A new employee health benefits platform, www.plumhq.com, in collaboration with an Indian health insurer, has introduced a group-health insurance cover against the COVID-19 pandemic for corporate employees and their families.
The new group-health insurance policy will provide a hospitalisation cover of $6,535. It additionally offers an outpatient-department benefit of $65 which can be used against consultations, prescribed diagnostics and prescribed pharmacy.
The cover also offers a cash benefit of $13 per day for each day of hospital quarantine for a maximum of two weeks. The policy has a zero-waiting period and has no sub limits for admission to intensive care units.
Plum co-founder Abhishek Poddar speaking with Asia Insurance Review said, “Our product is a group-health insurance policy exclusively for full-time corporate employees. Those issued by two other general insurers are individual policies.”
He said, “Penetration of health insurance in India is quite low. Only the large corporates or the multinationals offer comprehensive health insurance cover to their employees. But the ongoing COVID-19 pandemic has brought awareness and urgency to the corporates who have not provided any such cover till now. Such corporates are now rushing to set up a COVID-19 cover for their employees.
“We are hoping that this would increase the awareness among corporates of how important it is to provide health cover to employees, and these corporates would continue this practice beyond the current pandemic as well.”
Mr Poddar said while there is no waiting period for the policy to kick-in, the policy is valid only if the individual has not travelled internationally anytime within four weeks prior to the policy being bought. Additionally, claims will not be admissible if the individual travels to countries where travel has been restricted under the travel advisory of the ministry of health and family welfare, after the issuance of such advisory.
Plum’s primary product is an employee benefits platform. The platform helps the corporates design, purchase and manage health benefits for their employees. These include health check-ups, doctor consultations, gym memberships, mental wellness and more.