Rising Covid claims push up group health covers’ cost by 40%

Rising Covid claims are pushing up the cost of group health insurance for employers by 25-40% in the wake of the second wave of the pandemic. This, even as new demand for employee health cover is coming from smaller employers like small and medium-sized enterprises (SMEs) and MNCs with less than 50 employees.

Small business owners are realising that the Employees’ State Insurance Corporation (ESIC) programme under which they are covered is inadequate and are opting for group cover.