According to Dubai Health Insurance Law No. 11 (2013), employers are required by law to offer their staff health insurance. The minimum benefits required by DHA in Dubai must be met or exceeded by the extent of corporate health insurance plans. Although providing corporate medical insurance to employees is legally required for businesses, there are numerous benefits to offering comprehensive coverage for your staff.

For SMEs and HR managers, the insurance experts at CRI have made this article, which is packed with advantages and advice on how comprehensive corporate medical insurance may benefit your firm.

The Advantages of Providing Comprehensive Corporate Medical Insurance

Comprehensive corporate medical insurance at work has several benefits for both companies and employees, even though it is required in the UAE. Group corporate policies not only offer better value for your money, but they also maximize your recruiting and hiring procedures, minimize staff turnover, build more employee loyalty, and raise output and job satisfaction.

So, this health insurance Dubai and the UAE is truly beneficial. There are many insurance providers, so choose wisely and finalize the best and most suitable corporate health insurance policy for your company.

Cost-effective

For small and medium-sized businesses, providing group health insurance Dubai and the UAE makes financial sense. The average cost per person of SME health insurance plans is usually lower than that of private-sector medical insurance policies. This ensures that your enterprise can devise a strategy to satisfy its unique requirements while adhering to financial constraints.

Corporate plans are also made to give your company additional possibilities for your group policy at a significantly lower cost.

Do you know the possibility behind this? Group insurance has a smaller risk pool than individual policies since the risk is shared by more participants. Investing in a more comprehensive plan doesn’t always result in higher premiums because it’s a cost-effective option that benefits both your present staff and prospective hires greatly.

Understand the exclusions in your policy

It’s crucial that you are aware of the exclusions in your corporate medical insurance policy before you upgrade or buy a new one. For instance, did you know that accidents at work are not covered by medical insurance or that medical insurance policies do not cover injuries related to RTAs? You can make the best decisions to ensure you have the necessary coverage to protect your employees and your organization by being aware of what is and is not covered by your policy.

Better recruiting and hiring

Providing comprehensive corporate health benefits can be an essential part of a successful recruitment and hiring procedure. A recent study found that 66% of SME survey participants mentioned they provide medical employee benefits as a means of attracting and keeping top talent. Without attractive benefits, it can be hard to draw in top talent.

However, going above and beyond the bare standards for health care can set your company apart from the competition. For instance, do your competitors provide add-ons like comprehensive wellness packages or even optical or mental health insurance? The difference between hiring top talents and losing them to your competitors can be determined by these additions.

Minimize employee turnover and boost loyalty

In particular for small organizations, high employee turnover may be expensive. By providing corporate health insurance plans, you can keep your talented employees on board. In addition to demonstrating to your workforce the value of their contributions, comprehensive medical insurance benefits can help motivate staff members to stick with your company over the long haul.

Plans for corporate health insurance policy that allow you to add dependents and family members to the same policy will encourage your staff to stick with you.

Better worker well-being & enhanced productivity

Your employees will have easier access to high-quality healthcare when they have exceptional company health insurance. In the case of a medical emergency, healthy workers can concentrate on their work knowing that their loved ones will be taken care of.

Healthier workers also take fewer sick days and miss fewer workdays, which maximizes productivity because well-trained individuals often complete tasks faster and more successfully than sick ones. Furthermore, healthier workers may result in lower labor expenses because unhealthy workers may retire early or resign, which can result in expensive employee turnover.

How to Select Your Company’s Most Profitable Corporate Medical Insurance

When choosing a corporate medical plan, there are a number of factors to consider. When purchasing group health insurance coverage, your company should take the following factors into account in particular:

Affordability Inclusivity Digital and mobile access Comprehensive coverage

Add-ons (such as wellness benefits, optical, personal accident insurance, dental coverage, group life insurance, etc.)

At CRI, we bring small and medium-sized enterprises (SMEs) in touch with trustworthy brokers who can match your company with corporate medical insurance that fits both your requirements and your budget. Finding the greatest coverage for our client’s employees and dependents is something we take great delight in. Our team of consultants is prepared to support you, regardless of the size of your business.

In order to ensure your employees have the best and most suitable medical insurance to meet your unique needs, we are available to assist you assess your current policy or offer you an estimate for new coverage. For SMEs, having corporate medical insurance is vital, and getting it is now simpler than ever. Please feel free to contact us!

Read more: Steps to File a Successful Medical Insurance Claim