Life is very uncertain and the healthiest of people can fall extremely ill at any given time. Cost of treatment only keeps increasing over time making it very difficult for individuals to pay for treatment out of their pockets. This shows us how important Health Insurance is for each and every person regardless of where they are and whether it is mandatory or not.

Following are some of the factors you should take into account before deciding on a suitable plan:

Geographic Coverage: Check what coverage you require. If you travel a lot, you may need a plan that has worldwide coverage. Most basic plans will only provide cover within the UAE. International coverage will cost more and this can be a factor to consider.

Network: Not all hospitals are covered by plans. Decide on which hospital would be best for you and then check which plans have the hospital in their network. There are plans that include the best of hospitals such as American Hospital in Dubai and Cleveland Clinic in Abu Dhabi. See what suits you the best.

Pre-existing conditions: Most pre-existing conditions are covered by insurance plans but there may be a waiting period involved. Also, the extent of cover for these conditions and time may differ from plan to plan. Before buying a plan, make sure of this and compare plans to choose the one with minimum waiting period.

Copay and Deductible: Copay, short for copayment, is a fixed amount a healthcare beneficiary pays for covered medical services. The remaining balance is covered by the person’s insurance company.

A deductible is a fixed amount a patient must pay each year before their health insurance benefits begin to cover the costs.

After meeting a deductible, beneficiaries typically pay coinsurance—a certain percentage of costs—for any services that are covered by the plan. They continue to pay the coinsurance until they meet their out-of-pocket maximum for the year.

Plans with lower premiums will typically have a higher deductible and co-payment.

Maximum annual limits: A plan with a very high maximum limit will cost more. Do take into account all health factors to decide what maximum limit would be right for you.

Is a Basic Plan sufficient? – No, a basic plan would not suffice in case of emergencies and expensive medical treatments. Therefore, it is better to go in for a comprehensive policy which provides wider coverage. Healthcare is very important and many enhanced plans include annual checkups and other wellness benefits. So do consider these factors before deciding on a plan. A person can have two medical plans so if your company only provides basic plan, you can consider taking another plan by paying from your pocket.

Compare: You must compare all shortlisted plans online to check various terms including whether or not the plan provides for direct billing so you do not need to pay first and then claim the amount from the insurance provider.