Health insurance is a crucial aspect of life in Dubai. In a country like UAE where healthcare costs are high, it is essential to have health insurance coverage to protect yourself and your family. However, understanding the various terms and jargon used in health insurance policies can be overwhelming for anyone who is not familiar with the industry. This article is an overview of health insurance in the UAE and provides a list of common health insurance terms that you need to know.
Health Insurance in Dubai
Health insurance in Dubai is a mandatory requirement to obtain visa for individuals and their dependents.
Health insurance is a type of insurance policy that provides coverage for medical expenses incurred due to illness or injury. The policy covers the cost of medical treatment, hospitalization, medication, and other related expenses. Two types of policies are available for health insurance in Dubai – individual and group health insurance.
- Individual Health Insurance: This type of health insurance policy provides coverage for an individual and their dependents. The policyholder pays a premium to the insurance company in exchange for coverage. The policy can be customized to suit the individual’s needs and budget.
- Group Health Insurance: This type of health insurance policy provides coverage for a group of people, such as the employees of a company. The policy is purchased by the employer and covers all eligible employees. The premium is usually shared between the employer and the employee.
- Family Health Insurance: This is a type of health insurance where two or more people from the same family get covered in a single plan. The coverage provided by such a plan can be of immense hep even if multiple members of the family are hospitalized at the same time.
- Insurance For Domestic Workers: This type of health insurance covers domestic help such as maids, drives and nannies if they have a gross monthly salary of less than AED 4000. This policy is a mandatory requirement for Abu Dhabi and Dubai visa holders.
Insurance Brokers- their role in helping you navigate the insurance sector in UAE
Insurance brokers are licensed professionals who act as intermediaries between insurance companies and customers. They help customers find the right insurance policy that meets their needs and budget. Insurance brokers in UAE work with various insurance companies and have access to a wide range of insurance policies.
Insurance brokers can help you navigate the complex world of health insurance in Dubai, or elsewhere in the UAE. They can provide you with unbiased advice and help you compare different policies to find the one that suits you best. Insurance brokers can also help you with the claims process and ensure that you receive the maximum benefits from your policy.
Common Health Insurance Terms
Now that we have covered the basics of health insurance let’s take a look at some of the common terms used in health insurance policies in the UAE.
Premium: The amount of money paid to the insurance company for coverage. The premium for a health insurance policy can be paid monthly, quarterly, or annually.
Deductible: The amount of money that the policyholder must pay before the insurance company starts paying for medical expenses.
Co-payment: The amount of money that the policyholder must pay for each medical service or treatment. The co-payment is usually a fixed amount or a percentage of the total cost.
Direct Billing: The maximum amount of money that the policyholder must pay for medical expenses in a policy year. Once the out-of-pocket maximum is reached, the insurance company pays for all medical expenses.
Reimbursement: Reimbursement in insurance refers to the payment made by an insurance company to the policyholder or healthcare provider for covered services or expenses. The reimbursement amount is usually based on the insurance policy terms and any applicable deductibles, co-payments, or co-insurance amounts.
Network: A group of healthcare providers, hospitals, and clinics that have agreed to provide medical services to policyholders at a discounted rate.
Pre-existing condition: The policyholder’s medical condition before purchasing the health insurance policy. Some policies may not cover pre-existing conditions or may have a waiting period before coverage begins.
Waiting period: The amount of time that the policyholder must wait before coverage begins for certain medical conditions or treatments.
Exclusions: Medical conditions or treatments that are not covered by the health insurance policy. It is essential to read the policy carefully to understand the exclusions and limitations of the policy.
Renewal: The process of extending the health insurance policy beyond the initial coverage period. The policyholder must pay the premium to continue coverage.
Grace period: The amount of time after the premium due date during which the policyholder can still pay the premium without losing coverage.
DHA: DHA (Dubai Health Authority) is the regulatory body responsible for overseeing the healthcare sector in Dubai, United Arab Emirates. It manages healthcare facilities, sets healthcare policies and regulations, and ensures the provision of high-quality healthcare services to the population.
DOH: DOH (Department of Health) is a government agency responsible for overseeing the healthcare sector in the UAE. It sets healthcare policies, ensures the safety and quality of healthcare services, and provides resources and support to healthcare providers and patients.
EBP: EBP (Essential Benefits Plan) is a healthcare insurance plan mandated by the government in some countries, including the United Arab Emirates. It aims to provide affordable access to basic healthcare services to all residents, regardless of their income or health status. The plan covers essential healthcare services, such as consultations, diagnostic tests, and medication, among others.
Conclusion
Understanding the various terms used in health insurance policies in the UAE is essential to make informed decisions about your healthcare coverage. It is important to read the policy carefully and ask questions to clarify any doubts. Insurance brokers in the UAE can help you find the right health insurance policy that meets your needs and budget. By knowing the common health insurance terms, you can make the most of your health insurance coverage and protect yourself and your family from unexpected medical expenses.