Group Medical Insurance
Advantages of Having Group Medical Insurance Dubai
The workforce that is healthy and contented will certainly become productive. That is why employers were directed to implement Medical Insurance Dubai for their workers. In fact, more than 60 percent of employees in the United Arab Emirates are convinced health programs lead to loyalty to the company. Coverage must be compliant with policies of the Dubai Health Authority (DHA).
In general terms, group medical insurance plans to insurance coverage that provides healthcare programs to a particular group. The plan is standardized and offers uniform benefits to the policy holders. Coverage is less expensive for all participants compared to individual policies. The main reason is the risk is spread throughout the group and not only one person. Cost of premium carried by the insurer is totally deductible. Benefits received are free from any tax.
Employers who provide Group Medical Insurance Dubai are rewarded with the following benefits:
- These companies stay competitive for a longer time. Workers prefer to work for corporations that offer the highest compensation as well as fringe benefits that include insurance.
- Healthy workers are capable of becoming more fruitful because there are fewer sick leaves. Group coverage builds a wholesome environment characterized by wellness and prevention.
- Group Medical Insurance Plans are more economical. Business owners reduce premiums so their employees are not burdened by exorbitant fees.
Workers are advised to avail of medical insurance mainly because this gives them better access to healthcare. This, of course, includes preventive approaches that help avert more acute diseases in the long-term.
The cost is manageable and guarantees financial wellbeing. There is lesser worry in case of sever ailments and injuries because group Medical Insurance Dubai is one way of staying away from large debts. Hospitalization usually happens without warning. Expenses normally go above what people expect or can afford to pay.
How much does this kind of plan normally cost?
The Dubai Health Authority implemented the Essential benefits Plan or EBP specifically for workers receiving monthly compensation of 4, 000 UAE Dirham and below. This is the most inexpensive group medical insurance dubai which is roughly starts with AED 550 UAE Dirham for each employee. However, benefits are also limited such as hospital visits are permitted only for emergency cases that call for hospital treatment and confinement.
Workers with higher wages pay more than what the basic plan costs. More expensive plans enable policy holders to choose from 200 up to 500 clinics or hospitals along more complete medical benefits. There are usually three categories and different benefits for workers which are called A, B and C. The medical insurance plans in the United States and Europe are more costly.
The residence of an employee is another consideration for those looking at layered plans. The network of clinics or hospitals likewise affects the premium significantly. One drawback is the policy holder does not have the liberty to choose facilities when it comes to medical insurance dubai.