Get the best group health insurance plans for your employees and build a world-class employee benefits program
Health Insurance should never be an option! With Nova's customised plans, provide the best group health insurance to your employees
Safeguard your teams' health with group health insurance plans accompanied by top-notch policy recommendations and industry benchmarks from Nova's insurance experts
No two companies are alike, so why should their benefits be? Discover a wide range of add-ons that go beyond traditional insurance coverage
"Nova is truly a new-age insurance partner, and since it is also venturing into the wellness space, I am sure any HR would want to partner with Nova Benefits as a one-stop solution for everything health."
"The onboarding with Nova was the best experience we've had in the 5 years we've been taking a corporate health policy. The user interfaces having the policy details was intuitive.”
“Through Nova, we were able to help Zuddlers in time of need. Nova team has demonstrated the qualities of empathy and compassion over and over again!”
“The Snapdeal team has had a great experience with Nova. We've been with them for 2 years consecutively! Apart from insurance, they helped us with vaccination and geriatric care for our employees’ parents”
The latest news, reading resources and articles on group health insurance
Group health insurance is a policy that provides coverage to a group of members. Usually, this coverage is taken for employees of a company.
Group health insurance is beneficial in several ways for both employees and employers. For employees, group health insurance provides financial coverage, covers pre-existing diseases without a waiting period and helps provide coverage for their families. For employers, group health insurance helps attract and retain top talent, save on taxes, and build a people-first team.
As of 2021, it is essential to offer group health insurance for any company, startup, or organisation working on-site. A startup needs a paperless, frictionless, and hassle-free solution with add-on benefits for employees. That’s where tech-powered group health insurance solutions and platforms come into the picture.
There are several reasons to choose a plan with add-on benefits. Your employees are bound to be happier when you offer add-on benefits like teleconsultation, employee wellness initiatives, mental health coverage, and maternity benefits. The work culture (and perks) improve the overall employee NPS and makes you a magnet for top industry talent.
Cash Deposit (CD) accounts are created for a company with its insurer for the purpose of insurance-related transactions. It is a non-interest-bearing account, with all the premium payments made by the company being deposited into this account. Maintaining a cd balance in insurance has the advantage of instantly adding employees to the corporate policy by paying the premium out of the CD account.
The premium for your team’s group health insurance depends on the team size as well as the type of policy you opt for you. You can get an estimate for the premium using our policy calculator.
The premium paid to provide a group health insurance policy for employees in India can be deemed a business expense. The Indian Income Tax Act of 1961 considers this expense to be 100% tax-deductible.
Yes, we do. Nova offers a range of benefits to ensure the overall wellness of your team. This includes full body check-ups, mental wellness support, telehealth services, dental check-ups, discounted medicines and maternity wellness benefits.
Our claims team has experience in handling more than 10,000 claims, and we help our clients with their expertise at no additional cost. With more than 7000 claims successfully processed, we make sure that your employees have the best experience and get the maximum amount approved with our advice.
Yes, as long as you buy the group health insurance plan from a trustworthy insurer. To ensure that you invest in the best group health insurance, it is important to look at different insurers and prices before making your final decision, which is where Nova comes in. Nova Benefits is an IRDAI licensed insurance broker that partners with multiple insurers to get you the best group medical insurance plans.
Waiting period refers to the time period before a selected list of ailments begin to get covered by your policy. Usually, this applies to pre-existing ailments, and some ailments may have a waiting period of a year or two. Nova's group health insurance plans have zero waiting period on all ailments covered under insurance.
You can use an automated onboarding solution with a self-service portal and HRMS integration for a seamless employee onboarding experience. Your employees can update their details, dependent information, check policy coverage, and place claims requests with a tech-based solution like Nova
According to the IRDAI, a minimum of seven employees are required to provide group health insurance.
Pre-existing diseases refer to ailments an individual is diagnosed with before or while buying health insurance. The group health insurance offered by Nova covers pre-existing diseases of employees from day one if any.
Employees can avail cashless benefits under their group health insurance if they have undergone treatment in a network hospital of the insurer and if the treatment is covered under their policy.
You can schedule a call with the Nova team, and we’ll help you find the best group health insurance for your team in terms of benefits, price and claims experience.
Group health insurance has several advantages over individual health insurance; this includes coverage for pre-existing diseases, no waiting period, coverage for maternity expenses and coverage for parents. Group health insurance is also more cost-effective than individual health insurance as insurers charge lesser premiums due to lower risk of adverse selection.
Yes, you can change your group health insurance policy by terminating your team’s existing group health policy. However, the refund will depend on the insurance company’s terms and conditions.