The healthcare system in Kuwait is one of the best in the Gulf region. However, to access the healthcare system, you will need to choose the best health insurance plan to cater to your needs.
In this article, we’ll explain what you need to get the best health insurance plan in Kuwait. You will find answers to questions like:
- Why do expats need a health insurance plan in Kuwait?
- Why should locals learn more about health insurance?
- What are the different types of health insurance plans in Kuwait?
- How do I choose the best health insurance plan in Kuwait?
- Where do I get the best health insurance plan in Kuwait?
In the end, we’ll introduce you to FinFirst, a tool where you will be able to personalize your digital shopping for various health insurance plans all within one app.
Why do expats need a health insurance plan in Kuwait?
Every expat in Kuwait must subscribe to the Kuwait Health Insurance plan through the government-run scheme or a local insurer.
Subscription to the Kuwait Health Insurance is compulsory for expats as it is a condition for residency permit.
However, the Kuwait Health Insurance plan does not cover private hospitals, private medical facilities, and repatriation costs.
Therefore, every expat in Kuwait, to access the best medical care, must subscribe to an expatriate international health insurance that covers private hospitals, private medical facilities, and repatriation costs.
Why should locals learn more about health insurance?
While you do have free access to government hospitals and medical facilities as a Kuwaiti local, an insurance plan will give you access to private hospitals and medical facilities.
Government hospitals and facilities can become easily crowded. Even the government now recognizes that these long queues and waiting times in public hospitals are a big problem.
To widen your options and receive a personalized care, you need to find the right health insurance plan for you (and your family).
Understanding the different types of health insurance plans in Kuwait
Three factors differentiate health insurance plans:
- Coverage outside of the network
Every health insurance plan has a network of medical practitioners. Some will limit the medical practitioners you can access to that network (while some won’t).
- Referral for procedures and specialists
Sometimes, your medical needs may require you to see a specialist outside of your network.
Some health insurance plans will limit you to a referral from your physician. Others don’t.
- Out-of-pocket costs and premium
Out-of-pocket costs are the part of your medical bill that the insurer does not reimburse (you pay cash). A premium is the monthly payment you make as per your insurance contract.
There is often an inverse relationship between out-of-pocket costs and the premium cost.
Below are the four basic types of health insurance:
Health Maintenance Organization (HMO)
With HMO, you have to stay in your network to get coverage. To see a specialist requires a referral, which means you have little freedom to see other providers. Also, the out-of-pocket costs are low.
Preferred Provider Organization (PPO)
While you need to stay within the network to get coverage, you don’t need a referral for a procedure or specialist. However, the out-of-pocket costs are high.
Exclusive Provider Organization (EPO)
The difference between EPO and PPO is that out-of-pocket costs are low and you have a limited choice of providers.
Point of Service Plan (PSP)
Here, you need to stay within the network and get a referral for a procedure or specialist. However, It offers more provider options.
How do I choose the best health insurance plan in Kuwait?
You will need to consider certain factors when choosing the best health insurance plan:
- Your medical condition
If you are (generally) in good medical condition, you may be more comfortable with a plan with low monthly premiums and higher out-of-pocket costs. However, if you frequently visit a doctor, you are better off with lower out-of-pocket costs and higher premiums.
Health insurance plans differ in cost and benefits. Do a cost-benefit analysis to determine the best plan for your medical needs.
If you want more flexibility, you will be better with plans that don’t require referrals to visit a specialist.
Where do I get the best health insurance plan in Kuwait?
Now that you know how to choose the best health insurance plan, the next question is where to get it.
As we have detailed, shopping for the best health insurance requires you to understand numerous personal factors. The problem with the old loan comparison model is that there is no way to personalize this search.
What if there is a way to customize how you shop for health insurance?
The good news is, there is.
FinFirst is a banking product marketplace that customizes how you connect with the very best health insurance providers in Kuwait.
FinFirst has developed a matchmaking algorithm that uses your personal profile and filters to match you with all the most recommended health insurance providers. Now you can shop for health insurance with the same experience you are used to in the largest e-commerce sites.
Are you looking for the best Kuwaiti Health Insurance or expatriate international health insurance?
Now FinFirst can help you connect with the insurance plant that is right for you.