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Port your Group Health Insurance to an individual plan

Port your Group Health Insurance to an individual plan

Group Health Insurance is an important part of many organisations’ employee benefits program. These policies offer a ton of benefits, from reduced premiums and better claim settlement process, to comprehensive coverage and fewer exclusions.  

Companies purchase Group Health Insurance for their employees as a means to cover their medical expenses in the event of unexpected injuries or illnesses. With the payment of premiums and policy management all handled by the employer, this insurance is a coveted benefit that drives employee retention and satisfaction.

However, a big drawback of the policy is that its benefits end once an employee leaves the organisation. This means those who are changing jobs have to go without health coverage for a while.

But did you know you could port your Group Health policy?

Porting is essentially the transfer of Health Insurance coverage from one policy to another with all the previous benefits and credits intact. So, employees can port their Group Health Insurance to an individual plan while keeping the continuity of benefits.

One of the biggest advantages of porting is that employees can carry forward any waiting period that they have served on their group policies to their individual plans. Employees can similarly port to a Family Floater plan while maintaining the benefits offered by the group policy.

However, employees should keep in mind that-

  • Porting of Health Insurance in this way can only be done with the same insurer
  • The insurance company must be informed of the porting process at least 45 days prior to leaving the company

Will Group Health Insurance soon cover mental illness?

Further Reading

What are Employee Benefits Insurance plans?