Group health insurance in Thailand
Even though it is not compulsory for you to provide your employees with group health insurance, it is necessary if you want to attract and retain staff, as well as run a productive company. In fact, group health insurance is the most important of all employee benefits, and a perk that employees have come to expect.
As a specialist in corporate health plans, Pacific Prime Thailand has solutions for an array of businesses ranging from small to medium-sized enterprises and professional service firms to multinational corporations.
Contact us to speak to our expert advisors or visit our Corporate site to find out why we are the broker of choice for companies throughout Asia and across the globe.
What are the main features of group health insurance plans?
A comprehensive health insurance plan is the foundation of any successful, and attractive, employee benefits plan. When done correctly, businesses can benefit from employees who are more productive, healthier, and happier. These plans also offer one of the easiest ways to attract and retain top talent.
Group health insurance plans are quite different from individual health insurance plans. Some of the main features that make them unique include:
Group health insurance plan premiums are relatively low, and therefore more affordable.
The group acts as a policyholder and the covered members are known as beneficiaries.
These plans typically have no or minimal waiting periods. Pre-existing conditions are covered from day one.
If the insured beneficiary receives treatment at a network hospital, these plans allow cashless claim settlements.
Group health insurance plans are provided for one year, after which the policy can be renewed. If the policy is renewed, fresh underwriting is completed before the coverage can continue. Both the premium and sum insured can change with each renewal.
With many group health insurance plans, coverage extends to the group members’ dependents too, which can include their spouse, children, and even dependent parents.
These are some of the primary features that make group health insurance plans stand out from individual health insurance plans.
How are group health insurance premiums calculated?
Along with that, there are various regional and global trends that will affect your premiums, especially in terms of plan renewal. Therefore, it is crucial to ensure that you control your premiums as accurately as possible.
To learn more about the global insurance market trends in a way that’s easy to understand, download our State of Health Insurance Report for free. In it, we answer important questions like, “What are the top insurance issues faced by individuals and businesses?”
Where can I have my group health insurance questions answered?
When it comes to insurance, it is vital to ask the right questions. That’s why insurance brokers such as Pacific Prime Thailand are beneficial to your company and your employees. Instead of worrying about group health insurance on your own, you can discuss the ins and outs of your situation with a broker.
When determining what kind of group health insurance you’ll need, you’ll have to answer questions such as:
- What is the reason for offering health insurance? Is it to attract new talent, retain existing employees, or both?
- Do you have different levels of employees who require different coverage?
- Do any employees have special medical needs that require special kinds of insurance?
A good broker can help you figure everything out by providing group health insurance that matches your company requirements.
Looking for group health insurance in Thailand?
Every business has different requirements, and your group health insurance in Thailand should be customized to match those requirements. Pacific Prime Thailand provides tailored policies for businesses of different sizes, covering a variety of industries. Get in touch with us to learn more about the coverage you need and receive a free plan comparison or quote today.