I have company sponsored group insurance. Do I need a separate health plan?
An employed individual, besides earning a stable salary every month, also gets various other employment related benefits. Gratuity, pension benefits, fringe benefits, leave encashment, etc. are all entitlements which an employee is entitled to. Moreover, employers also provide their employees coverage under a group health insurance plan. Not only employees, their immediate families are also extended coverage under the group health plan. Premiums are often paid by employers and employees enjoy free coverage. Due to this cover, many individuals feel that they do not need a separate health insurance plan for themselves. Is the sentiment correct?
Well, if you are also wondering if your group health cover is enough and you do not need a separate plan, ask yourself these questions first -