Most companies provide hospitalization and medical coverage for their employees and sometimes extending these benefits to the spouse or entire family on shared basis. This extension often entails significant administrative work to keep the records of family members who are eligible for coverage and to make the necessary deduction from employee’s salary.
KaiZenHR Enterprise Group Hospitalization and Insurance modules allows HR to define the various hospitalization and medical scheme and enable employees to elect for the coverage and to keep the necessary dependent information up to date. The system is integrated with the Payroll module to facilitate monthly deduction, if required.
Some key features of the module includes:
- User definable types of insurance and hospitalization plan
- Scriptable formulas for the calculation of premium payable for insurance plans
- Date effected table to store hospitalization premium payable by employee and employer
- Calculation of premium on monthly or annual basis
- Automatic termination from insurance benefits upon employee resignation
- Integration with Payroll for deduction of employee premiums