Media Release

Dubai, Jun 22: The KEL event, 'Impact of mandatory health insurance in Dubai' was successfully held at the India Club in Dubai. The event started at 7 pm with the president Alfred Vaz getting participants to take seats and Mark Denis D’Souza welcoming the gathering and introducing the speaker, Albert Rodrigues.

Albert Rodrigues is the managing director of Millennium Insurance brokers LLC, one of the most progressive firms offering consultancy in risk management and insurance broking service across the board in all classes of insurance. Having served in several key positions for one of the largest global insurance corporations based in Dubai, Albert Rodrigues has established himself as one of the leading figures in the UAE’s insurance industry. Rodrigues being a qualified professional through Chartered Insurance Institute of London has been serving in the boards of many professional and trade bodies of UAE.

The topics included understanding of health insurance, overview of mandatory health insurance law, its objectives and provisions, implementation of the law with shared roles and responsibilities, minimum benefits provided under the law, how typical health insurance operates, optional extensions which can be bought back, standard exclusions, and difference between group versus individual health insurance.

Rodrigues being a veteran in the insurance industry shared his knowledge of the market in general and in particular health insurance, challenges faced by the insurance industry and guidance to employers and general public on purchasing health insurance.

Rodrigues said the authorities have spent considerable time and efforts in formulating the law and discussing it with stakeholders on its implementation to ensure the law benefits the end user while protecting the service providers. The objectives are access to and quality health care for all residents with flexibility for advancement, to create a self sustaininghealth financing system.

Rodrigues said the mandatory health law covers all residents, visitors, medical service and health Insurance providers with appropriate monitoring system to ensure implementation is done as intended. The law stipulates employers with over 1,000 employees must insure by October 2014, employers with 100 – 999 employees by July 2015 and those havingless than 100 employees before June 2016.

Rodrigues emphasized policyholders should utilize Health Insurance with prudence and due responsibility besides monitoring its utilization. He stressed that it is important to avoid falling ill by maintaining good health and in the vent of falling ill be diligent in seeking the right medical attention at the right time. Rodrigues stressed the need for looking at health insurance on medium to long term and consult experts before buying as it is a big investment and is here to stay and be part of our daily lives.

Following the main presentation participants were engaged in an interactive question and answer session which participants appreciated. Most of the participants felt they were enlightened with the health insurance and felt good in being guided.

Aloysius Fernandes, the president Elect of KEL, Dubai thanked participants, organizers, the speaker and invited all to join for dinner.