Corporate InterCare Policies: Monthly Headcount Adjustments and Dependent Rules

📌 Automatic Monthly Headcount Adjustment and Dependent Rules in Corporate InterCare

Corporate InterCare insurance is designed for organizations with 3 or more employees, offering a comprehensive and flexible health protection solution. One of the most outstanding features of this product is the automatic monthly headcount and dependent adjustment clause, allowing businesses (BMBH) to easily manage the list of insured individuals without complex administrative procedures every time a new employee joins or leaves.

Detailed Automatic Headcount Adjustment Process

• Adding new employees: The insurance contract automatically extends coverage to any employee of the business from their start date, with the coverage amount not exceeding the limit corresponding to the job level of other employees.
• Removing departing employees: Insurance will be automatically canceled as of the termination date of the labor contract for any departing employee.
• Reporting deadline: To implement these changes, the business must notify the insurance company (CTBH) of employee changes monthly before the 15th of the following month within the policy period.

Required Information for Changes

When making additions or removals, the business must provide complete information including: Full name, date of birth, start or departure date, ID card/Passport/CCCD number, job title, insurance program, salary, and any other information requested by the insurance company.

💡 Salary and Coverage Limit Conditions

This automatic adjustment clause only applies to new employees with a monthly salary below VND 140,000,000 or a permanent death and disability benefit coverage of under VND 4,200,000,000 per person for life. If the salary or coverage amount is higher, the business must notify the insurance company, and coverage will only commence from the date the insurance company confirms in writing.

👨‍👩‍👧 Rules for Employee Dependents

In addition to automatic employee adjustments, corporate InterCare insurance offers flexible policies for employee dependents:

• Eligible dependents: Spouse, biological parents, and parents-in-law under 66 years old (up to 75 years old if renewing), and legal children from 15 days old to 18 years old (or up to 24 years old if studying long-term in Vietnam and unmarried).
• Monthly updates: New or removed dependents during the policy period are updated monthly at the same time as employee reporting (before the 15th of the following month).
• Special procedures: Newly married couples or newborn children of existing employees must be reported within 30 days from the marriage registration date or the date the child becomes eligible to join.

💰 Premium Calculation and Short-Term Refunds

In the event of mid-term additions or removals, premiums are calculated in detail as follows:

• Incurred premiums: Calculated based on the short-term premium rate with full benefits.
• Premium settlement: If the premium for the endorsement (SĐBS) increases by 25% or more of the total premium of the signed insurance contract, the incurred premium for this endorsement must be paid within 30 days from the endorsement date, but no later than the contract expiration date.
• Refund for reductions: The refunded premium is calculated proportionally based on the ratio of remaining days to 365 days, based on the main contract term, provided that the reduced party has not made any claims during the insurance period.

⚠️ Business Responsibilities upon Employee Reductions

The business has an immediate obligation to notify the insurance company when an employee or dependent is removed. In the event that the business fails to notify in a timely manner, and the removed employee or dependent incurs medical expenses or claims after leaving but before the insurance company receives the notification, the business is responsible for recovering and refunding the paid amount to the insurance company within 30 days (but no later than the contract expiration date).

📋 Business Checklist

• ☐ Update the list of new and departing employees before the 15th of each month.
• ☐ Adjust salary levels according to the labor contract before the 15th of the following month.
• ☐ Report new dependents (spouse, newborn) within 30 days of the event.
• ☐ Check and pay any incurred premiums if the total cost change is 25% or more of the total premium.

With the flexibility of the monthly headcount adjustment clause, corporate InterCare insurance is truly an ideal choice for businesses to protect their workforce’s health efficiently, transparently, and without unexpected surprises. Is your business ready to experience this peace of mind?

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