The government has made it mandatory for all “employers” which resume functioning as the lock down gets over, to provide medical insurance to their employees.
A corporate group health insurance policy generally covers hospitalization expenses of employees as well as defined family members including parents or parents-in-law up to a prescribed limit.
A recent Insurance Regulatory and Development Authority of India (IRDAI) circular states: “Reference is invited to Order No. 40-3/2020-DM-I (A) dated 15th April 2020 issued as part of the Consolidated Revised Guidelines by Ministry of Home Affairs (MHA), GOI. As per the said order, inter alia; the following are stipulated:
All industrial and commercial establishments, workplaces, offices etc. shall put in place arrangements for the implementation of Standard Operating Procedure (SOP) before starting their functioning. As per clause no. 5 of Annexure – II of the said SOP for social distancing for offices, workplace, factories and establishments, medical insurance for the workers to be made mandatory, as per the circular.
In the circular, the regulator has advised insurers to offer comprehensive health insurance policies to individuals or groups to enable the above mentioned organisations to comply with the government’s directions. The regulator has also advised the insurers to devise these comprehensive health insurance products with simple wordings and conditions and at an affordable cost for the stated organisations.
|IRDA Advisory Notice||https://www.irdai.gov.in/ADMINCMS/cms/Circulars_Layout.aspx?page=PageNo4100|
Let’s join hands in this noble cause of getting the workers insured.
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