FIve Tips To Control Your Company Health Insurance Premium In Dubai
The cost of insurance across the globe is rising. For many Dubai-based businesses and individuals who are prescribed by law to come under insurance, this means finding ways to prevent them UAE health insurance premiums from going up.
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How to Control your Company Health Insurance Premium in Dubai
Below are 5 easy ways to prevent your insurance premium from increasing while at the same time, making sure you have adequate medical cover for any unforeseen health situation or emergency.
1. Know your Cover
It is very difficult to find the best health insurance policies in the gulf country of UAE and so you need to be very cautious and careful at the time of paying regarding the medical services which you may just need as per your preference.
If you think that your health insurance plan includes cover for unnecessary medical issues, you could remove these to prevent the cost of your insurance policy premiums increasing.
You should also check the geographical coverage of your health insurance policy. For example, in Dubai, the best family health insurance will cover you for the major hospitals and medical services near to your home. Well, you also have the best chance of decreasing your different insurance premium through the checking while making sure of the medical channels, which are being generally offered which just suit your complete needs as such.
2. The Best Medicine is Prevention
Possibly the most fundamental way to keep your health and medical insurance premium from increasing is to take good care of your health. Health insurance companies are best known for taking on the health risks which are being associated through different kinds of lifestyle choices, which are being considered at the time of calculating different kinds of insurance premium also,
In 2013, the journal Global Health Action published information on the general health status of UAE residents. It found that cardiovascular disease accounts for 25% of all deaths in the Emirates. The study also said that, although cancer rates are still lower than in Western countries, the number of people suffering from cancer is set to double by 2020. This is in addition to increases in cases of diabetes, high cholesterol levels, and obesity, all of which will have an impact on insurance premiums.
3. Increase Your Deductible
Opting to increase your deductible is one of the easiest ways to avoid paying higher insurance premiums on your health policy. There are various kinds of medical insurance companies in the UAE and they are meant for dividing their insurance policies in various premium and these are just very deductible too. If you are willing to pay a higher deductible you will be able to prevent larger increases in your health insurance premium next year.
You could also look at the co-payment level in your health insurance policy. This is the percentage of the final medical bill that you have to pay yourself. Obviously, the higher percentage of the medical services you are willing to pay, the lower your premium will be.
However, always weigh up the risks of lowering your premiums with high deductibles and higher co-payments according to your financial and family needs.
4. Compare Health Plans
To find the best and cheapest health insurance premiums, you should always compare medical insurance. With more than 60 different medical insurance companies in UAE all offering a range of services and medical health plans, comparing health plans could save you money on the cost of your premium.
For example, if you are planning to start a family, there are many companies offering maternity insurance. Make sure that the premium you pay for maternity cover provides coverage for all medications, diagnostic tests, pre and post-natal appointments, and any complications that may arise. For an extra premium, maternity coverage may also include premature deliveries, afterbirth care, and voluntary caesarean birth.
5. Regularly Assess your Health Needs
As you get older and your health needs change or your family situation changes, you may have to change the amount of medical cover you require. One way to prevent increases in your medical insurance premiums is to make sure that your current insurance policy represents your current health needs.
While it may not be possible to foresee and plan for all of your medical needs, adequate health insurance allows you to take some of the worry and stress out of any health-related situation.
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