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March 07, 2018

6 Key Points To Compare Health Insurance Plans In The UAE

Important points to compare Health Insurance plans in the UAE

It is important to compare different health insurance plans for right coverage & its benefits. Follow these 6 steps to choose the best plan for your family.

Before looking for a product of any kind, we tend to use resources, mainly online, to find out which product suits to our requirement. The comparison will mainly be based on the functionality, durability, quality, aesthetics, service options, customer care and pricing. When it comes to insurance, mainly health insurance, it is important to compare the table of benefits, exclusions and price. With many insurance companies in the UAE offering various health products and plans, identifying the most suitable plan is a difficult task.

When it comes to medical benefits, the biggest quandary faced by an individual is the factors that are to be considered before choosing a policy. Aside from the budget, the next step is to compare different health/medical insurance plans that provide the right coverage and benefits for your needs. Given below are the basic insurance plans available:

Domestic Workers Dependents Spouse (female) Elderly
AED 650 AED 650 AED 1,750 AED 2,500
Salary: AED 4,000 or less Domestic worker jobs include:
  • 1.Cooks
  • 2.Drivers
  • 3.Etc.
Must be an unemployed member of the family, for example:
  • 1.Kids
  • 2.Female spouse between ages 45-65
  • 3.Male spouse under 65
Unemployed female spouse from ages 18 up to 45 years old Unemployed parent and parent-in-law above the age of 65

Below are a few important factors that can be considered for choosing a health insurance plan:

Pre-existing conditions

Any conditions that exist before or at the time of taking a health insurance policy are termed as pre-existing. This has an impact on the overall policy premium. While certain insurance companies provide 100% coverage for pre-existing conditions for higher premium depending on the nature of that condition, most other insurance companies only provide coverage after a predefined duration; for example, coverage may begin 6 months after buying the policy.

Hospital network

Insurance companies have network hospitals around the country in which it exists. It is at the discretion of the insurance company to decide on the number of hospital networks and their grade.

It is vital to check the list of hospitals and clinics under an insurance company’s medical network. It is advisable to choose a health insurance plan depending on the insurance company’s network of major hospitals. You might require medical treatment at any time and it is vital that your insurance covers multi specialty hospitals. It should be noted that treatment within a network hospital is generally cashless (direct billing) while treatment outside the network is on a reimbursement basis. It is recommended to choose an insurance company who provides coverage for all major networks in the country and also on cashless basis to avoid paperwork hassles for reimbursement.

Deductibles and co-payments

Deductibles are fixed charges that you need to pay out of your own pockets when undergoing a treatment. Also known as co-payment or co-insurance, there are a few types of them:

Fixed amount per visit:

Under this type of deductible, you need to pay a fixed amount, which ranges anywhere from AED 20 to AED 75 for every visit to the doctor. This type of deductible is usually applicable for outpatient treatments only, which is defined as any treatment that does not require the patient to be hospitalized for more than 24 hours.

Co-payments:

As mentioned above, here you have to pay a certain percentage of the overall treatment cost.

Annual deductible:

You are required to pay an amount as deductible annually. Say, AED 1,000/- will be charged for all your treatments annually. Any charges above this will be paid by the insurance company.

It is better to choose an insurance company who provide lower deductible and cashless benefits.

Exclusions:

Apart from the above, there is yet another major factor to determine an insurance company and that is the exclusions. Always get to know the exclusions listed in the quotation. Although benefits in a policy may be generous, an important exclusion might make that policy a total squander. Always go for a policy with lesser exclusion list.

For choosing a best suitable plan for you, talk to us @ 800-GARGASH to help you choose.

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