Health insurance Portability : What You Need to Know
Dubai’s mandatory insurance laws have more or less ensured that every citizen including expats have adequate health insurance. A lot of residents of the UAE have health insurance but are planning to change their plan or insurance service provider. If you also want to do the same, then this is the perfect blog for you with all the relevant information.
What is health insurance portability?
Health insurance portability means the insured person has the ability to maintain their coverage and benefits once they leave either a country, or an employer that provides their insurance. It can also refer to the ability to shift insurers whilst still keeping the coverage and benefits you had with your previous provider.
People might want to change their health insurance if they are leaving a particular organization to join a new one, or are leaving the country for a long period of time. With new health insurance plans available in the UAE, the insured person gets the freedom of choice and can alter their health insurance plans as per their preference and budget
You can easily change or alter the health insurance policy without undergoing the entire paperwork and verifications all over again.
When should you consider changing your health insurance?
The idea of changing your health insurance may seem a little daunting, but it will be beneficial for you in the long run. Here are some circumstances under which you can consider to change your health insurance policy –
- Claim settlement
Claim settlement should be hassle free and seamless for any health insurance policy. If you are facing problems or your service provider has a history of slow settlements, then now is the time to change your health insurance plan
- Hidden clauses in your plan
During the course of your policy when settling a claim or at the time of an emergency you might come across certain hidden clauses of your health insurance policy. You might have not known these at the time of buying the policy or signing the papers. In case this happens, you can port your health insurance policy to a new plan or a new health insurance service provider.
- Bad service
Bad after service can also be a reason people change their health insurance plans. If the experts are not willing to guide you once you have purchased the policy, then you know you have made a wrong decision and need to change the health insurance service provider.
- Price difference
At the time of renewal a lot of people check for newer policies which have a better coverage and may be available at a lower price. Make sure to compare different health insurance plans online so that you can get the best prices.
- Need for specialized service
In case you need certain specialized services as part of your health insurance plans which your current insurance doesn’t offer, then you can easily change your plan or even your health insurance service provider.
Why does porting health insurance make sense?
Porting health insurance plan is beneficial for the following reasons –
- Better premium
- Experienced service
- Continuous benefits
- Waiting period is reduced
- Better coverage plans
- Retain your no-claim bonus
Documents needed for changing your health insurance
Following is the list of documents that would be needed if you plan to change your health insurance –
- Existing policy document
- Claim history
- Identity proof
- Duly filled and signed portability form
- Medical documents (might be needed in some cases)
- Age proof of insured members
- Address proof
What do you need to know about health insurance portability and getting continuous benefits?
Each health insurance service provider will handle portability in their own manner. Read on to know what are the benefits of health insurance portability and how can you keep getting continuous benefits –
- Do all health insurance plans offer portability?
No, not all health insurance providers give you the option of insurance portability. Regardless of whether you’re looking at portability with the same insurer or a completely different one, the ultimate decision about whether there’ll be a continuation of your previous benefits to a new plan will rest with the insurer.
- Will there be any extra cost?
There may or may not be an extra cost that you have to pay for health insurance portability. It all depends on particular health insurance providers. The two factors that can incur an extra cost are – location can impact the premium of your health insurance policy and pre-existing conditions may require you to pay a certain extra amount.
- When can I apply for health insurance portability?
You can only make changes to your coverage at renewal time, this includes moving coverage from one country to another. It’s common for people to request a continuation of a plan with an appropriate amount of time, 45 days for example, before their policy is due to expire.
- Can I change my health insurance if I am changing my employer?
Yes, you can change your health insurance if you are changing your employer. But keep in mind that the portability will not transfer over to your new employer’s group health plan – you will end up having to pay for your own individual health insurance that offers continuation of your previous employer’s benefits.
Rights of policyholder in regards to health insurance portability
If you are planning to change your health insurance plan, keep in mind that you as a policyholder have these rights –
- You can switch the insurance company every time you renew
- You can switch the plan as many times as possible
- All your existing family members can get coverage under the new plan when you switch.
- The new insurance company would have to reduce your waiting period for the time you have already waited out in the last policy.
- The minimum sum insured would be the same as in the last policy. You can, however, choose to increase the sum insured.
Originally published Jan 09, 2023 16:59:23 PM, updated Jan 09, 2023