For many of us, health insurance plans in the UAE are just too expensive. With the new Dubai Health Insurance Law, some companies will begin offering cheap health insurance packages, but these come with minimal benefits. There are a few things you can do to find an affordable plan with reasonable benefits. Do not get too carried away with believing that you will save money with a cheap health insurance plan, because when the time comes to make a claim, you will likely have to pay more out of your pocket for the treatment.
Increase your deductible
The deductible refers to how much you will pay from your own pocket for each visit to a doctor. For example, an AED 50 deductible means that you will pay this amount, with the health insurance company covering the rest. In general, the higher the deductible, the lower the health insurance premium. According to bayzat, for a 30-year-old male, the cost of coverage decreases by 3% if you have a plan with an AED 50 deductible compared to a plan with no deductible (all other benefits being equal).
Look for fewer benefits
Cut out any benefits that you will rarely use. For example, if the plan comes with coverage for a psychiatrist, and you do not foresee yourself using such services, then you are likely to find a cheaper plan that excludes this benefit. More significantly, preexisting conditions are very costly to have under your health insurance plan, and the benefit provided by the majority of companies is very limited, which means you end up paying a large percentage out of your own pocket anyways.
Countries of cover can increase the cost
Adding coverage in the United States to your health insurance plan can double the cost! Purchasing travel insurance every time you visit the country might be a more cost-friendly option.
Shop for the best health insurance plan
Fortunately, bayzat provides the only platform in the UAE to compare health insurance plans in real-time to find the right balance between price and benefits. In addition to being able to compare health insurance prices, you can search for plans by benefit, country of cover, and specific hospitals and clinics. When it comes to your health, it is important that you make an informed decision, so make sure you take your time researching.