Group Health Insurance

Group Health Insurance Thailand How Group Health Insurance can benefit your company

As a company owner or a HR Director, the chances are that you will constantly be looking at ways to make your company an attractive proposition for any new staff. Simultaneously, you will want to be taking steps to hold on to your best staff. The churn of staff is expensive and holds many businesses back from reaching their true potential. Corporate group health insurance may be a solution to some of your problems.

Group Health Insurance is increasingly becoming a key factor within the workplace when it comes to enticing new staff to your company, and also when it comes to retaining your best staff.  Employees highly value a health insurance plan which will take care of them when they are sick, and many view it as a key element when moving companies. At the same time, it can be key in persuading them to stay if they are looking at alternative offers.

If you are an employer who is offering a potential staff member health insurance which provides cover at the leading international hospitals throughout Thailand, then this is going to be a major selling point to a candidate who may be looking at multiple work offers. Most of the providers we work with have direct billing arrangements in place at all the major hospitals in Bangkok, and throughout Thailand. This means that your staff members can use the insurance on a direct billing basis. They do not need to pay out of pocket, and as a company you do not need to deal with submitting claims to the insurance company.

The days of employers opting for the cheap options and hoping for the best are numbered, as staff realize the implications of having insufficient healthcare insurance for their wellness. As an employer the last thing you would want is that one of your staff falls seriously sick, and your work health insurance plan fails to provide adequate coverage. For this reason, it’s crucial you enroll the help of an expert group health insurance consultancy company, and get your team protected.

Make sure you and your company do not fall into the trap of having low lever cover, where one day you may find yourself helping a staff member out of a deep financial hole caused by a substandard policy, of which there are many in the Thai market.

What are the best ways to find a good group health insurance plan?

As with individuals who are looking for health insurance, the myriad of differing options for groups can be confusing. 

To make matters more complicated, many insurers are willing to bespoke group healthcare plans. Whilst this gives you more flexibility in getting exactly what you need, the process of getting to a point where your cover is in place can be a drawn out one. Here at Seek2Insure we keep the process as simple as possible for all of our clients, and that includes groups.

Starting out with a complete fact find, we make sure we get a thorough understanding of your requirements at the start. Do you need dental cover? Do you need wellness cover? Do any of your staff have pre-existing health conditions? Do you need to work to a set budget per staff member? We then go to market and come back to you with options which fit your needs. Given that we work with all of the major providers in Thailand, you can be sure we will find the best options for you.

With this process taken care of, you are in a position to continue driving your company forwards, and decisions on the path you wish to take becomes that bit simpler.

The key benefit of using a broker is that they can negotiate the best deal for your team for you. Given the flexibility of group plans, health insurers are able to mould their plans around your company needs. Remember that a good broker should work to represent your best needs. Going direct to an insurer can result in your needs being moulded around the limits of their policy.

How do company health insurance plans differ from individual ones?

Going down the path of getting a group healthcare policy in place is a prudent one. Some of the key benefits include:

  • Access to preferential rates as providers are able to offer discounts due to volume. A company of 20 employees is more lucrative than an individual policy for an insurer. As a result you can secure better pricing and discounts. The larger your corporate group, the larger the potential discount.
  • Ability to bespoke group plans and be flexible with benefits. This flexibility is a great advantage of group plans. With individual plans, it is not possible to bespoke benefits, often leading to people having to use a rigid option. With a group plan you can add and remove benefits where needed, and even alter the overall cover limits of the policy if needed. 
  • Renewal rating based upon the annual performance of your company. You will not be punished as a result of other companies making lots of claims. At the same time, if you make a lot of claims over the course of a policy year, there will be an increase at renewal. If you have not made many claims over the course of the year, then it provides grounds for premium negotiation at renewal.
  • If you have a group of 10 or more employees, then it may be possible to obtain Medical History Disregarded terms  (MHD). This effectively means that pre-existing conditions will be covered. This compares to individual health insurance plans which will not cover pre-existing health conditions. This is a key benefit for staff who are not in good health.

How can we contact Seek2Insure?

If you are looking to get a group policy in place, or if your current plan is in need of some changes, then call us today and let us know how we can help! 

We are happy to conduct a full review of your current plan, and look at ways where you can get better value for your money.