It is not uncommon for families in the UAE to lack health insurance. Many employers offer coverage only for their employees – not their families. In addition, while some may offer the option of purchasing additional insurance for the families, many do not. With that in mind, many people feel like they have no choice except trying to locate affordable health care options.
That doesn’t have to be the case, however. Whenever employers do not offer health insurance for family members as well for those who are self-employed or freelancers based in the UAE, they always should explore the many options that are available for purchasing individual health insurance.
By doing so, they can have the peace of mind that comes with having an insurance plan. But they take the responsibility for doing the legwork in terms of shopping for a policy that fits their finances and needs. If you’re in this situation, you will need to look into several insurance providers, check what they offer and be open to compare policies and come up with your own conclusion – even if it is different from what is being pushed by salespeople.
Here are a few points to keep in mind in this process:
Your needs
In shopping for health coverage, your needs make one of the biggest determining factors. Are you young and healthy? Do you have chronic conditions that require prescription drugs, checkups, exams, etc.? Do you have children who are likely to require periodical office visits?
Although you may expect the salesperson to ask these questions and provide you with the most appropriate policy options that meet your needs, you also should review these options yourself. For example, if you know that you will frequently be making office visits, you probably need to check your copay for these. Meanwhile, if you’re a lucky person who hardly needs medical attention, a high deductible and lower premium may be a good, cost-effective option for you.
Your finances
What’s your biggest fear? Being sick and going bankrupt. If you don’t have savings that can pay for an emergency, seeking a high deductible to save on the monthly premium may not be a good option. Although the low premium may be attractive, you need to make sure that in case of an emergency, your coverage will be sufficient without pushing you into indebtedness. Similarly, think of the maximum coverage your policy offers in the context of medical costs. Although DH100,000 may be a big number in itself, it may not be the same if you’re think of paying for an unfortunate accident, surgery, etc.
Your lifestyle
There are often many additions to insurance policies that may increase the costs drastically, while you may not even need them. Does your policy offer international coverage? This may not be necessary if you hardly travel anywhere. In fact, even in the events of traveling, you may supplement your coverage temporarily. Similarly, if your coverage includes all sorts of additions – like maternity, acupuncture, physical therapy, etc. – that you think you don’t and won’t need, ask for how much removing these can help you reduce the costs. Don’t overlook small discounts here and there, these typically can add up to a good amount if you consider the annual cost, at least.
Alternatives
Although insurance seems to be the best option. In many cases, individual packages can be so expensive that they become prohibitive. If you do a thorough research and you don’t find a policy that fully meets your needs and finances, your alternative may be to search for local affordable healthcare options. Government-run hospitals offer relatively affordable healthcare to UAE residents. However, it may be wise to check their requirements ahead of landing there with an emergency.
Rania Oteify, a former Gulf News Business Features Editor, is a Seattle-based editor.
