New Trends in Health Insurance
For three crisis years, voluntary medical insurance dropped by 13% in fees. This is an average indicator from the data presented in the public domain by the largest market players that have passed all verifications and retained the voluntary health insurance (VHI) licenses. Therefore, insurance companies are trying to be creative and come up with various new programs, which creates new trends.
- Corporate VHI Is Now Preventative
A common trend for companies was the transition from the treatment of employees with the help of the VHI insurance policy to disease prevention. In some way, it is an upgraded version of h1b health insurance h1b. Legal entities are increasingly interested in additions to standard programs, which include the following services:
- Regular physical examinations of workers.
- Preventive vaccinations during periods of exacerbation of situations with influenza, acute respiratory viral infections, insect attacks, etc.
- Preventive examinations at the place of work by a staff therapist every six months.
However, this type of insurance only becomes popular nowadays. Less than 10% of insurance companies offer ready-made solutions with the inclusion of preventive measures under collective health insurance contracts. For prevention, a fairly high surcharge is still required. This can be up to 30-50% of the standard cost of the policy. But some experts are sure that by the next year, the preventive corporate VHI will be the most popular and budget insurance solution.
- Life Insurance Is a New Practice of Large Enterprises
Another interesting novelty of the market was the interest of enterprises in death insurance. This is the life insurance format for employees, including those already retired. The main conditions of the program are the following:
- The employee agrees to deduct a specific amount from the salary if he continues to work. Or he signs a collective agreement. and the employer pays for it.
- The employer concludes a death insurance contract for the worker.
- In case of death, the employee’s relatives receive an amount sufficient to organize the funeral.
And there can be alternative options. For example, the insurer’s partner or the employer himself can be involved in the funeral, while the insurance company transfers the money.
- Forecasts for Collective Types of Employee Life and Health Insurance
According to experts, in the future, life insurance will be the norm for all large enterprises. Today they are the main insurance for this type of policy. More than 90% of buyers seek for it. The growth rate of interest in such insurance is estimated at 100-120% annually since 2016.
Preventive insurance of VHI of employees with a high probability will be allocated in a separate program. Given that demand for it is growing exponentially, we should expect a decrease in its value. Experts are confident that in the future, prevention will be effectively combined with classic contracts in different manufactures and companies.
Collective health insurance for employees is a specific service. Here, within the framework of the opportunities offered by insurers, you can create your own unique program. It is only necessary to find an insurance company ready to agree on specific conditions for you.
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