- Dubai is testing systems that will automatically block visa renewals of employees without health insurance
- Health cover is affordable and can be bought online in just a few minutes, says yallacompare
- Fine for failing to buy health cover is AED 500 per uninsured employee, per month
Dubai: yallacompare has reminded UAE employers that they’ll soon be unable to renew employment visas, as well as facing hefty fines, if they fail to buy health insurance for sponsored employees.
According to reports emerging this week, Dubai’s General Directorate of Residency and Foreign Affairs is in the final phase of testing systems that will block visa renewal for those who are uninsured.
Once the system is fully up and running, it will automatically flag cases of non-compliance and halt the visa renewal process. The fine for failure to insure employees is AED 500 per uninsured employee, per month.
“Medical insurance has been mandatory in Dubai for some time now and there is no excuse for not having all employees covered,” said Jonathan Rawling, CFO, yallacompare. “Policies can be bought online, cheaply, in just a few minutes and only minimal documentation is required.”
Around a dozen Dubai insurers, including yallacompare, partner Orient Insurance, now offering the Essential Benefits Plan, which provides a specified range of benefits to employees earning less than AED 4,000 per year.
Annual policies cost around AED 550 and provide up to AED 150,000 of coverage per year. Employers can add additional benefits up to a coverage limit of AED 5 million per year.
The number of people covered by health insurance in Dubai has reached 4.7 million, according to Dubai Health Insurance Corporation. Around 2% of visa holders are believed to still be uninsured.
yallacompare is the Middle East's leading comparison site by employee count and share of online insurance sales. Using its platform, consumers can compare and buy insurance policies online, as well as apply for bank accounts, credit cards, loans, cars and more in nine markets across the MENA region. Additionally, yallacompare is committed to bringing more transparency to the region’s finance industry, and actively works to educate users so that financial literacy can be improved across the Middle East.
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