November 19, 2023

What to Do or Not for HR while managing GMC and GPA policies?

What to Do or Not for HR while managing GMC and GPA policies?

Employee satisfaction is a crucial aspect affecting an organization’s productivity. It significantly affects how a firm grows and maintains its competitiveness. Taking care of the employees is the basic task of HR. they do everything they can to make their employees happy and safe in the office environment. Employers provide a range of perks, such as preferred leave and insurance, to keep workers happy and motivated.

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The two most prevalent insurance plans offered by employers to insure their employees are group medical coverage (GMC) and group personal accident insurance (GPA). These plans aid companies in covering the costs of unlucky workplace accidents. Both these policies guarantee the employees’ welfare by providing them with financial and medical coverage.

What is a GMC insurance policy?

A sort of health insurance called a Group Medical Cover, or GMC is for a group of people, such as the staff of a single company. It also extends to their dependents, such as their spouse, kids, and parents. Typically, an employer provides such a policy as a perk and pays the premium. The costs for this type of health insurance are kept cheap since the risk is shared among a large group of people who are already covered.

What does GMC cover?

  • Event of a longer than 24-hour admission, hospitalization costs are paid.
  • It covers costs incurred before and after hospitalization, such as X-rays, medical reports, and medication costs.
  • It provides immediate coverage for pre-existing conditions like diabetes, hypertension, etc.
  • The policy may provide coverage for serious conditions like cancer and cardiovascular problems.
  • In addition, there is coverage for prenatal costs and newborn baby medical costs.
  • Additionally, GMC covers may offer the option to select add-on covers for a modest additional fee. Maternity insurance, personal accident insurance, and AYUSH treatment insurance are popular add ons. Additionally, childcare procedures and outpatient medical services are frequently covered by a GMC.

A Group Mediclaim Insurance is applicable only if the below-mentioned criteria are followed:

  • They occur in India and are covered by the policy’s time frame. Hospitalization costs for a minimum of 24 hours


    • are allowable. If a covered member chooses a room with a  higher rent category than what is allowed for him, the corresponding deductions will be made.

What is a GPA insurance policy?

A type of insurance called group personal accident insurance (GPA) covers a group of people financially in the event of unanticipated incidents that cause death, serious injury, or disability.

What is a GPA cover?

(It offers financial protection if an accident results in partial, total, or permanent disability (such as the loss of limbs or vision).

·        In the worst-case scenario, it offers dependents financial security.

·        Ambulance and transportation costs are also offered as an optional benefit.

·        When hospitalization costs are related to an accident, it covers things like room rent and daycare visits.

·        In the event of death or permanent disability, it pays for specific benefits for dependent children, such as college tuition or wedding expenditures.

The employees must enroll themselves to obtain coverage for themselves and their eligible dependents. The HR should collect relevant enrolment data like Employee ID, Name, Date of Birth, Gender, Relationship, etc., they have to make sure that the data is relevant and valid and there after submit the details to the insurer. The employee’s data must reach the insurer within 30 days of their joining. Employees also have to inform HR whenever they need to get a new dependant added to their policies, like in case of marriage, birth, or adoption of a child. All this information has to be submitted to the insurer within 30 days of the process.

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