Are you struggling to find the best employee health benefits companies that cater to your employee's unique needs and pain points?
As an HR professional, you understand that offering health benefits to your employees is a critical component of building a successful and sustainable company. You want to provide your employees with the best health insurance coverage, but with so many options available, it can be overwhelming and confusing to know where to start.
In this blog post, we will provide you with a detailed overview of the best employee health benefits companies in India. We will help you make informed decisions that provide the best healthcare coverage for your employees.
But before we dive into the top employee health benefits companies in India, let's take a closer look at the importance of offering corporate health insurance as part of your employee benefits package.
According to a recent survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), more than 80% of employees in India consider health insurance to be one of the most important employee benefits, second only to annual leave.
Moreover, with the rising cost of healthcare, employees are seeking more comprehensive coverage beyond basic healthcare expenses. They want coverage for pre-existing diseases, medical emergencies, and pre and post-hospitalization expenses, which can significantly impact their financial well-being.
But providing quality health insurance coverage isn't just important for the well-being of your employees, it can also have a positive impact on your company's bottom line. A healthy workforce leads to increased productivity, reduced absenteeism, and improved morale.
So, without further ado, let's explore the best employee health benefits companies in India that offer the most comprehensive coverage to keep your employees healthy and happy. But before delving into the companies, let’s find out why employers should provide health benefits to their employees.
Why Should Employers Provide Health Benefits to Employees?
When it comes to building a successful and sustainable company, providing employee health benefits is one of the most critical components.
By offering quality health insurance coverage, you can attract and retain the best talent, increase employee productivity, and improve overall job satisfaction.
Here are a few reasons why employers should provide health benefits to their employees:
- Attract and Retain Top Talent: In today's highly competitive job market, offering comprehensive health benefits is a powerful way to attract and retain the best talent. According to a study by Harvard Business Review, 60% of people report that benefits and perks are a major factor in considering whether to accept a job offer.
- Increase Employee Productivity: When employees have access to quality healthcare coverage, they are more likely to take care of their health, which can lead to increased productivity and less absenteeism.
- Improve Job Satisfaction: Providing health benefits can help improve job satisfaction and overall employee morale. When employees feel that their company cares about their well-being, they are more likely to be loyal and satisfied with their jobs.
- Lower Turnover Rates: Offering health benefits can help reduce turnover rates by creating a sense of loyalty and commitment to the company. When employees feel valued and supported, they are less likely to leave for a better offer elsewhere.
- Positive Public Image: Providing quality health benefits can also improve your company's public image and reputation. Companies that are known for taking care of their employees are often viewed in a more positive light by customers, investors, and the public.
Which Employee Health Benefits Do Firms Usually Offer?
When it comes to choosing the right employee health benefits, it's essential to understand the different types of coverage that companies offer. In this section, we'll explore the most common employee health benefits that firms usually provide to their employees.
1. Group Health Insurance Plan
A group health insurance plan is a policy that provides health insurance coverage to a group of people, such as company employees. This type of plan offers more comprehensive coverage than individual health insurance plans and often has lower premiums due to the larger pool of insured individuals.
Some of the best employee health benefits companies offer employee health insurance plans that cover pre-existing diseases, pre and post-hospitalization expenses, and medical emergencies.
2. Health Check-Ups
Many firms offer their employees regular health check-ups as part of their employee benefits package. These check-ups can help identify potential health issues early on, making it easier to manage or treat them. Some firms also offer annual medical check-ups that cover blood tests, vision tests, and other diagnostic tests to ensure that their employees are in good health.
3. Medical Emergency Coverage
Medical emergencies can occur at any time, and it's important to have the necessary coverage to deal with them. Most firms offer their employees medical emergency coverage that includes hospitalization expenses, ambulance charges, and emergency medical services.
4. Pre and Post-Hospitalization Expenses
Pre and post-hospitalization expenses refer to the medical expenses that an individual incurs before and after being admitted to the hospital. Many firms offer coverage for pre and post-hospitalization expenses as part of their employee health benefits package.
5. Employee Wellness Programs
Employee wellness programs are designed to promote healthy habits and reduce the risk of illness and disease among employees. These programs may include gym memberships, healthy eating programs, stress management programs, and smoking cessation programs.
6. Vision and Dental Insurance
Some firms offer their employees vision and dental insurance as part of their employee benefits package. This type of coverage provides employees with coverage for routine check-ups, cleanings, and basic procedures.
7. Mental Health Coverage
Mental health coverage is becoming increasingly important in today's world, where stress, anxiety, and depression are prevalent. Many firms offer their employees mental health coverage that includes counseling, therapy sessions, and medication.
8. Maternity and Paternity Benefits
Maternity and paternity benefits are designed to provide support for new parents during the birth of their child. Many firms offer paid maternity and paternity leave, as well as additional benefits such as lactation rooms, baby care rooms, and parental support programs.
Top Five Companies That Provide Best Employee Health Benefits
In our previous section, we discussed the importance of offering comprehensive employee health benefits in India. Now, let's take a closer look at the top five companies that provide the best employee health benefits in the country.
Loop
Loop is a digital health platform that provides a range of customizable health benefits solutions for employers in India. They offer a range of services, including virtual health consultations, personalized health coaching, and stress management solutions.
Loop's offerings aim to address the rising stress levels among employees, which can have a negative impact on their overall well-being and productivity. By providing personalized health coaching and stress management solutions, Loop aims to help employees take charge of their health and improve their overall well-being.
Movespring
Movespring is a mobile-first wellness platform that provides gamified challenges and fitness-tracking tools to help employees stay healthy and active. Their solutions aim to make wellness fun and engaging for employees, which can help improve overall participation and adherence.
By gamifying wellness, Movespring aims to make it a more accessible and enjoyable experience for employees, which can help foster a culture of health and well-being within organizations.
Vantage Fit
Vantage Fit is a comprehensive corporate wellness solution that provides a range of health and wellness programs to help employees stay healthy and productive. Their offerings include personalized nutrition plans, fitness tracking, and virtual wellness coaching.
Vantage Fit's solutions aim to help employees make lasting lifestyle changes, which can lead to improved health outcomes and productivity.
Woliba
Woliba is a digital health and wellness platform that provides personalized wellness solutions to employees. Their offerings include virtual consultations with nutritionists and health coaches, stress management solutions, and mental health support.
Woliba's solutions aim to help employees build healthy habits and improve their overall well-being, which can have a positive impact on their personal and professional lives.
Wellable
Wellable is an employee wellness platform that provides a range of wellness solutions to organizations of all sizes. Their offerings include personalized wellness programs, fitness challenges, and health coaching. Wellable's solutions aim to promote a culture of wellness within organizations, which can help improve overall employee health and productivity.
Each of these companies offers unique solutions to address the challenges faced by employers and employees when it comes to providing health benefits.
Whether it's addressing rising stress levels, making wellness fun and engaging, providing personalized solutions, or promoting a culture of health and wellness, these companies are leading the way in providing innovative health benefits solutions for the modern workforce.
What Sets Loop Apart?
Loop is a tech-driven employee health benefits platform that provides personalized and accessible healthcare for employers and their workforce. It offers a range of solutions that are designed to improve the overall health and wellbeing of employees while reducing the cost of healthcare for employers.
Let's take a closer look at what Loop offers and what sets it apart from others on the list.
- Personalized healthcare: Loop offers a personalized healthcare experience for each employee, which includes access to a dedicated health coach and virtual care services. This ensures that employees receive the care they need when they need it, regardless of their location.
- Healthcare navigation: Loop's platform offers an easy-to-use navigation system that makes it simple for employees to find and access the care they need. This includes a provider search tool, appointment scheduling, and prescription management.
- Wellness programs: Loop's platform offers a range of wellness programs that are designed to help employees maintain good health and prevent chronic conditions. These programs include fitness challenges, stress management, and nutrition coaching.
Empower Your Workforce
Employee health benefits are critical to the success of any organization, and choosing the right company to provide those benefits can make all the difference. By considering the offerings and solutions of Loop, Movespring, Vantage Fit, Woliba, and Wellable, employers in India can provide their employees with top-of-the-line healthcare benefits that can help improve overall health and wellness.
As we've seen, Loop provides a comprehensive suite of benefits, including mental health support, health checkups, and insurance coverage for pre-existing conditions, all of which can help employees feel secure in their healthcare coverage.
What sets Loop apart is its innovative approach to personalized wellness, which can help employees identify and address health concerns before they become serious issues.
If you're interested in learning more about how Loop can help you provide the best possible healthcare benefits to your employees, we encourage you to visit our employee benefits page. Take advantage of our expertise and find out how they can help you build a healthier, more productive workforce.
