Dubai: The minimum premium rate to buy a ‘basic’ health insurance plan in Dubai could in for an increase from Dh550, according to senior sources in the local insurance and healthcare sectors. If so, this could be the first major premium increase in regulator-approved basic plans since their launch in 2014.
“From insurers’ point of view this is much needed to stop insurers “subsidizing” this basic product,” said Mustafa Vazayil, Managing Director of Gargash Insurance, one of the top brokerage firms in the UAE. “As and when the premium on the basic plan goes up, the expectations are that on higher benefit plans, annual premiums could witness some reductions.”