The United Arab Emirates' premiums for mental health insurance have been rising annually by 10 to 15 percent, and it is anticipated that this trend will carry on in 2024 as well. Executives in the insurance sector claim that while awareness of mental health issues has increased in the wake of the epidemic, UAE citizens' need for mental health insurance is still growing.
Since the pandemic, medical inflation has caused mental health insurance premiums to rise annually from 10% to 15%, according to Anas Mistareehi, the founder and CEO of eSanad. According to Unitrust Insurance's executive director, Moin Ur Rehman, the expense of medical procedures has led to a general increase in health insurance rates in 2023, including those for mental health. Therefore, insurance rates are a way for this to trickle down to the regular person.
The World Health Organisation reports that since 2020, the cost of mental health services has increased six-fold in the United Arab Emirates.
According to Moin Ur Rehman, the need for mental health insurance has grown as a result of cultural changes, an increase in the number of immigrants from nations where mental health awareness is common, and increasing knowledge of mental health conditions including anxiety, depression, and stress-related diseases.
