The health insurance coverage at Razorpay now covers live-in partners and LGBTQIA+ people

by Team Iamsafeatwork

28-06-2023

Safety

Fintech business Razorpay stated on Wednesday that it was updating its Employee Health Insurance Policy to add several significant features to cover all team members, including its LGBTQIA+ coworkers, live-in partners, and their families. This move is being made in honour of Pride Month.

Razorpay’s updated health insurance plan will now include live-in partners, same-gender partners, and colleagues who identify as LGBTQIA+, live-in partners, and their families as part of the company’s commitment to fostering an inclusive and diverse workplace culture.

Razorpay’s updated health insurance plan will now cover live-in partners, same-gender partners, people who identify as LGBTQIA+, as well as gender reassignment surgery, infertility treatment, and other procedures as part of its commitment to fostering an inclusive and diverse workplace culture.

Gender reassignment surgery: Gender reassignment surgery will be covered by Razorpay’s employee insurance coverage without a cost cap and solely subject to a co-pay, the company said. Razorpay takes pleasure in being a gender inclusive workplace.

Infertility treatment: Razorpay covers coverage for infertility treatment and any subsequent post-delivery issues as part of its maternity benefit package. This is done with the understanding that women frequently handle pre- and postnatal problems, which are otherwise not covered by maternity coverage. The maternity benefit coverage amount has also been enhanced by Razorpay from Rs. 50,000 to Rs. 75,000.

Ayurvedic Treatment: The new insurance plan will include Ayurvedic therapy under certain conditions, taking into account the fact that many employees could prefer alternative medicine.

Bereavement and widow-widower benefit: The preexisting policy, which was implemented in the early stages of the epidemic, required employees to make a 10% co-payment. Razorpay has made the decision to exclude employees from the 10% co-pay. In the terrible case of death while hospitalisation under the bereavement benefit, Razorpay has chosen to waive the 10%.

In the same way, in the event of an employee’s untimely passing, the widow and widower benefit continues in effect for the remainder of the policy duration for dependents, with the 10% co-pay totally waived.

In order to create a workplace that is focused on its employees, Razorpay has implemented a number of industry-first initiatives over the past two years, including “No-Meeting Days” and “Wellness Leaves.”