) is a health insurance plan that offers coverage to a group of employees of an organisation. Often offered by businesses as part of their employee benefits package, this plan covers employees for various medical expenses incurred as per the policy’s terms and conditions.

Benefits of offering GHI for small businesses

Group health insurance for small businesses offers these benefits:

Attract and retain talent

Offering group health insurance presents your organisation as a caring and thoughtful entity. This can help attract new talent and retain existing ones.

Healthier workforce

Under group health insurance, your employees can get medical assistance promptly. This helps them remain healthy, contributing to greater productivity.

Tax benefits

You can claim the premium paid towards group health insurance as a business expense and claim a deduction under section 37 of the Income Tax Act, 1961.

Group health insurance for small business

Inclusions
Exclusions

Small business health insurance covers expenses incurred for:

Day care treatment
Pre and post-hospitalisation
Treatment for pre-existing conditions

Maternity expenses
Ambulance charges

Exclusions under group health insurance for small businesses include:

Expenses related to any admission primarily for diagnostics and evaluation purposes only
Cosmetic or plastic surgery

Expenses on fitting of Prosthesis; Any device/instrument/machine contributing/replacing the function of an organ; Holter Monitoring are outside the scope of the policy

Benefits of group health insurance to employees

Small business insurance offers the following benefits to employees:

Reduce medical expenses

As an employee, group health insurance can help you reduce your medical expenses. Coverage under a group plan can help reduce your out-of-pocket costs.

Quality care

Group health insurance helps you access quality care in their network’s empanelled hospitals. Also, a large network of hospitals ensures care anywhere in India.

Cashless hospitalisation

With group health insurance, you can enjoy the benefits of cashless hospitalisation in network hospitals without making any upfront payment.

How to buy group health insurance?

Purchasing a group health insurance for your small business is quite simple. Just following these steps:

Visit our website.
Enter your corporate details, including mobile number, pin code, company name and email ID.
Click on “Proceed to buy”

ICICI Lombard Group Health Insurance Articles

How Group Health Insurance Covers Pre-Existing Conditions

Insurance companies in India offer a range of health plans to meet different customer requirements and pocket, and group health insurance is one of them. As the name suggests, this policy covers the medical bills of a group of people, such as the employees or members of an organisation. While a group health insurance policy offers wide coverage and many benefits to policyholders, coverage against pre-existing conditions is an important benefit it offers.

07 Jan, 2025

Top Reasons Employees Aren't Using Their Group Health Insurance

Group health insurance is one of the biggest benefits employers give to their employees, but shockingly, not enough employees take full advantage of it. So to protect their workforce, most employers put substantial investment into these plans, but the employees miss out on it for multiple reasons. Let’s look at why employees aren’t taking advantage of their group health insurance and what can be done to fix this, as well as the challenges ahead.

07 Jan, 2025

Strategies to Reduce Group Health Insurance Premiums

A company's group health insurance can be a complex undertaking for businesses of all sizes. With healthcare costs on the rise and employee needs changing, it's critical to find cost-effective ways to cut without sacrificing quality coverage. Ensuring that top talent is attracted and retained requires group health insurance, which often accounts for a substantial amount of a company's budget.

19 Sep, 2024

What does the best GHI for small business cover?

The best GHI for small businesses provides holistic coverage, including day care treatment, domiciliary hospitalisation, and hospitalisation for any illness or injury suffered during the policy period.

Does group health insurance actually lower the cost?

Yes, group health insurance does lower the cost for both the employer and the employee. Employers get tax benefits for premiums paid towards a group health policy, while employees lower out-of-pocket medical expenses.

Who can be covered in group health insurance for small businesses?

Small businesses in various sectors fulfilling the insurer’s eligibility criteria can be covered in group health insurance. Check with your insurer to know the eligibility and if you fit within the defined norms.

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