New Delhi, March 11 (IANS). In the last five years, India has registered a growth of about 300 percent in flexible health insurance schemes. This information was given in a latest report released on Tuesday.
The report of Marser Marsh Benefits (MMB) showed that despite the workforce growing in the country, companies are re-searching for benefits to meet the different needs of employees.
Beyond the legal provisions, companies are offering innovative solutions such as flexible health insurance plans.
Inquilateral coverage options focus on parents cover, siblings and wellness programs and financial planning tools.
The report states that these visionary approaches also help to attract and maintain top talent in the competitive landscape.
Marser Marsh Benefits India Leader Managing Director Havil Kalita said, “Employees’ benefits in India are no longer limited to healthcare coverage, they are developing in overall welfare solutions. There has been a significant change towards flexible, intelligued, Future-Reddy Benefits.”
He further said, “There has been a 300 percent increase in adoption of flexible health insurance in the last five years. Employers are recognizing the importance of parents’ insurance to mental health programs to meet different needs of their employees.”
The report highlights transformational changes in India’s employee profit scenario, which includes employer sponsorship for parents’ insurance, which has increased from 35 percent in 2019 to 53 percent in 2024.
Organizations and insurers are also promoting cashless recruitment in cashless hospitals, which has increased the payout ratio and the average time to stay in the hospital has come down from 5.9 to 5.3 days.
In addition, the employers are expanding rapid coverage by understanding the needs of the employees, including the benefits of fertility treatment, surrogacy and adoption.
Employees are demanding more autonomy in choosing benefits, increasing the adoption of customizable insurance welfare programs.
The report said that the organizations are giving priority to measures such as preventable healthcare mazers including initial diagnosis, screening and welfare programs to reduce long -term medical expenses.
-IANS
SKT/ABM
