Employee health and wellbeing is typically top of the priority list for many organisations for a very good reason: healthy employees are happier at work which has been proven to increase productivity.
In fact, evidence shows that health and wellbeing support in the workplace not only improves employee retention by 35%, but also boosts productivity levels by 34%. Recent research also reveals that having access to a group health insurance policy benefits both employees and employers by reducing absenteeism by 31%.
In this article, we explore group health insurance benefits and how this type of health insurance can be a significant advantage for companies and workers alike.
Contents
- What is group health insurance?
- The key benefits of group health insurance for companies.
- Group health insurance benefits for insured members.
- Discover your next group health insurance policy with GasanMamo.
What is group health insurance?
A health insurance group is a policy which provides coverage for insured members, generally employees of an organisation or company. Companies can offer their employees access to private healthcare treatment while benefiting from cost effective health insurance plans.
Health insurance providers present organisations with health insurance group options so that they can choose the right policy that best suits the organisation and their employees.
This is true at GasanMamo, as we offer three levels of health insurance group cover:
- Vital Plan
This is a basic plan that provides limited cover for in-patient, day-patient and out-patient treatment in hospitals or clinics worldwide, excluding USA and Canada.
- Key Plan
A more comprehensive health plan for investigations or treatment received in Malta, the Key Plan offers a full refund up to fair and reasonable fees for in-patient and day-patient treatment in participating hospitals and clinics in Malta. Limited cover is still available outside of Malta up to the limits of the Vital Plan, excluding USA and Canada.
- International Plan
Our most comprehensive health insurance plan, the International Plan provides a comprehensive health insurance cover worldwide. If an emergency occurs while travelling in the USA or Canada, the same level of coverage potentially offered in Malta up to €50,000 is provided.
The key benefits of group health insurance for companies
There are many advantages for organisations who provide group health insurance for their employees, including:
- Enhanced flexibility: employees can access medical or healthcare appointments and treatment opportunities outside business hours helping to reduce delays in workflows.
- Increased retention: potential employees view group health insurance as an attractive addition to their package, enabling them to look after their health and wellbeing effectively alongside encouraging them to stay with the company.
- Sustained achievement: well-nurtured employees are statistically more likely to be happier at work and contribute more, helping to boost productivity and attain goals more efficiently.
Plus, group health insurance spreads risk among a greater number of members, helping to reduce costs and improve the overall health insurance offering.
Group health insurance benefits for employees
Studies show that employees see group health insurance as a positive aspect to working for companies that offer this benefit. Many workers cite the following reasons as important when it comes to group health insurance:
Personalised care
Employees can choose health and medical care appointments or treatment options to align with their preferences and work hours. This creates flexibility in their schedule, so that work and other aspects of their life are not affected by inconvenient health consultations.
Improved access
Group health insurance generally results in employees being able to arrange consultations, treatment or meetings more quickly and easily which helps them reduce stress and focus at work more effectively.
Elevated convenience
Employees are often able to access health care guidance or virtual appointments when it suits them, ensuring that their lives are not dramatically impacted by health care administrative tasks.
Enriched health and wellbeing
Knowing that your health and wellbeing is valued by your employer is priceless for the vast proportion of employees. This can also help boost feelings of satisfaction and wellbeing at work as people feel their health is being safeguarded.
Protect employees with GasanMamo’s group health insurance plans
The most valuable asset for any enterprise is its employees. These are the people who work towards collaborative goals, enabling a business to progress and achieve its objectives.
Group health insurance benefits both employees and the company, with a boost to productivity and an increased sense of loyalty as employees stay with the organisation that looks after their health and wellbeing.
GasanMamo’s group health insurance plans cater for all sizes and types of businesses, making sure that your employees’ health is protected in a cost-effective and efficient way.
Begin your search for the right group health insurance plan for your organisation by browsing our group health insurance page.
If you prefer, contact our friendly team of insurance experts who can guide you through your health insurance options and find the right plan to suit your needs.
GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.
