With the Mandatory Medical Insurance Law in place, where all the Dubai Visa Holders are required to purchase HEALTH INSURANCE, some people – especially those who are young or healthy – are questioning why they need coverage at all.
Like Motor insurance, Health insurance is a service you pay for but hope you will never need. It’s there for the unpredictable, unforeseen and primarily uncontrollable problems that come up in people’s lives.
Most consumers want and value health insurance, but they can’t afford the coverage or have been shut out from the market previously because they have pre-existing medical conditions. However now with the current scenario as per the regulators, insurance cover cannot be denied for any person irrespective of age, ongoing medical conditions etc.
Consider these factors when deciding whether to buy health insurance. Without coverage:
YOU MAY NEED TO PAY A PENALTY: –
UAE residents holding Dubai Visa should be taking Insurance before 31st March 2017 as per the latest news from regulators, failing which a penalty of AED 500 is applicable per person per month.
YOU RISK FINANCIAL RUIN: –
You may be healthy now, but the onset of a sudden or serious illness (Cancer, diabetes, appendicitis) or a traumatic event can leave you with staggering medical bills. The inability to pay high medical bills, one of the most common reasons people become bankrupted, can ruin your credit history and set you back for years.
YOU WON’T HAVE ACCESS TO PREVENTIVE CARE AND PRIMARY CARE: –
The law requires insurers to cover preventive care as below to be covered: –
- Essential vaccinations and inoculations for newborns and children as stipulated by DHA
- Diabetes screening: Every 3 years from age 30
- High risk individuals annually from age 18
That means you’re more likely to stay healthy and catch health problems early, when they’re easier and less expensive to treat. Policies also must provide a minimum standard of care known as essential health benefits in different aspects: – preventive and wellness services, ambulatory (outpatient) care services, emergency care, hospitalization, maternity and newborn care, pediatric care, mental health and prescribed medicines.
Asst. Vice president,