QubeHealth, embedded-finance, health-tech company, focused on redesigning the Indian healthcare experience, has partnered with Nova Benefits, the Bengaluru-based employee wellness startup, to launch a full-coverage, employee health benefits product that combines 0 percent pre-approved healthcare financing, health insurance, and a healthcare marketplace for Indian corporates and their employees.
The combination of 0 percent financing with health insurance takes aim at the massive Out-of-Pocket-Expenditure (OoPE) spends on healthcare by Indians every year. ‘OoPE’ accounts for over 60 percent of India’s entire healthcare expenditure, with 7 out of 10 Indians not being covered under any health insurance or those with insurance, being under-covered.
Chris George, CEO & Co-Founder of QubeHealth, said that, “ We share a common mission with Nova Benefits and want to simplify Indian healthcare for the employed Indian. This partnership is a step in that direction.”
Saransh Garg, Co-Founder of Nova Benefits, added, "Historically employee health insurance and wellness has just been a checkbox item for corporates. The pandemic has changed that. We are excited to partner with QubeHealth, to improve the employee well-being of 10 million Indians by 2025 through application of targeted wellness programs, personalised care and a seamless insurance experience. With our help, employee-first companies can drive employee happiness and retention."