Following the implementation of the new system, the United Arab Emirates (UAE) announced a rise in health insurance premiums.
After the announcement of a new required program, health insurance premiums in the UAE are expected to go up.
There is a possibility that residents who are responsible for the expense of family health premiums will experience changes in payment systems.
It is anticipated that health insurance premiums in the United Arab Emirates will increase as a result of an increase in demand that was brought about by the implementation of a new required plan that was announced on March 18. As part of this program, employers are required to offer insurance coverage to their staff members.
According to executives in the industry, insurers will need to adjust their products and services in order to guarantee that pricing will continue to be equitable and balanced.
By the beginning of the year 2025, all businesses in the United Arab Emirates are required to provide and pay for the health insurance of their employees, including domestic workers. During the process of awarding or renewing resident permits, employers will be required to pay for the health insurance coverage of their employees.
The UAE announces an increase in health insurance premiums for citizens and expatriates.
The United Arab Emirates (UAE) has announced an increase in health insurance premiums for both its nationals and its foreign residents.
"Given the inevitable rise in demand for healthcare services following the scheme's introduction and considering normal economic factors like inflation and healthcare advancements, a steady increase in premiums is anticipated," said Avinash Babur, the chief executive officer of Insurancemarket.ae.
"It is incumbent upon insurers to implement a controlled approach to premium adjustments, ensuring that these changes are gradual and communicated transparently to avoid sudden financial strain on both employers and individuals," added Babur in his statement.
The creator and chief executive officer of eSanad, Anas Mistareehi, stated that the new healthcare scheme is going to result in a huge increase in the premiums that people pay for their health insurance.
"There is a strong indication that health insurance premiums in the UAE will experience significant growth in 2024 and 2025," according to the economist.
