According to the Health Report of Corporate India 2023 nearly 3 Lakh is the median sum insured offered by India’s employers. Moreover, the companies aren’t offering comprehensive healthcare options to their employees.
There are less than 5% of companies offer comprehensive healthcare options to their employees that include insurance, telehealth, and other health benefits. Additionally, 42% of employees expressed an interest in the availability of ‘flex benefits’, where they get to choose their healthcare plans.
Additionally, only 30% of employees actively participate in an organization’s healthcare initiatives. Moreover, the survey has revealed the following findings:-
- 67% of claims were raised for an employee’s dependent.
- 26% of companies offer employer-sponsored telehealth to their employees.
- <1% of companies offer OPD coverage to their employees.
- Only 30% of employees participate in a company’s healthcare initiative.
The Indians spend over a third of their lives working, doctors are concerned about corporate lifestyle-induced risks like sedentary lifestyles, the spread of illness, and workplace-related stress.
The employers have their hearts in the right place the survey found that while 60% of Indians believe that their employers care for their health, only 30% actively adopt a corporate-sponsored healthcare benefit.
To make matters worse, <5% of employers offer comprehensive coverage spanning insurance, primary healthcare, and preventive healthcare.
- A majority of employees feel their company cares for their health, yet the adoption rate of healthcare plans is only around 30%.
- Many employees believe that the health benefits offered are not adequately personalized to meet their specific needs.
- Addressing chronic illnesses and mental well-being remains a significant area where companies can enhance their support.
Employer-sponsored health benefits are increasing healthcare penetration in India. As a company operating in the employee wellness and health benefits space, they consulted with over 3700 companies in their corporate healthcare strategy.
The business team modeled data from 3500+ employee healthcare policies and analyzed the habits/adoption/usage of over 3 lakh employees and their dependents. The detailed report can be read by clicking here.
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