BackHow to optimize employer health insurance
Employers are unaware of the way the cost is expected to rise in the next few years
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Employee benefit programmes have become an essential tool for attracting new talent and retaining old ones. But the cost of such insurance has been increasing not only because of increase in instances of illness but also because people approach specialized hospitals for small ailments. So, either the price tag of the services has to increase, or the quality of services has to reduce. However, a better solution would be to optimize benefits and costs. According to a survey conducted by ICICI Lombard General Insurance Ltd across 200 clients across India, employers are not only unaware of the way the cost is expected to rise in the next few years, but also do not know some of the features that should ideally be covered in their plans, for example out-patient department costs, but are not. Here’s a look at the factors that are driving up the cost on group health insurance, and how some of this can be controlled.
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