Employees prefer employer provided insurance plans: Study

A survey finds most employees keen to invest in top-up, OPD and parents insurance plans provided by employer.

92 percent : employees want to share premium costs and buy voluntary insurance plans offered by employers.

Of them

33 percent: Willing to spend 1-2%

37 percent: Willing to spend 3-5%

83 percent: employees want to customise cover offered by employer such as increasing room rent

78 percent: employees are willing to spend Rs 2,000-20,000 on voluntary parent insurance plans

80 percent: Indian organisations facilitate parents’ coverage

31 percent: organisations have plan enhancements specific to address women employees

Factors that matter to employees while buying a voluntary plan
*Comprehensive policy coverage
*Negotiated cost
*Service delivery guarantee *Payment through salary deduction
*Ease of access; technology support
*Option to continue with the policy

Factors that matter to employers while offering a voluntary plan

*No minimum participation guarantee from the insurer
*Competitive rates from insurer
*Least administrative involvement
*No cost impact on the company sponsored plan
*Communication support

Source: The Marsh Employee Health & Benefits Survey 2017. Over 500 employers and 2,000 employees participated