In today’s competitive environment, Group Health Insurance has become a vital part of an organization's employee benefits program. Whether you are a startup, SME, or a large enterprise, offering Group Mediclaim Insurance Policy for Employees is no longer optional—it's a strategic advantage. However, before purchasing such a policy, it's crucial to understand the qualifying criteria to purchase Group Health Insurance in India.
This article will guide you through the eligibility requirements and how business insurance, including company insurance policy options like group health coverage, can protect your workforce and boost retention.
What is Group Health Insurance?
Group Health Insurance Policy is a type of company insurance provided to a group of people—usually employees of an organization—under a single policy. It offers group medical coverage for illnesses, hospitalization, surgeries, and sometimes even maternity benefits or pre-existing diseases from day one.
Who Can Purchase Group Health Insurance?
To buy Group Health Insurance for Employees, certain conditions must be met. Below are the major qualifying criteria:
1. Minimum Group Size
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Eligibility starts at 7 employees in most insurance companies.
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However, many small business insurance providers accept micro-enterprises with as few as 5 members.
Note: Employees, directors, partners, and even interns may be included in the policy.
2. Registered Business Entity
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The organization must be a legally registered entity—Private Limited Company, LLP, Partnership Firm, Sole Proprietorship, or NGO.
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This also applies to insurance for corporations and commercial insurance online purchases.
3. Employer-Employee Relationship
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Only entities with a formal employer-employee relationship are eligible.
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Freelancers or contract workers can only be included under custom company insurance policies designed for gig workers.
4. Contribution Type
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Either the employer pays the premium (non-contributory) or shares it with the employee (contributory).
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The contribution structure must be defined and documented.
5. PAN, GST, and Business Proofs
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For commercial insurance in India, insurers will require:
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Company PAN Card
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GST Certificate
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Business Registration Documents
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Salary details or proof of employment
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6. Defined List of Members
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The organization must provide a nominal roll—a list of covered employees and their dependents, including:
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Name
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Date of Birth
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Relationship
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Contact Details
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7. Indian Bank Account
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Premiums must be paid through an Indian business bank account to validate the business transaction.
Types of Business Insurance that Include Group Health
While Group Health Insurance Plans are specific to employee wellness, companies often bundle them with other types of business insurance to maximize protection. Here are some examples:
Bundling creates a comprehensive company insurance policy with customized protection.
Why Your Business Should Offer Group Medical Coverage
Offering a Group Mediclaim Insurance Policy is more than just a compliance measure. It reflects your company’s commitment to employee well-being and long-term growth.
Key benefits include:
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Higher employee retention
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Tax benefits for employers
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Pre-existing disease coverage
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Maternity and family add-ons
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Faster claims through cashless networks
Buying Commercial Insurance Online
The modern way to get business insurance in India is through digital insurance platforms. They allow:
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Comparing Group Health Insurance Plans
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Instant premium quotes
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Document upload & policy issuance online
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Policy management & employee updates
You can also combine this with other company insurance policies for streamlined operations.
Final Thoughts
Whether you're a growing startup or an established company, offering Group Health Insurance for Employees is a powerful way to secure your workforce and attract top talent. But remember, your business must meet the basic qualifying criteria—employee count, business registration, and financial documentation—to be eligible.
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