Companies are withdrawing health insurance cover facility for employees’ parents under group mediclaim policies citing rising costs. Parental cover, routinely provided by companies around five to six years ago, is now sponsored by employers in just 36% of group covers.

In almost every employee benefit group policy where parental cover is included, a bulk of the claims is not from employees, but for treating their parents. Companies are discontinuing the cover to prevent their premium bills from galloping every year.

IT is already in shambles and every new entrant have to think a lot before joining a IT company

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