Things to Look for When You Compare Health Insurance in the UAE

The cost of most health treatments increased worldwide, including in the UAE. For instance, a Coronary Angioplasty package in Dubai costs around AED 40000.

Now, arranging that amount of money in case of any health emergency or long-planned treatments is challenging. Hence, you need a health insurance plan to protect you financially against high hospital bills. Also, most residents of the Emirates must have a basic health insurance plan by the law!

The above plans and premiums are for AED 1,000,000 Sum insured for 1 Adult of 30 Years for Dubai city.

However, choosing the right plan in UAE is not easy, and you must compare health insurance plans before finalising one. Following are some pointers that you need to consider while comparing them!

Waiting period

Most health insurance providers in the UAE offer plans with a waiting period. It means you can claim only after the waiting period is over. The insurer will not bear any cost that arises from the treatment of the above-said conditions.

The waiting period ranges from 2 to 5 years on average. Thus compare health insurance in UAE to get a plan with the lowest waiting period. It is also wiser to opt for a health insurance plan early when you are less likely to have health complications.

Hospital network

Just because you have a health insurance plan does not mean that the coverage is available for all hospitals in the UAE. Therefore, you must check the names of the hospitals under the insurer’s medical network.

You may need medical attention during an emergency, and thus you need to purchase a plan that covers at least some major hospitals in your locality. Usually, the treatments in a network hospital are cashless in the UAE.

The cashless facility is convenient as the insurer has ties with the network hospitals, and therefore, they directly settle bills with them.

Claim process

Before you purchase a health insurance plan in the UAE, make sure you choose one with a simple and prompt claim procedure. You should compare health insurance policies for a short turnaround time and a higher claim settlement ratio. Now, a higher claim settlement ratio projects the efficiency of the insurance provider and how good they are dealing with each claim application.

Similarly, also check if the insurer has a smooth and hassle-free claim process. It will ensure that you and your family remain stress-free in a medical emergency.

Premium

While one of the reasons to compare health insurance quotes is to settle for a plan with the lowest premium, you need to make sure that it does not compromise on the benefits it offers.

Often people opt for a health insurance plan just because it comes with a competitive premium amount. However, they forget to check the exclusions, deductibles and copayments attached to it.

In such cases, they end up paying more from their pocket while making a claim. If you want to avoid such circumstances, you need to choose a plan that is affordable and, at the same time, provides maximum coverage.

Deductibles

Every time you make a claim, you have to pay a fixed amount from your pocket, known as deductibles. Typically, the higher the deductibles, the lower the health insurance premium.

Deductibles have different names in the UAE. For instance, every time you visit a doctor, you have to pay a certain amount before the insurer settles the bill. This type of deductible ranges from AED 20 to AED 75 per visit. Usually, such a deductible is applicable for policyholders who do not need hospitalisation for 24 hours or less.

Co-payment is also a deductible where the policyholder has to pay 10% of the treatment cost to avail of maternity benefits in the UAE. For dental treatment, the co-insurance is 20%.

You need to consider this factor while comparing health insurance plans in UAE and then settle for one that fits your needs.

Pre and hospitalisation benefits

Several health insurance plans come with pre and post-hospitalisation benefits. Various medical expenditures incur before and after the hospitalisation that people often overlook. However, you should compare health insurance plans to settle for one which covers all these expenses, including ambulance charges, medicines, day-care charges, etc.

No Claim Bonus

If you do not file any claim during an entire year or the duration of the policy term, the insurer gives you a No Claim Bonus (NCB). It allows the policyholders to enjoy certain discounts on the premium for the previous claim-free year. Some insurance providers also increase the sum assured through NCB. However, it is entirely at the discretion of the insurer.

So, the ideal thing to do here is to go through the terms of NCB of the policies and then choose what you think to make a more compelling argument.

To sum up, most likely, you would pick the best plan for you if you compare health insurance plans in UAE on these factors. However, you should also check the exclusions and the fine print of a plan before finalising it.