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Industry executives say not only have they received inquiries from companies, but some have begun to insure employees
Health Insurance, Golden Visa, UAE, Abu Dhabi,
Compulsory health insurance in the Northern Emirates is expected to be rolled out in the first quarter of 2023.
Industry executives said not only have they received inquiries from companies, but some companies have begun to insure employees.
Hitesh Motwani, Chief Marketing Officer, InsuranceMarket, said: “As of now, mandatory health insurance is expected to be rolled out by the end of the first quarter of 2023. We have been receiving inquiries and have actually covered many groups from the northern emirates.” ae .
Currently, health insurance is mandatory in Abu Dhabi and Dubai.
In Abu Dhabi, employers and sponsors are responsible for providing health insurance for their employees and their families. In Dubai, employers are required to provide health insurance for their employees. Guarantors must purchase insurance for their resident dependents.
Echoing comments from his industry peers, Toshita Chauhan, Head of Health and Motor Insurance Business Unit at Policybazaar in the UAE, confirmed that they have also received inquiries from the Northern UAE, which will start to increase concerns once the authorities announce an implementation date.
Chauhan added that no specific date has been announced yet, but health insurance could soon become a reality in the northern emirate in the first quarter of 2023. “The competent authorities are working hard to develop a comprehensive plan to make it a reality in the first quarter,” he added.
Premium
Chauhan said health insurance plans are expected to start at Dh650 and go up to Dh3,000 per member depending on the level of coverage chosen.
Hitesh Motwani added that insurance premiums can range widely depending on the type of coverage.
“As of now, Northern Emirates plans do not have a minimum level of coverage like Dubai or Abu Dhabi plans, which allows insurers to price very aggressively. Premiums for Northern Emirates policies start at AED 400 plus VAT, if the group size is larger Larger, premiums may be lower. For basic coverage.
He suggested that if regulators set requirements for minimum levels of coverage, this could also affect premiums.
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