15-07-2020
UAE:Economic slowdown forces employers to slash employee health insurance benefits
Insurance AlertssUAE:Economic slowdown forces employers to slash employee health insurance benefits
Companies operating in various sectors in UAE are reducing their employee health insurance bill, when they renew the cover, by cutting the benefits that employees receive.
The reductions include shrinking the network of health centres and hospitals, decreasing the limits of health insurance coverage and the nature of services available to employees, and lowering the health service classes which employees can enjoy, reported Al Roeya. Some employers now choose regional health coverage instead of international plans for their employees.
The insurance companies meet the new variables of their clients by offering flexible insurance plans that suit the budgets of the various companies, including prices, benefits and payment plans.
A senior executive of an international health insurer told Al Roeya that the current economic effects brought about by the COVID-19 pandemic on local and regional commercial activities in various sectors push companies to adopt plans to reduce costs so as to contain the repercussions of the crisis.
Source: Middle East Insurance Review
