Changes in Medical Schemes for Salary Professionals

A technology company whose Indian arm is headquartered in Bangalore has corded with Aon Hewitt to study a range of medical benefit programmes accessible across the industry, which can be adopted by the company.

The HR head said, "We have asked the consulting firm to give us more information and may roll out some new medical policies for our employees." An attractive medical package will not take priority over a compensation arrangement for the younger lot but it often concerns the middle-level and senior employees, says Aon Hewitt's Shankar.

Philips Innovation comprehended that making an employee pay a definite amount of premium for a parental insurance of Rs.2 lakh, irrespective of the need for it, was not the best option available. From this year, they have allowed an employee to select insurance for parents between Rs.1 lakh and Rs.5 lakh so that the premium amount differs according to the employee's needs.

Deepak Shetty, HR head, "Unlike in the West, premiums here are still low and firms can pick them up as of now. Also, not many have individual insurance policy portfolios in India and therefore, companies can pick it up on their behalf to provide more security.

Implementing these benefits and residing a step ahead of the contemporaries is always on the anvil. No matter what the reason is, healthcare is no more a hygiene factor for companies - it is now a mindful retention tool.