Group Medical/Employee Insurance
Employers give group medical insurance to their employees. Members of any associations, firms, and other organizations are among the groups covered by such a policy. Employees can also extend the plan to cover other family members such as spouses, children, parents, and others by paying an additional fee. The premiums paid under this plan, like those paid under other plans, are tax-deductible.
Some policies additionally cover pre-existing conditions and maternity costs. Employees do not need to present any documentation or pass any medical examinations to obtain the plan, unlike other plans. In addition, the premiums are lower here. The plan can be contributory, with employees contributing a portion of the premium, or non-contributory, with the company paying the entire premium.