Why Is Health Insurance a Necessity for Everyone

Why Is Health Insurance a Necessity for Everyone?

With health insurance becoming mandatory in the UAE, people who do not have health insurance

will be obligated to get themselves a suitable health insurance plan. Employers need to provide basic

health insurance cover to all their employees, and failure to do so make them liable for a penalty

ranging from AED 500 to AED 150,000. The aim of this programme is to create a vigorous health

system that is sustainable and brings in more health care investment in UAE. With health insurance

becoming a compulsion, people might weigh the benefits of different health insurance plans. This

article highlights why health insurance is a necessity for everyone:

1. Provides cover in the time of need:

Unlike the notion most people have that health insurance is only for those who are old or

sick, health insurance is relevant for everyone even though they might be in good health.

Human life is quite unpredictable and one might face a medical emergency or meet with an

accident. In such a critical time, it may not always be possible for an individual to be

financially ready, and having a good health insurance plan can provide you the financial aid

when it is needed the most.

2. Sense of security:

Having a health insurance plan provides the insured a sense of security and offers support

during any unforeseen circumstances. People who are insured are less worried about

finances as compared to those who do not have a health insurance plan, as they are

confident that in case of an emergency, there won’t be any financial hindrances during the

treatment.

3. Cashless facility:

There are many health insurance plans that provide cashless facility to the insured. In such

plans, the health insurance company settles the medical bills directly on behalf of the

insured with the help of a third party administrator. Cashless facility can be availed at any

provider that is listed under the medical network of the health insurance...