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At a Glance
- •Get GMC quotes from 30+ IRDAI-registered insurers - free, no obligation
- •Plans available for groups from 5 to 5,000+ employees
- •Sum insured options typically range from Rs.1 lakh to Rs.10 lakh per family
- •Premium starts from approximately Rs.165 per employee per month
- •Expert guidance from an IRDAI-licensed broker at no extra cost
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support@securenow.inIndicative Pricing
Group Health Insurance Premium - What to Expect by Company Size
Premiums vary by insurer, city, employee age profile, and add-ons. The ranges below are indicative for a standard Rs. 3 lakh sum insured GMC plan without add-ons.
| Company Size | Annual Premium Range | Per Employee / Year | Notes |
|---|---|---|---|
| 7–20 employees | Rs. 45,000 – Rs. 1.2 lakh | Rs. 4,500 – Rs. 7,500 | Minimum group; limited insurer options |
| 20–50 employees | Rs. 1.2 lakh – Rs. 3 lakh | Rs. 3,800 – Rs. 6,500 | Broader insurer choice; add-ons viable |
| 50–200 employees | Rs. 3 lakh – Rs. 12 lakh | Rs. 3,200 – Rs. 5,500 | Custom underwriting; PPN savings apply |
| 200+ employees | Actuarial pricing | Negotiated per group profile | Loss ratio-based; renewal tied to claims |
Important: Premiums in Mumbai and Delhi NCR are 15–25% higher than in Tier-2 cities due to hospital cost differences. Adding maternity cover or OPD typically increases premium by 15–30%.
Choosing Coverage
How to Choose the Right Sum Insured for Your Group
The sum insured is the maximum the insurer pays per employee (or per family, if floater) in a policy year. Choosing too low leaves employees underprotected; choosing too high inflates premiums unnecessarily.
| Sum Insured | Best For | Typical Premium Impact | Watch Out For |
|---|---|---|---|
| Rs. 2–3 lakh | Tier-2/3 city companies, younger workforce (avg age < 30), budget-first employers | Base rate - lowest premium | Insufficient for serious illness or surgery in metro hospitals |
| Rs. 5 lakh | Standard choice for metro companies; covers most hospitalisation scenarios well | ~25–40% above Rs. 3L plan | May still fall short for ICU, cardiac, or cancer treatment in top-tier hospitals |
| Rs. 7.5–10 lakh | Senior employee-heavy teams, mixed age profile, metro locations, or high-risk industries | ~50–80% above Rs. 3L plan | Higher premium - consider a Rs. 5L base + super top-up as a cost-effective alternative |
| Floater basis | Covers the entire family under one pool - ideal when dependents are young and healthy | Family floater costs more per policy but less per head vs individual basis | If multiple family members claim in the same year, the shared pool depletes faster |
SecureNow's Recommendation
For companies in Delhi NCR, Mumbai, and Bengaluru: Rs. 5 lakh minimum - metro hospital costs have risen 40–60% since 2020
For companies in Tier-2 cities: Rs. 3 lakh is workable, but Rs. 5 lakh is becoming the benchmark for competitive hiring
Consider a Rs. 3L base + voluntary top-up option: employees can self-upgrade at group rates, reducing your cost
If your workforce average age is above 40, Rs. 7.5L or a super top-up policy is strongly advisable
Tax Advantage
Tax Benefits of Group Health Insurance for Employers and Employees
Group health insurance delivers tax advantages at both the company and employee level - making it one of the most tax-efficient employee benefits you can offer.
For the Employer (Company)
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Section 37(1) - Business Expense Deduction
The entire premium paid for your employees' group health insurance is 100% deductible as a business expense. This reduces your company's taxable profit directly.
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No TDS liability
You do not need to deduct TDS on the premium paid to the insurer. The transaction is treated as a direct business expense, not a salary component.
- ✓
GST on premium is an input credit
The 18% GST paid on the insurance premium can be claimed as input tax credit (ITC) if your company is GST-registered, effectively reducing the net cost of the premium.
For the Employee
- ✓
Not a taxable perquisite
Employer-paid group health insurance premium is NOT treated as a taxable perquisite under Section 17(2) of the Income Tax Act. Employees receive health coverage at zero tax cost.
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Section 80D - for voluntary top-up premiums
If an employee pays their own premium for a voluntary top-up or parent add-on, they can claim 80D deduction: up to Rs. 25,000/year for self/family, and Rs. 50,000 for parents above 60.
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No impact on standard deduction
The group insurance benefit does not affect the employee's Rs. 50,000 standard deduction. It is a separate, additional benefit that reduces effective compensation cost for the employer.
Example: A company with 50 employees paying Rs. 5 lakh annual GMC premium can deduct the full Rs. 5 lakh as a business expense plus claim ~Rs. 90,000 in GST ITC - reducing the effective cost of the policy by nearly 18%.