Corporate Health Insurance When Changing Jobs: Things to Consider

Corporate health insurance is a type of group health insurance where the employer would take the health insurance for their employees. Corporate health insurance would be valid as long as you are with that corporate company, once you leave the company the coverage would not be valid for you. So it is important to consider the below things while changing your company and leaving behind the corporate health insurance policy for a new one:- Visit here

• Coverage: The first thing to consider in the new corporate health insurance policy from the new company is the coverage the corporate health insurance policy is offering. The coverage should include inpatient hospitalization, Outpatient expenses, day care treatment expenses, room rent, ICU rent, organ donor expenses, expenses for alternative treatments etc. The coverage should be able to cover all kinds of expenses incurred due to hospitalization as a result of accident and disease or illness.

• Premium sharing agreement: The other thing to check with the new corporate health insurance is the premium sharing agreement existing in the organization. There might be few companies which ask the employees to pay the entire corporate health insurance premium and few other companies which might ask the employee to pay a part of the health insurance premium. The premium sharing agreement is important as the new organization may not offer the same coverage and premium conditions as the old organization. The health insurance coverage is also a very important factor that has to be checked at the time of changing the organization.

• Exclusions: The new organization would have a corporate health insurance policy that would have certain exclusions which are different from your previous organization and the exclusions should be known prior to joining the organization as there might be certain exclusions which would be disadvantageous to you. The exclusions can be inferred specific whereas the common exclusions would be the same for all the insurance companies.

• Additions of family & parents:   This is a very important factor to be considered while changing the organization and changing the jobs as few organizations might not have a policy to include the family members and parents. Some organizations have employee only coverage where the coverage would only be applicable to the employee and the parents or family members cannot be covered even on payment of additional premium. On the other hand there would be few organizations which would cover your parents on payment of additional premium which would be borne by you.
• Network hospitals: The list of network hospitals should also be checked with the new organization as this would be very important. If there are no adequate number of network hospitals in your place of residence or work then it would lead to making claims under reimbursement basis as opposed to cashless basis in case of network hospitals. The new employer should have a corporate health insurance policy which has enough network hospitals in your area of residence or operation to provide cashless claim settlement services.