The UAE health insurance market is presently witnessing strong growth. Health insurance is a crucial part of the healthcare infrastructure and helps in covering the cost of medical and surgical expenses of the policyholder. The insurance company pays for the treatment of the patients in advance or indirectly through reimbursements, depending upon the pre-decided terms and conditions. Health insurance plans can also cover psychiatric care, rehabilitation, therapy, in-patient management, and maternity care.
The UAE health insurance market is primarily driven by the wide-ranging, government-funded policies that are concentrated on providing high standard healthcare facilities to the residents. In Dubai and Abu Dhabi, for instance, the government provides health insurance for all its citizens. Both these cities have also mandated employers to offer health insurance coverage to their employees. Besides this, there has been a rising inward migration, coupled with the increasing per capita expenditure on healthcare services in the UAE, which is driving the uptake of health insurance. Other factors, such as the rising incidences of lifestyle diseases, growing economic diversification and high cost of medical treatment, are further bolstering the growth of the market.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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