News: Compulsory medical insurance for Dubai employees (& how to arrange it)

It has been announced that a new law will be coming into force in the emirate of Dubai stating that employers will have to provide medical insurance for their employees.

The new law was unveiled yesterday, although the full details have yet to be published. According to the Dubai Health Authority, it is to be rolled out within three years, in several phases, beginning in 2014.

Essa Al Maidoor, director general of the Dubai Health Authority, has apparently said that the average cost of providing basic insurance to expat employees in Dubai would be about 1.5% of their salary, with the option to top up the basic package with extra coverage.

I hope to have full details of the requirements before too long, but if you are a business owner, an HR manager or someone tasked with arranging a company plan you can do yourself a favour, and save a great deal of time and money, by speaking to an experienced medical insurance broker.

I wrote about corporate plans earlier this year in this article:    Medical insurance schemes that benefit both employee and employer

There are many providers in the market and each offers different plans, with some being better for larger schemes, others for smaller arrangements. The service levels vary, as does the price. Arranging the best scheme can be a total headache, but you can not only outsource the task at no additional cost, but also get the best unbiased advice. We can also assist with the ongoing running of the scheme.

Time moves fast, so if this affects you, why not start looking at your options soon, rather than having a last minute panic to sort out suitable cover?

For a chat or meeting about your option – without obligation – contact me at keren@holbornassets.com

 

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About financialuae

A qualified and experienced Independent Financial Adviser based in Dubai, UAE. Professional and ethical. Freelance writer on personal financial issues & the On Your Side column in The National. Regular radio guest. Senior Partner at Holborn Assets LLC, Dubai, UAE.
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3 Responses to News: Compulsory medical insurance for Dubai employees (& how to arrange it)

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