4 min read

Empowering LGBTQIA+ Employees, Nova Benefits Rolls Out An Inclusive Health Insurance Cover For Companies

As featured in The Economic Times, The Hindu, ET BFSI, CXO Outlook, ET HRWorld

Overview:

  • Breaking prevalent stereotypes, the same-sex insurance policy allows dependants to be included under the cover irrespective of their sexual orientation and/or gender identity
  • Companies that have partnered with Nova Benefits for the same-sex insurance cover plan include Khatabook, SnapDeal, SplashLearn and Dev Synthesis 
  • The same-sex cover offered by Nova lets employees enrol their LGBTQIA+ partner as a dependent along with other immediate family members
  • The following article has been featured in The Economic Times, The Hindu, ET BFSI, CXO Outlook, ET HRWorld

Nova Benefits, an employee wellness platform centred on corporate health insurance, announced the roll-out of LGBTQIA+ or Same-Sex Corporate Health Insurance cover for companies

Nova Benefits aims to provide companies equal and inclusive high-quality employee wellness benefits. On this front, the company is working closely to understand both community needs and corporate requirements, to provide the best-in-class and most inclusive employee benefits. Nova currently provides LGBTQIA+ corporate health insurance to several companies, including Khatabook, Snapdeal, SplashLearn, FlexiLoans Technologies Pvt Ltd, and Dev Synthesis, and looks forward to having more companies on board in the near future.  

Organisations have the judicious responsibility to ensure employee wellness, along with taking charge of Diversity and Inclusion needs in the working environment. Similarly, when it comes to healthcare, which is a basic necessity, employees and their families must be provided equal access, with no discrimination on the grounds of sexual orientation or gender identity. However, standard health insurance plans do not consider relationships beyond heterosexual couples, making equal access to healthcare benefits a challenge. In this regard, the LGBTQIA+ corporate health insurance cover roll-out by Nova Benefits, is a great choice, helping companies incorporate equal and high-quality wellness benefits seamlessly.

Speaking about the LGBTQIA+ cover, Saransh Garg, CEO & co-founder of Nova Benefits said, “Our mission at Nova Benefits is to build happier and healthier workplaces for everyone. We’re doing so by working with companies to make health benefits inclusive and accessible to all employees and their families without any discrimination. While we have always provided gender-independent health covers for our employees, a conversation with Snapdeal helped us understand that companies are also actively working towards having policies that bring more inclusivity to the workplace. This is a very heartening evolution in the corporate world. Understanding our customer needs, we are happy and excited to roll out the gender-inclusive health insurance cover for companies supporting LGBTQIA+ employees and their families.”

He further added, “What is also interesting to note is that in addition to all-inclusive covers, we also have companies approaching us exclusively for LGBTQIA+ covers as a standalone offering, over and above the standard health insurance cover. This inclusive thinking is a step in the positive direction, and we look forward to supporting more such companies on this front.”

As a part of the LGBTQIA+ corporate health insurance cover offered via Nova Benefits, an employee can enrol their same-sex partner as a dependant, along with other immediate family members. Breaking prevalent stereotypes, the policy allows dependants to be included irrespective of their sexual orientation and gender identity. There is also an option to increase the cover for LGBTQIA+ employees and provide maternity, paternity, and childcare benefits. These personalised policies are diverse and inclusive, with no differentiation in claim or cover.  

The LGBTQIA+ cover goes a long way in showcasing companies’ unwavering commitment to building diverse, inclusive, and equitable workplaces. Companies that offer LGBTQIA+ cover to their employees recognise the validity of relationships irrespective of gender identity and sexual orientation. Such a cover ensures that employees feel cared for and valid in the workplace. Interestingly, even studies have proven that a diverse workforce fosters innovation, improves the bottom line, and even helps recruitment. The LGBTQIA+ cover has more benefits than just optics for a company and employees alike.

Click here to know more about Nova Benefits.

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