Introduction
Among the Gulf Cooperation Council countries, an insurance provider from the United Arab Emirates, specifically Sukoon Insurance, can be highlighted. Although the company is headquartered in Dubai, it provides insurance services to residents of both the United Arab Emirates and Oman. Moreover, the firm was previously known as Oman Insurance Company. Currently, the firm provides a variety of insurance services and has influential partners and investors.
Sukoon Health Insurance Plans
Enhanced Plus
The company offers a variety of employee health insurance plans on its website. For example, one called Enhanced Plus includes several key benefits. It is designed for groups of 50 to 5,000 participants and is positioned as one of the most affordable options (Enhance Plus, 2019). These include a drug limit for outpatients from AED 2,000 to 7,500 and free life travel insurance that covers death from any cause (Enhance Plus, 2019). This includes direct billing through the Vital network in the UAE, normal inpatient care in the country of residency, and multiple co-payment and deductible choices for all outpatient procedures.
Shield Saver
The second plan, Shield Saver, also offers many perks, such as no deductible for telemedicine, discounts on surgeries not covered, and no minimum wage limits (Sukoon Insurance, 2019). As for the employer’s responsibility in this matter, the employer must pay the workers’ medical coverage premiums. However, if the employee purchases an expansion plan, they will not receive a refund of premiums when the employer’s policy is excluded.
Healthcare Financing in the Gulf Countries
Ways of financing the healthcare sector in Saudi Arabia and the United Arab Emirates differ slightly, although they share commonalities. Saudi Arabia uses oil profits to develop drugs, build hospitals, and buy equipment, as well as privatize the healthcare system (Rahman, 2020). The United Arab Emirates and Saudi Arabia rely more on funds distributed from the federal budget (El-Jardali et al., 2024). Moral hazards play a significant role in managed care, including that offered by this company. Staff may misuse medical services and rely on the company’s treatment due to their benefits.
Conclusion
Overall, Sukoon Insurance offers numerous benefits for employees within their respective major medical plans. Additionally, employers are obligated to pay insurance premiums for their members. Furthermore, risks influence the company and provoke their own consequences. In the United Arab Emirates, national healthcare services are primarily funded through federal budget allocations, a common feature with Saudi Arabia.
References
El-Jardali, F., Fadlallah, R., & Daher, N. (2024). Multi-sectoral collaborations in selected countries of the Eastern Mediterranean region: assessment, enablers and missed opportunities from the COVID-19 pandemic response. Health Research Policy and Systems, 22(1), 14.
Enhance Plus. Enhanced Plus Group Health Insurance Policy in Dubai, UAE – Sukoon Insurance. (2019).
Rahman, R. (2020). The privatization of health care system in Saudi Arabia. Health services insights, 13.
Sukoon Insurance. (2019). Shield saver and plus insurance plan. Sukoon.