Group health insurance is a type of health insurance covering a group of people, usually comprised of company employees or members of an organisation. Members of group health insurance typically receive insurance at a reduced cost.
If you are an employer, getting group health insurance is the best way to protect your employees as medical expenses can be really costly in Thailand. The main coverage of Group health insurance is simply coverage for your employees’ medical treatment costs, if they get hospitalised due to an illness or accidental injury.
Group health insurance comes with many advantages and benefits for employers, especially for employers who will pay lower premiums and get greater coverage in some situations rather than buy insurance independently.
If you offer health benefits to your current and prospective workers, they’ll be more likely to stick around. There’s an unwritten law in Thailand that businesses should provide their worker’s health insurance. A future employee would prefer to work for your company over a company that doesn’t offer health insurance.
It also improves company morale when workers are well, making the company a better place to work. They are less likely to go to the doctor if an employee has to rely on the social security system for healthcare. They know it’s going to be a simpler procedure than coping with Social Security hospitals.
A corporate expense is called the cost of group health insurance. So, by the end of the year, you can write it off and get the tax deduction. It lowers your taxable income and thus reduces your tax liability. With a corporate income tax rate of 20%, that means you’d knocking off 20% of your tax payments.
Designed to provide a small or a large business with the flexibility they need. In addition to a comprehensive set of health-care benefits, you can choose from a variety of choices to meet your needs and budget, depending on what job line you are in.
Very good information and service, had a little read of your articles and decided to inquire, got a call back very fast and now getting through the procedures. Very good staff with lots of knowledge of the product.
I opted for the Thaiger group health insurance. The service is brilliant as they offer an advanced level of plans available for group health care policies. There is also a very high quality service as all of my issues were solved within minutes.
Honestly, I am very impressed and delighted with the services of the thaiger. Eventually, after multiple call backs I got my group health insurance policy. Will definitely recommend other people to check out Thaiger’s group health insurance plan.
Very good services, their call canter answered all my questions and told me exactly what I needed to do next.
I visited the thaiger’s website and checked the various plans relating to health insurance policies. I’ve found a variety of options and picked “Group Health Insurance.” I would be a lot cheaper and easier to just get my entire family covered with one policy.
The group health insurance that I purchased from Thaiger was a protective cover for me and my employee. The package is enormously beneficial, and it has provided me and my employees with numerous additional features. 5 Stars.
There are numerous types of group health insurance, but we categorise it depending on the size of your company or organisation.
For small businesses, having health insurance is an important factor in retaining and recruiting new employees.
This type of group health insurance is designed specifically for the needs of small businesses. It is flexible, so you can control the cost while empowering your employees. Small business health insurance provides competitive policies with comprehensive health benefits and minimal out-of-pocket expenses for the workers.
For medium-sized business, group health insurance can be customised to fit the needs of your business. The policy also includes fully insured savings as well as comprehensive employee benefits such as medical, pharmacy, and dental coverage.
In addition, this insurance also offers custom-tailored programs that incorporate value-based provider networks, risk-reduction initiatives, and added benefits to provide the workers with more options and savings.
Providing health insurance for a large business can be complicated, considering the big number of people you need to cover. However, large business group health insurance can help you provide affordable, quality health care for all of your employees. The insurance can be personalised and customised to fit your business needs.
Clinical services that provide customised coaching, treatment decision support, and optimal care management to maximise the workers’ wellbeing, savings, and quality of care are all available via large business health insurance.
I want to make them happy by giving them the best health insurance that would protect them from all mishaps. As a business owner, it is important to show how much you care for them.
Top tip: The Thaiger made everything easier, they provide easy to understand instructions and guided me throughout the whole process.
You’ll need to meet different criteria when you purchase group health insurance for your business. Check the list below.
Company registration – Your company must be licensed by the business development department in Thailand. To prove this, you’ll need your company registration certificate.
Company office – Your company must have an office in Thailand or own one. It can be a traditional office, a virtual office, or a serviced office.
The number of employees – The number of your employees must fall within the range defined by insurance companies. Some insurers only require five employees for their group insurance, others need more than ten.
Age of employees – Your workers must be fifteen to sixty-five years old. Some insurance firms require their workers to be no more than forty-five years old on average.
It is important that you take care of your health as well as the health of your loved ones. We listed down other health-related insurance that might interest you.
Family health insurance is a form of health insurance that provides a single insurance package for the whole family. As per the needs of your family, it can also be personalised further.
Dental insurance is intended to help you pay for your dental treatment cost and help you preserve good oral health overall. That is why we concentrate on preventive treatment to identify early signs and symptoms of dental illness.
After all the years of working hard, you definitely deserve the best out of what you worked for, especially during your retirement age. You don’t need to worry about your medical bills. You don’t even have to worry about your health if you’re living alone. Your health insurance got your back.
Those who smoke more than 10 cigarettes a day are qualified for paid premiums under smokers’ health insurance. The plan could be rejected by the provider if you smoke 2-4 packs of cigarettes a day.
We’ve mentioned group health insurance benefits for employers, but what about benefits for the employees? Below are some of the benefits:
Group health insurance protects the families of workers as well. Group insurance rates can extend to any employee whose spouse, parents, and/or children are dependant on them. A couple needs to be married legally and have a marriage certificate in order to be eligible for the discount. Depending on the insurance program, children must be less than eighteen or 25 years of age.
Since the employer is the one who opted for the group health insurance, they would be the ones maintaining the primary communication with the insurance. This reduces your efforts in having to communicate back and forth, so the claim is simpler for you.
Most companies include your health insurance plan in the annual benefits, meaning that employees don’t have to pay for the premium. However, this could differ from one employer to another. Still, whether your employer charges you for the health insurance or not, the premium is still a lot lower compared to individual health insurance.
Young employees can enjoy getting a wider maternity cover. Most of the plans cover both normal and C-section deliveries. Some coverage even covers their newborn babies for a limited period of time.
Maternity insurance is essentially maternal covered health insurance. Basically, an optional rider or add-on for occasional health insurance policies. This ensures the cost of care for babies involved with normal and caesarian deliveries. It also provides pre-and post-hospitalization coverage and income compensation.
For group health and dental insurance, employees are afforded the same rates. Dental premiums and deductibles are dependent on the age, health, working environment and other factors of the employee.
Health insurance for smokers is intended for those who smoke more than 10 cigarettes a day. The premium might be higher, but if you do smoke, this is the best protection you can give to your health.
To protect you financially against critical diseases that may be caused by smoking, a smoker must consider obtaining health insurance. Any illness that can occur due to smoking, such as stroke, hypertension, lung cancer, cardiac attack, chronic obstructive pulmonary disease, and respiratory disorder, can be covered by this insurance.
Company insurance cover is the single arrangement negotiated by a group manager which provides coverage and multiple benefits to the employees of the company.
Personal health insurance is more affordable for the majority of small groups than group health insurance because of the scale of the risk pool. Personal health insurance spreads the danger over a much wider population, as we described above.
2 is enough to get started with some insurance firms.
The waiting period is decided by the employer for new workers. There are very flexible waiting periods.
No, they don’t. All are called open access, meaning they can go to any provider within the boundaries of their plan.
If a corporation hires 50 or more full-time equivalent workers, at least 95 per cent of the full-time employees and dependents up to age 26 would be expected to provide health insurance or pay a tax.
Yes, in several cases, the cost can be shared between the employer and their workers. Cost-sharing is very versatile.
Yes, depending on employee classes, you can opt to have various benefits. (i.e. leadership, owners, workplace, etc.)