India has long been a dynamic economy with numerous workers from a wide range of industries. But in the ever-changing work landscape, the fear of insecuring their company’s health insurance benefits after a layoff, retirement, or if the employer cancels coverage is an unsettling concern for most people.

In such scenarios, the question arises: how to manage your medical expenses efficiently?

Luckily, the answer lies in an often-overlooked option: porting your group health insurance. Portability provides a safety net and allows employees to seamlessly transition from group to individual health insurance.

This strategy not only ensures continuity of health coverage, but also provides the flexibility to select a personalized plan tailored to an individual’s unique health needs.

Also Read: How to Convert Your Employer-Provided Group Health Insurance Coverage to Your Personal Policy

Porting group health to individual

Take for example the case of Ramesh Mehra* who worked for a leading technology company in Mumbai. Like many others, he appreciated the perks of his job, particularly the group health insurance that protected his family of four.

But his life took an unexpected turn when he was laid off following a corporate reorganization. The first question that came to mind was, “What about our health insurance?”

Ramesh discovered he could transfer his group health insurance. This option became his safety net, ensuring his family was not left vulnerable. It allowed him to switch from group to individual health insurance and gave him the flexibility to choose a tailored plan that best suited his family’s needs.

Also Read: Moneycontrol-Securenow Health Insurance Reviews: Your Guide to Choosing the Most Suitable Health Insurance Plan

Here’s how he did it.

A look at the fine print: Ramesh began to scrutinize the portability clause in his group policy. Knowing the conditions attached to portability laid the groundwork for his transition.
Contacting HR: He communicated with HR at least a month and a half before his last day, which helped smooth the transition and avoid surprises.

Keep Existing Benefits: Ramesh was relieved to learn that all of his corporate group insurance benefits would remain unchanged if transferred to an individual policy.

Document Submission: After selecting a single policy, he provided the necessary documents to begin the porting process.

Waiting time: After submitting his documents, there was a short waiting time. This period gave his insurer time to review his application and decide on the terms of the new policy.

Know the benefits of continuity

No waiting time: Ramesh had been with his company for five years. This eliminates the typical waiting time for a new policy.

Tax Benefits: Under Section 80D of the Indian Income Tax Act, he enjoyed deductions on the premium paid on the new policy.

For Ramesh and many like him, layoffs or retirement shouldn’t mean compromising on health insurance. Porting allows them to ensure continuity and protect their loved ones. Whenever life turns, remember Ramesh’s story—and know that policy porting could be the silver lining.

Note: *The character and event featured in this article are entirely fictional and for illustration purposes only. Any resemblance to actual events or persons living or dead is purely coincidental.