When it comes to health insurance, you have to draw the line on what you can compromise on. Price is an important factor to consider when you buy health insurance, but cheap can be expensive in the long run. Remember, health insurance is supposed to protect you from worrying about your finances when a health emergency arises. We have compiled a list of some of the things to look out for when buying health insurance.
Waiting Period
Waiting periods deter you from making a claim shortly after signing on to a health plan. They also prevent you from claiming on pre-existent diseases, so check the company’s policy on that before signing. Maternity and dental treatments are some of the benefits that have waiting periods, but it varies from one company to another, so reach out to experts for more advice on this.
Hospital network
If you travel a lot or have family members living in different parts of the country, you should be very keen on this. Just because an insurance plan covers the UAE, it does not mean that you can access all hospitals in the country. Ensure that the hospitals nearest to you are in the company’s medical network to avoid any inconveniences. If you travel for work or have family members in other towns, check on the same.
Deductibles
Also known as co-payment, deductibles are fixed rates that you, the policyholder, have to pay when undergoing treatment. There are various types of deductibles: fixed amount per visit and annual deductibles. Fixed amount per visit is applied in outpatient treatments only, and you are required to pay 20 to 75 AED depending on the insurance company. Annual deductibles are not common in the UAE, but make sure to ask your insurance provider about it.
Exclusions
Health insurance companies do not cover all treatments in order to protect themselves from high-risk conditions. Review the policy carefully or consult one of our experts for more information on what is excluded and covered under the health insurance plan before buying, especially if you suffer from a chronic disease.