The best ways to find the right health insurance plan

Health insurance is one of the most important components of your daily life.

Health insurance offers a cover for your health by taking care of any medical expenses that may arise due to an illness ensuring that you do not end up draining all your savings in the hospital in case of an illness. These expenses include pre and post-hospitalization expenses as well. Having the right health insurance plan not only covers your health but also reduces your stress and anxiety since you will not be bothered about your finances while receiving treatment for illness. However, when it comes to purchasing a health insurance plan, it is crucial that you select the plan that suits your needs. With the right health insurance not only do you purchase health cover but also receive mental peace. Here are some tips that will help you in selecting the right health insurance plan:

right health insurance plan

1. Compare health insurance plans

If you are buying health insurance in UAE, you should know your options. Numbers of health insurance plans are available in UAE and it might be useful to compare various health insurance plans before deciding which one is the most suitable for you. You can conduct online research and compare benefits, premiums, and coverage offered on each health insurance plan to make an informed decision.

2. Policy coverage

The moment you think about purchasing a medical insurance plan in UAE, the first thing you should consider is the policy coverage i.e. “what does your policy cover?” Generally, health insurance plans entail coverage for medical treatment, pre, and post-hospitalization expenses, transportation, and other expenses but you need to explore the details of the plans. Check the illnesses covered by the health insurance plans. Besides, also consider additional benefits offered by insurance providers such as:

  • Critical Illness cover
  • Home hospitalization cover
  • Daycare procedure cover
  • Cover for Psychiatric Illness
  • Cover for organ donor expense
  • Domiciliary Care cover
  • Cover for surgeries

Also, check the illnesses covered under your policy before selecting the policy.

3. Family plan or individual plan

Before you make any further decisions about your health insurance in UAE, it is necessary that assess your needs for health insurance. If you are taking care of the finances of your family, you need to consider if a family plan is more suitable for you. While an individual health insurance plan is beneficial if you are alone, it might be more beneficial to consider a family plan if you are a family person since the family plan will cover the medical expense of all your family members. This gives you the freedom to provide your family members with the best treatment without worrying about money.

4. Hospital networks

One of the most notable benefits of a health insurance plan is cashless treatment. Health insurance providers in UAE partner with hospitals in the region to offer cashless treatment to the patients which mean that when you get admitted to these hospitals, you will not require paying any money to the hospital. If your treatment is pre-planned, just inform your insurance provider and they will approve cashless treatment for the hospital, This benefit allows you to receive medical attention or get that expensive surgery done without shelling a Dirham from your pocket. Before narrowing down to an insurance provider, check the list of cashless network hospitals to receive maximum benefits.

5. Flexibility of coverage

Numerous health insurance plans in UAE allow you to increase the sum insured over time ensuring that your health insurance plan meets the inflation. Besides, when you renew your policy, you receive no claim bonus which adds to the insured sum every year. Check if the health insurance plan you are considering offers flexibility and increases the insured sum on health.

6. Pre-existing disease waiting period

When you purchase a health insurance plan, the health insurance provider checks your medical history, your family’s medical history, and your current health. In case you are detected with any illness, the health insurance provider offers health insurance at a higher premium. However, this allows you to receive medical treatment at a lower cost. To avail of treatment on your pre-existing disease, you may need to wait for two to four years. This is called the waiting period. Check the waiting period on a health insurance plan before purchasing it.

7. Income, premium, and cover

While seeking the right health insurance plan, you are advised to consider your income to determine which health insurance plan will fit into your budget. Usually, as the insured sum and facilities on health insurance increase, the annual premium on health insurance increases too. Therefore, to find the right health insurance you should check your income and consider what is the sum insured you require so that the premium is well within your reach.

8. Claim settlement ratio

Financially speaking, the only thing more important than purchasing health insurance is the after-sale service on your insurance. Once you have ticked all the boxes and shortlist a few health insurance plans, it is time to run a background check on each provider to determine which company has the highest customer satisfaction and claim settlement ratio. This will allow you to learn about the customers’ experience with a certain health insurance provider and make an informed decision about which health insurance provider will serve you better.

Assess your needs, understand the health insurance plans, and select the right health insurance plan.