Dubai health insurance laws mandate that all businesses must cover the basic healthcare expenses of their employees through insurance coverage. The good news is that there are hundreds of insurance companies providing Employee Group Health Insurance in Dubai. 

However, most businesses primarily consider the premium or the cost of insurance as the deciding factor. They often miss out on other important parameters that can help them optimize their investment in Employee Group Health Insurance in Dubai.

In this blog, our Dubai Employee Health Insurance experts share with you the key things you need to know about getting group health coverage for your workforce.

Let’s begin!

Employee Group Health Insurance in Dubai – Why Does It Matter?

• Compliance with Laws: There are heavy penalties in Dubai for any business not adhering to insurance laws. You can stay in the clear by ensuring that your employees are covered under Employee Group Health Insurance in Dubai.

• Employee Satisfaction: Your employees will experience more peace of mind and will be able to work worry-free when they receive your support in the form of good health insurance coverage. It will also lead to higher job satisfaction and boost the overall productivity of your business.

• Higher Retention: Employee attrition is a serious problem. With healthcare costs increasing every day, you can make your workforce feel more rewarded with a comprehensive health insurance package. This, in turn, will improve your staff retention in the long run.

• Talent Attraction: Health insurance is often a key consideration when professionals look for a new job opportunity. By ensuring a competitive Employee Group Health Insurance plan, you can attract more talent to your business in Dubai.

• Taxation Benefits: With smart tax planning, you can avail of tax deductions based on your investment in the Employee Group Health Insurance in Dubai. This can lead to significant tax savings for your business.

What is the Cheapest Employee Group Health Insurance in Dubai?

For employees earning less than AED 4,000 per month, the Essential Benefits Plan (EBP) by the DHA is the cheapest one available. It usually costs around AED 650 per employee. No matter which insurance company in Dubai you avail it from, the cost and benefits will be the same.

For employees drawing a higher monthly salary, a variation of the EBP is available which has a few more benefits. It costs slightly more (around AED 850 per employee).

What is the Best Employee Group Health Insurance in Dubai?

Over and above the basic health insurance requirements, you can also invest more in your employees’ health coverage to give them more security. Based on your budget and requirements, you can typically get good Employee Group Health Insurance in Dubai for your team by paying anywhere between AED 1,500 to AED 5,500 per employee.

Some companies also opt for the best possible insurance policy for their employees, i.e. the Comprehensive Employee Group Health Insurance Plan in Dubai.

This comes at a substantially higher cost but if the number of employees to be insured is large enough, then the business can get a significant discount on the premium payable, and hence, the overall investment in employee health insurance becomes more affordable.

Employee Group Health Insurance in Dubai – How Does It Work?

1. Healthcare Insurance Coverage: The benefits provided to employees by Employee Group Health Insurance in Dubai vary widely. However, most policies cover pre and post-hospitalization expenses, diagnostic tests, treatments and consultations, and pharmaceutical costs. In addition, fees charged by specialist surgeons, outpatient consultations, vaccinations, daycare procedures, minor surgeries, and maternity services may also be included. 

Most employers opt for policies that extend the benefits to dependent family members like spouses, children, and parents. But if only the employee is insured by the employer, then the employee must buy additional insurance policies separately to ensure that all his family members are insured as per Dubai laws.

2. Factors Affecting the Premium: Remember that as a business owner, the onus falls on you to pay the premium for Employee Group Health Insurance in Dubai. You cannot deduct this amount from the salaries you pay to your employees. The amount of insurance premium depends on several factors such as:

• the number of employees to be insured
• insurance coverage per employee
• the average age of employees
• the average salary of employees
• industry to which the business belongs
• coverage for dependent family members of the employees (if any), and 
• the total amount made in claims in the previous year.

3. Tiered Benefits for Employees: Not every employee will have the same insurance requirements. For example, younger employees will benefit more from maternity and childcare benefits, while older benefits might benefit more from coverage of pre-existing conditions. Employees who travel frequently to countries that mandate health insurance as compulsory will also have different insurance needs compared to those who don’t travel much. 

Hence, it is a good idea to understand the insurance needs of your employees and categorize them into groups. This way, you can optimize the investment you make in Employee Group Health Insurance in Dubai and reduce your overall premium by a huge margin. It will also lead to higher utilization of the insurance a greater employee satisfaction.

We hope the above information and insights on Employee Group Health Insurance in Dubai help you to make an informed choice about securing the health of your team. We at Seguro Insurance have helped numerous businesses obtain the best Employee Group Health Insurance in Dubai for their team. We are a leading insurance brokerage company in Dubai and have tie-ups with trusted and reputed insurance companies in the UAE.

If you need assistance with anything related to insurance, we are here to serve you with utmost commitment, empathy, and professionalism. Get in touch with us here, or visit our website to learn more about us.