Health Insurance Portability
Retain All Your Medical Insurance Benefits Despite Changing Your Policy.
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What is Health Insurance Portability?
Changing the health insurance policy may be necessary when people change their jobs or relocate to another country. They may also decide to switch from one insurer to another when they find better products or services.
Importance of Health Insurance Portability
Continuation of Benefits
Most insurers specify a waiting period to cover pre-existing diseases. Policyholders also get a no-claim bonus for every claim-free year. Porting helps you carry these benefits (if any) to the new policy.
Relocation
Health insurance plans typically provide coverage within a country. So porting your policy is essential to enjoy the coverage when you shift from one country to another.
Change of Employment
Your new employer may offer a different group health insurance plan. Portability ensures that you continue to get medical coverage without losing out on the benefits of the earlier plan.
Hike in Premiums
Porting to a new policy can result in substantial cost savings when the existing insurer decides to significantly raise the premium, or you can find a similar plan at a lower premium
Better Features
You can switch health insurance policy to another health insurance company if the new plan provides better coverage and other benefits that are not available in your existing plan
Change in Requirements
A change in your situation, such as marriage, childbirth, or retirement, may warrant a different plan to cover your needs.
Healthcare Provider
If your family physician or a preferred hospital is not in your current plan’s network, you can easily shift to another plan that includes them.
Advantages of Porting Health Insurance
Higher Sum Insured
The accrued bonus and the no-claim bonus in the existing plan will be added to the new policy to determine the sum insured.
Continuation of Benefits
Porting of health insurance ensures that the policyholders retain all their benefits after switching to a new policy.
Customizing the Policy
Porting enables you to modify the existing policy to suit your current requirements. You can choose to enhance the coverage, switch from an individual to a family floater plan, get more add-on covers, etc.
Lower Premiums
You can easily switch to a new policy with a lower premium due to health insurance portability.
Higher Claims Settlement
With porting, you can select an insurer who enjoys a higher claims settlement ratio.
Better Benefits & Services
Porting makes it convenient to choose a health insurance plan that provides better benefits. You can also shift the insurance provider if you are not happy with the services.
Disadvantages of Medical Insurance Portability
Timing
Porting of health insurance is possible only at the time of policy renewal. You cannot switch the policy at any other time.
No Significant Changes
Porting is allowed only between similar policies. You cannot port health insurance policies to get a completely different plan.
Rise in Premiums
Certain additional benefits provided by the new policy may require the policyholder to pay a higher premium.
Loss of Benefits
Shifting from one insurer to another may entail a loss of certain benefits depending on the plan.
Factors to Consider Before Porting Health Insurance
Better Features
You can consider shifting to another insurer if it offers a better product with more attractive features than your current policy.
Price Difference
Compare different plans at the time of renewal. Choose a health insurance plan that offers better coverage at the same price or the same benefits at a lower price.
Hidden Clauses
You must check whether the new plan is more comprehensive and transparent than the current policy. There should be no hidden clauses that restrict your coverage or benefits.
Claims Settlement
The new insurer should have an efficient claims management process and a claims settlement ratio that is better than your existing insurer.
Quality of Service
Check and confirm the quality of service provided by the new insurer.
Specialized Services
You may require certain special services that are not provided by your current policy. You can then switch to a health insurance provider that offers these services.
Eligibility Criteria for Health Insurance Portability in the UAE
The health insurance policy must be active i.e. it should not have expired.
The policyholder has to maintain continuous insurance coverage for at least 12 months.
There must be no significant breaks or gaps in policy coverage.
The policyholder has to settle all the outstanding dues with the current insurer.
The current insurer has to be notified of the policyholder’s decision to shift to another company within the designated timeframe.
The policyholder must check the new insurer’s age restrictions and policies related to pre-existing health conditions.
Accurate and timely documentation must be provided to the new insurer.
Documents Needed for Changing Your Health Insurance
Existing policy documents
Portability form - duly filled up and signed
Identity proof of the policyholder
Address proof
Age proof of all the insured members
Relevant medical documents
History of past claims
How to Port Health Insurance in the UAE?
Understand the Terms & Conditions
Check the terms & conditions of the new insurance provider. It is important to know the specific requirements or restrictions for porting health insurance.
Research the Plans
Compare the plans, their benefits, coverage, and pricing of various health insurance companies in the UAE. Select a plan that suits your requirements.
Contact the New Insurance Provider
Once you select an insurance provider, contact the company and enquire about their policies. Provide all the details about your current policy and clearly understand the portability process.
Provide the Required Documents
Collect all the necessary documents such as your current policy, Emirates ID, visa copy, medical records, and any other document specified by the new insurance provider.
Fill Up the Application Form
Complete and submit the application form provided by the new insurer. You may be asked to provide details about your current policy and health condition.
Await Approval and Confirmation
The new insurance company will review your application. The insurer checks whether the policy can be ported and if any adjustments are necessary. The porting is then confirmed and the new policy is issued
Inform your Existing Insurer
Notify your existing insurer about the decision to port your policy. You will be guided through the cancellation process and provided with the necessary documents.
Settle Outstanding Dues and Pay the Premium
Clear all the outstanding dues with the current insurer. Make the payment for the new policy and stay up to date.
Familiarize Yourself With the New Policy
Gather all information about the new insurance company, policy features, coverage, and network providers.
Update the Healthcare Providers
Provide information about the new health insurance plan to your doctors, hospitals, and other medical service providers.
Reasons for Rejection of Health Insurance Portability
Incomplete Information
The new insurance company can reject your application for porting health insurance if you do not provide true and complete information.
Delay in Submission
The policyholder must apply for a switch within the timeframe specified by the new insurer. Any delay can lead to rejection, and you have no choice but to wait for the next policy renewal date.
Claims History
The insurance company can reject your request for porting if the history of your past claims is not in order. Any possible case of fraud or misrepresentation will inevitably lead to rejection.
Frequently Asked Questions on Health Insurance Portability
No. Portability in health insurance is allowed only at the time of renewing your policy and not at any other time.
You can change your health insurance when your policy is due for renewal. You must notify the switch to your current insurance company at least 45 days before the policy is due to expire.
People typically opt for medical insurance portability when they relocate to another country, change their jobs, or if they find a better plan with attractive features or lower premiums.
The waiting period in the new policy for any specific health condition will not be affected if it is the same as the previous policy. You just have to serve the remaining time period. But this depends upon the terms & conditions of the new insurer.
Disclaimer: The health insurance policy or plan may have limitations, exclusions, and other terms and conditions that may affect coverage. It is important to carefully review the policy wording before making any decision.