Dubai: UAE residents have not seen a significant hike in their medical insurance premiums as most insurers decided to keep rates constant for the 2022 renewals. But there is a catch here.
Premium rates are steady for those who did not generate higher claims from consultations on outpatient treatments during 2021. Those who did generate higher bills, for whatever medical condition they had, are having to contend with much higher premiums if they want a renewal. (At the start of 2021, medical premiums had more or less remained unchanged because of much lower utilisation rates in 2020 due to the COVID-19 situation.)
Rack up higher claims – and you will have to look at higher payout down the line, whether it is on motor or medical. According to Vikas Katoch, Chief Operating Officer at Right Health, one of the biggest operators of clinics and other facilities in Dubai, “Premium increases seen in the recent past at some insurers are primarily due to health-related factors such as age, risk, claims history, etc.
“Generally, there has not been any marked rise in insurance premium for Dubai’s basic plan – the Essential Benefits Plan. If at all there has been an increase, it was subject to enhanced benefits added to the policy.”…ReadMore…