·
94% of respondents said unexpected medical
expenses cause them financial stress
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Nearly seven in ten respondents could sustain
themselves financially for six months or less in case of a job loss
·
Protection gap - 84% consider additional health coverage
beyond employer insurance important, yet nearly half do not have personal health
insurance apart from their employer-provided Group Medical Cover (GMC)
·
Lack of awareness and a ‘will buy later’ attitude
remain key barriers to purchasing personal health insurance
Mumbai: Tata AIG
General Insurance Company, today released the findings of its latest study on
the evolving healthcare concerns of corporate employees titled The Corporate
Health Protection Pulse 2026. The study found that rising healthcare costs have
emerged as one of the foremost concerns for corporate employees, surpassing
concerns about job security, EMI obligations, global instability among other
concerns.
The study also underscores the
growing financial burden of healthcare on India’s workforce. Nearly 94% of
respondents said unexpected medical expenses cause them financial stress,
making it a bigger concern than job loss or career stagnation. At the same time,
financial resilience remained limited, only 12% believed they could manage financially
for more than a year without a job. The findings show that many corporate
employees may not be prepared to withstand a prolonged loss of income.
Nearly seven in ten respondents said they could sustain themselves
financially for only six months or less during a job loss. The cost of
hospitalisation, lifestyle diseases, health cover for family, mental health and
lack of savings for emergencies emerged as the top 5 healthcare-related
concerns for corporate India, reflecting the growing need for stronger
financial preparedness and health protection.
The study further identifies healthcare expenses as the biggest
financial concern during job transition, surpassing loss of income and EMI.
The concern is exacerbated by a stark awareness gap amidst respondents.
While 88% consider uninterrupted health insurance coverage during a job change
important, however, only 40% are aware of solutions that ensure continuity of medical
cover. This implies a strong need for raising awareness about insurance during
the critical phase of job transition.
Sharing his perspective on the
study, Dr. Santosh Puri, Head of Retail – Health Underwriting at Tata AIG
General Insurance said, "Our aim with this study was to better
understand how corporate employees perceive their employer-provided health
insurance and to identify the gaps that continue to exist in awareness and
preparedness. While Group Medical Cover remains an important pillar of employee
wellbeing, the findings show that many individuals are still uncertain about
the extent of their coverage and whether it would be adequate during a medical
emergency or a job transition. As healthcare costs continue to rise, we believe
awareness and financial preparedness will become increasingly important. We
hope these insights encourage employees to make informed decisions about their
health protection needs and foster greater collaboration between employers,
insurers and policymakers to build a more financially resilient workforce."
A deeper look at employer-provided
Group Medical Cover (GMC) reveals a significant protection gap. While 84%
of respondents believe it is important to have additional health coverage
alongside their employer-provided GMC, yet nearly half (45%) do not have any
additional health insurance beyond their employer-provided cover. Lack
of awareness and a ‘will buy later’ attitude emerged as key barriers
to purchasing additional health insurance, especially amongst the age group of
28-34 years.
Another key finding from the
study points to a protection gap – while a significant number of
employees are satisfied with their Group Medical Coverage (GMC), they are not
necessarily confident about the adequacy of the coverage, with nearly 75%
agreeing that employer-provided GMC alone would not be sufficient in the event
of an emergency hospitalisation.
The survey brings to light
critical gaps in employees' understanding of the scope and limitations of
employer-provided health insurance. Only 41%
of corporate employees said they are fully aware of all the features and
benefits of their employer-provided GMC, highlighting the need for raising
awareness about GMC.
Family protection continues to
be the strongest driver for purchasing additional health insurance. Respondents
cited higher sum insured, coverage for family members and continuity of
coverage during job transitions as the most important features they would look
for while evaluating a top-up plan, reflecting a growing preference for
protection that complements GMC.
Collectively, the findings
reinforce that meaningful health protection extends beyond employer-provided
insurance to include adequate coverage, informed decision-making and continuity
of protection. Closing these gaps will be essential to building a healthier,
more financially resilient workforce.
The study surveyed over 748
corporate employees aged 28–55 years across Mumbai, Delhi, Bengaluru,
Hyderabad, Chennai, Ahmedabad, Pune and Kolkata. All respondents were
covered under a Group Medical Cover (GMC) policy provided by their employer.