If you’re a small or medium sized company, the China headquarters of an international corporation school, a foreign diplomatic body, a business association or any kind of organization which employs three or more people, group health insurance is an ideal solution for your employees needs.
Put simply, group health insurance for expats in China have many advantages over individual packages and generally are able to offer a better and more comprehensive level of coverage at a lower relative cost. This is because the risk is spread over a large group of people. Similarly deductibles are crucial here – allowing those covered to pay a certain percentage of the medical cost before the insurer picks up the rest of the bill can help keep premiums down.
The Difference Between Individual and Group insurance policies
When an individual expat in China takes out a health insurance policy, arranged and paid for by themselves directly, they are to a certain extent in control of their premium or at least have more direct influence over it. They can decide for themselves if they want to visit the doctor and use their policy for non-essential ailments, and in turn help keep their premium down. But in a group policy, employees are more likely to use their policy due to a perception that it is a benefit provided by their company which they have earned the right to use. So more non-essential visits to healthcare facilities are likely – making the employee pay a certain amount upfront helps reduce this and keep premiums manageable for all in the group.
The group plan can be tailored to include all kinds of benefits which cover dentist visits, maternity needs, personal accidents, medical evacuation and a range of other customizations to fit expat health insurance needs in China.