Online Platforms in the UAE are Providing Access to Expert Health Insurance Advice
Posted On March 16, 2014
With health insurance now mandatory under the new Dubai Health Insurance Law (ISAHD), bayzat.com is helping make the process of securing the ideal policy quick and convenient with a simple, real-time comparison platform.
“The sheer volume of options for health insurance in Dubai can be overwhelming, especially for first-time buyers,” said Talal Bayaa, Co-founder and CEO of bayzat. “Through our partnership with a leading UAE insurance brokerage, bayzat has simplified the process of finding the right policy for you by providing a comprehensive selection of what’s available, at the most attractive rates. This makes it far easier for our users to not only find the ideal coverage options for their needs, but to compare plans and make an informed decision.”
There are many aspects of insurance policies that the average person may not pay attention to, or struggle to understand. For example, there are usually waiting periods before a policyholder is eligible for certain benefits. These include pre-existing conditions or maternity benefits – for the latter, customers may be required to have been insured with the same plan for 12 months before being eligible for maternity coverage.
Insurance providers, for the most part, will cover treatments that are carried out in a hospital or clinic outside of the network plan, reimbursing a percentage of the cost as stated by the policy. What policyholders tend not to realize however, is that the reimbursement is based on the cost of the procedure if it was carried out in a hospital or clinic that is part of the provider’s network. For example, the policyholder may pay AED1,000 for a procedure in the hospital of their choice, whereas the same procedure would cost AED 800 in the provider’s network. The policyholder is then only eligible to be reimbursed a percentage of AED 800.
“Coverage also tends to be limited, and sometimes by unexpected circumstances – including sports and natural disasters,” said Talal. “It’s important to be fully aware of the limitations of your policy. Customers should also know that statements made to insurance providers can be held against them – this is where having a broker handling claims in your stead can prove especially beneficial.”
In terms of company insurance, pricing for renewal is based on the claims that the employees make throughout the year. A company can reduce its overall health insurance by choosing more cost-effective medical providers for frequent, less serious illnesses, such as the common cold, creating savings all around.
There are myriad benefits to purchasing insurance through a broker. In addition to having the support of a professional team to guide customers through the insurance process from start to finish, a broker is able to propose schemes and will monitor claims on a regular basis.
Beyond offering insight into the intricacies of health insurance policies, bayzat’s insurance comparison platform is very user-friendly and easy to use. Visitors can search for plans based on specific benefits, coverage in other countries, or even by selecting which hospital or clinic they want included in their medical network. What makes the process even simpler is the fact that you can ask the bayzat team questions about insurance, and have an expert from a regulated insurance broker contact you to help throughout the entire process.
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