• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Family Health Corner

News That Affects Your Family's Health

FAMILY HEALTH CORNER
News That Affects Your Family's Health

  • Home
  • About/Contact
  • CHILDREN
  • HEALTH NEWS/TRENDS
  • INSURANCE
  • MEN
  • MENTAL HEALTH
  • WOMEN

You may have to pay more for Group Health Insurance, here’s why

July 8, 2021 by Staff Reporter

If you have taken Health Insurance coverage through your employer and pay a Group Insurance premium every month from your salary, it is possible that you may have to pay more premium for it now.

Companies take group health insurance for their employees and since it is taken on a very large scale, its premium is also slightly less than normal. If you have also taken health insurance through the company, then there is some bad news for you. As per sources cited by Zee News, most of the insurance companies have increased the premium of group health insurance policy by 25-30%, which can have an impact on the employees and they may have to pay a higher premium.

Notably, companies are under a lot of pressure due to rising claims in Covid-19. The ever-increasing loss ratios in group health business have brought down their profits significantly due to the second wave of the pandemic, due to which the companies have increased the group health insurance premium. Insurance companies were demanding an increase in the premium of individual health insurance, but the insurance regulator IRDAI has put a hold on the hike in individual health insurance premiums. Therefore, those who have taken health insurance separately, and not through the company, will not have any increase in their premium.

However, insurance companies do not require the approval of the insurance regulator IRDAI to increase the premium in the group insurance business. That’s why they have increased it. After the Covid-19 epidemic, big companies are increasing the coverage of their employees, while small companies are also taking group health insurance policies to keep their employees safe. In view of the sudden demand for group health insurance, insurance companies have also increased their premium, which will have a direct impact on the pockets of the employees.

###[ad_2]
Originally Appeared Here

Filed Under: INSURANCE

Primary Sidebar

More to See

Medical startup has Stonington native in mind

Oct. 6—When over 100 people gather on Tuesday, Oct. 12, at Stonington Country Club for the first Andrew Heylmun Invitational golf tournament, they'll … [Read More...] about Medical startup has Stonington native in mind

Walking your way: NAMI hosting virtual walk for mental health this weekend | News, Sports, Jobs

MARQUETTE — There’s never a bad time to think about your mental health: Where it stands, how you can improve it, and where to go for help if you need … [Read More...] about Walking your way: NAMI hosting virtual walk for mental health this weekend | News, Sports, Jobs

18 ft Purple Crush Water Slide Rental

https://abouttobounce.com - BOOK YOUR Inflatable Party Rental from About To Bounce Inflatables, TODAY! Inflatable Bounce House and Inflatable Water … [Read More...] about 18 ft Purple Crush Water Slide Rental

Privacy Policy | Terms and Conditions | About/ Contact
As an Amazon Associate I earn from qualifying purchases.
Copyright © 2022 · FAMILY HEALTH CORNER . Log in