The government has made it mandatory for all employers, who resume functioning post coronavirus lockdown in the country, to provide medical insurance to their employees.
With reference to this, the Insurance Regulatory and Development Authority of India (IRDAI) has also asked all general and standalone health insurers to offer comprehensive health insurance policies either to individuals or groups in order to enable the listed organisations/employers/establishments comply with the government of India directives.
With a corporate group health insurance policy, employers tend to take care or provide for the varied health care needs of its employees.
In the circular, the insurance regulator has advised insurers to devise these comprehensive health insurance products with simple wordings and conditions and at an affordable cost for the stated organisations.
According to insurance experts, earlier it was not mandatory for all employers to provide health insurance cover to their employees.
However, some employers were insuring their employees and defined family members by buying group health insurance policies from the insurers.
