Group medical insurance is an employer-sponsored medical insurance plan for employees. Some employers also offer membership to dependents resident in UAE.
Group medical insurance has several features which are different from individual plans. These include:
A good quality group medical insurance plan sends a positive message to existing staff. It tells them you value them and their health. It is also a useful recruitment tool.
Medical insurance is mandatory in the Emirates of Dubai and Abu Dhabi. For a list of companies offering the Essential Benefits Plan, the minimum required for a Dubai residency visa, visit Dubai Health Authority. However, employers who wish to impress new recruits with their degree of pastoral care will need to go beyond the statutory minimum.
Studies have shown healthy staff are more productive. This, in turn, makes the company more profitable.
Any broker you appoint should be licensed and professionally qualified. Using a broker to source your group medical insurance policy has several advantages:
Group schemes have a few rules which do not apply to individual schemes. The primary one being that membership is compulsory for all eligible employees. Further, regulators do not permit employees to pay for their medical insurance premiums, although employers can claim back costs of dependents.
Most insurance companies require a minimum of 5 employees before they will offer group terms.
Please contact us to discuss your group medical insurance renewal.