Hi All,

Assuming that approximate Two to Three Lakhs is the insuarance cover in most of the mid-large size companies. I would like to know how would a company manage for exceptional cases where an employee/or it's family members medical expense is higher than that amount especially in cases where a family member is undergoing Dialysis/Chemotherapy where the expense goes higher than the insured amount.

How would a company take a call and make a precedent on the best way the companies could help them. I need to know is it in a form of loan? what interest ? etc.

I know a lot of this is Management call however what would help is If I know what is the usual company practice in such cases.

Regards,

Arjun 

Arjun,

Generally in the manufacturing sector we have a practise of taking a Floater medical policy in the companies account apart form employees medical policy. The amount may vary depending upon the industry. But this would be used when an employee exceeds his limit.

For example : Chemotherapy it would cost 4.25L Employee is entitled for Rs2Lakhs. The company gives an instruction to the insurance company to take balance 2.5L from the Floater Fund. Some companies asks the employees to pay the premium or the floater utilized.

Hope this helps.

RC