How to Save on Group Medical Insurance

How to Save on Group Medical Insurance

How to Save on Group Medical Insurance

blüüm
employee benefits
Oct 13, 2021
How to Save on Group Medical Insurance

Tailor-made or Package Plans?

Group medical insurance can be divided into tailor-made plans and package plans. Tailor-made plans provide benefits that cater to the overall interests of employees that you may not find in readily available plans. However, the premium is calculated based on the claim rate, meaning that the more employees that claim the benefits, the higher the premium that the insurer will charge. Therefore, the premium rates can largely fluctuate over years.


On the other hand, package plans offer predefined coverage of insurance benefits and premium calculations, the amount of annual premium does not fluctuate as drastically. Package plans allow greater flexibility and budget control. It is a more cost-effective choice for employers. In this article, we are going to introduce 3 main features of group medical package plans that can help SMEs to achieve high quality employee benefits with lower cost.


Looking for group medical insurance

Choose Comprehensive Package Plans

Group Medical Insurance package plans offer inpatient and outpatient treatment coverage. Employers often pay attention to inpatient treatment coverage, as inpatient treatments can become the financial burden for employees. In fact, inpatient benefits can be rather comprehensive in package plans, as they are pre-designed by insurers to fit the needs of the majority. It is more cost-effective to choose a comprehensive package plan, as the most essential benefits will be available meaning most of your employees' inpatient needs will also be covered.


Employers will also have access to both sub-limit and annual benefit limit options within the category of package plans. The latter would provide greater flexibility for employees to utilize different benefits within the enrolled year.


While outpatient benefits offer relatively standardized benefits such as doctor and specialist consultation and medication, Chinese herbalist and bonesetter, employers can choose add-on benefits like body check and dental benefits. This helps employees with early diagnosis for diseases.


Nowadays, group medical insurance doesn’t only protect policyholders within Hong Kong, worldwide coverage is available to provide timely support for employees abroad. Benefits could include overseas emergency assistance, loss of luggage and legal support. A wide coverage is the key to provide all-round care for your employees.

group medical insurance coverage

Look into Flexibility of Increasing Medical Coverage 

Currently, some group medical insurance package plans include hospital income benefits. It is sometimes possible for employers to increase the hospital income subsidy amount or take out additional plans to provide extra ancillary financial support to employees during hospitalisation. What’s more, employees who suffered from COVID-19 are often protected under today’s group medical plans. 

Save Time on Plan Selection

Since insurance companies have devised various package plans already, insurance coverage and policy premiums are defined in advance. Employers can easily pick the best policy for them, which saves time to deep-dive into creating the different possible plan combinations. 

blüüm group medical insurance offers hospital cash benefits with up to HK$2000 per day, as well as an annual inpatient coverage of up to HK$ 750,000 with a choice of sub-limits or annual limits to suit your company’s budgets. blüüm also provides e-claim services, which minimises paperwork processing. 

Your employees’ wellbeing is our top priority. Therefore, additional health benefits are also provided with our group medical insurance plan, such as healthcare mobile app, employer’s administrative platform for streamlined processes, and health perks and discounts platform. Employees are encouraged to look after their health in a more proactive manner with the support and resources provided. 

To learn more about the package plans in group medical insurance, feel free to find out more here. You can reach us via WhatsApp us at +852 5379 8911 or email us at info@bluum.hk

employee benefits
Oct 13, 2021
blüüm
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