Busting Common Myths About Individual Health Insurance

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Health insurance is not something alien anymore. Many people are already aware of the basics; they have their insurance plans in place and re-evaluate their insurance needs timely. However, just like with any multi-layered topic, several myths surround health insurance, especially individual health insurance plans. Even when there are several information sources available for the general public to access, misconceptions can still form and cloud the judgment. Today, we are going to discuss a few of the very common misconceptions and myths that surround individual health insurance plans and bust them along the way.

Young, Healthy People Do Not Need Health Insurance

The most common myth is that young, healthy people would not need their individual health insurance plans. The truth cannot be further away from this, though. The whole point of individual health insurance plans to exist is to help you in an unforeseen medical emergency. And the thing about emergencies is that they can occur unexpectedly. Moreover, health insurance plans are not just about big hospitalization-level medical services. Preventive care is also included as a part of individual health insurance plans now. On top of that, individual health insurance plans get more expensive as you get older. So, it is best to buy your individual health insurance plan when you are young, even if you are completely healthy.

Individual Health Insurance Always Costs More Than Family Insurance

Often a widely believed misconception, individual health insurance plans do not always cost more than plans like family health insurance. Family health insurance is definitely something that can save you a lot of money if you have a series of young dependents to support. However, there are situations where it is more cost-effective to have an individual health insurance plan. For example, if you are supporting your elderly parents as well as children and spouse, your best bet is to get your parents individual health insurance plans. You will be able to get better benefits coverage and save money on the premium as well.

You Won’t Need Individual Health Insurance with Group Insurance

Abu Dhabi and Dubai employers are required by law to provide their employees with mandatory health insurance. But just because you have group health insurance from your employer doesn’t mean that you won’t need your personal individual health insurance plan. The reason for this is that many employer-sponsored plans are not very comprehensive. This means that your group insurance plan may not cover all the important services or have enough assured sum limit. So, it is best to evaluate the plan and get an individual health insurance plan if necessary.

24-hour Hospitalisation is Required to Avail Insurance Benefits

Many people assume that health insurance benefits only kick in when you have been hospitalized for at least 24 hours. However, this is quite untrue. Given the fact that many medical procedures last less than 24 hours, individual health insurance plans and other variants provide daycare benefits as well. Daycare benefits cover procedures like cataract surgery and other small surgeries that do not require you to stay hospitalized for hours or days.

You Can Get an Immediate Surgery Covered with a New Individual Health Insurance

Taking out an individual health insurance plan just to have a particular surgery covered does not work out as well as it sounds. If you are aware of the upcoming surgery and the condition that requires it, it becomes a pre-existing condition. Even though pre-existing conditions are covered by health insurance in the UAE, the cover begins after a waiting period. The waiting period can be anywhere between 6 months to 2 years.

Individual Health Insurance Won’t Cover Pregnancy

Not all health insurance plans offer maternity and pregnancy cover as a basic benefit. However, every individual health insurance plan can be combined with a maternity add-on. Several more comprehensive individual health insurance plans even come with maternity cover as a basic benefit. So, depending on the requirement you have, you can either choose to have a comprehensive individual health insurance plan with built-in maternity/pregnancy cover or get an add-on later.

Smokers Cannot Get Individual Health Insurance

Smoking is an unhealthy habit for sure. However, this does not mean that people with smoking as a part of their lifestyle cannot get their individual health insurance plans. The only catch here is that individual health insurance is going to cost you a bit more if you smoke. Smokers are considered to be a high health risk; hence, insurance companies charge more premiums from them. But you can get any individual health insurance in the UAE that you need even if you smoke.

You Cannot Have More Than One Individual Health Insurance Plan

There is no such limit imposed on how many individual health insurance plans you can have for yourself. The only thing is that you will have to arrange them properly if you have more than one health insurance plan. One plan becomes your primary, the other becomes secondary and if there is a third, it becomes the tertiary plan. In the event of a claim, your primary health insurance covers the expenses up to the assured sum limit, then steps in the secondary and then the tertiary.

There is No Need to Declare My Pre-Existing Conditions

Even if it is compulsory in the UAE for health insurance providers to offer pre-existing condition cover, you are required to declare your conditions when you buy health insurance. Health insurance in the UAE or in general, for that matter, cost a bit more if you have a pre-existing condition. That is why many policyholders choose not to reveal their pre-existing illnesses. But if you happen to need some treatment because of a pre-existing illness that has not been declared to the insurance company, it will not be covered by insurance. So, you always need to declare all your pre-existing conditions to the insurance provider.

Network Hospital List Needs to Bigger

The bigger, the better is not a phrase that is best suited when it comes to network hospitals of your individual health insurance plan. Instead, you need to make sure that the hospitals and medical facilities added to your individual health insurance network list are of top quality. “Quality over quantity” is something you should be considering when it comes to the network list.

In a Nutshell

Health insurance is a complex topic and it is natural to come across some myths and some facts along the way. The best measure here is to make sure that you bust out as many myths as possible before buying your individual health insurance plan and keep learning the rest later. Read the policy wordings properly when you buy your health insurance and make sure that you are clear on all terms and conditions. With a little self-led research and advice from our financial experts, you can easily learn all you need to know about health insurance in the UAE and will be able to buy the best plan as per your needs.