GMC Vs. GPA - What Is The Difference?

Points of differentiation

GMC policy

GPA policy

Definition                      

• Insurance policy that offers healthcare coverage to a group of individuals
• It covers medical expenses incurred due to illnesses, injuries, and related treatments

• Insurance policy that provides financial support to a group during accidental injuries, disabilities, or death resulting from accidents
• It focuses on providing benefits for unforeseen accidents

Coverage

• This plan covers hospitalisation, diagnosis, medications, OPD, and maternity expenses
• Employees, spouses and children receive coverage

• This plan offers accidental coverage, death and disability
• Limited to employees only

Coverage type

• Reimburses exact expenses incurred
• Up to set sum assured limit
• Indemnity-based coverage

• Pays fixed lump sum based on policy terms. e.g., set percentage for partial disability

Customisation

• Customisable for employee count, industry and job

• Limited customisation due to fixed benefits

Suitable for

• Diverse groups wanting comprehensive health coverage

• High-risk industries like mining and construction

Scope of coverage             

• Comprehensive coverage for medical treatments, hospitalisation, surgeries, etc.

• Focuses on accidental injuries and their consequences

Purpose                         

• Ensures that group members have access to medical treatments

• Provides financial support in case of accidental injuries

Claim process              

• Requires submission of medical bills and documentation

• Requires documentation related to the accident, injury and its consequences

Premiums                     

• Based on factors like group size, demographics and coverage limits

• Influenced by coverage amount and group characteristics

Exclusions                     

• Medical expenses due to self-harm, HIV/AIDS, cosmetic treatments, and other factors

• Illnesses, non-accident-related injuries