Retirement healthcare UAE_Bayzat pdf

1. Retirement Healthcare : Improved economy is indicated by a healthy society. People of UAE do not lead an active and healthy lifestyle. Especially, post-retirement healthcare bills are bound to be very high in the UAE as GCC countries contribute a lot to health risks such as hypertension, diabetes, cardiovascular ailments and obesity. This is a reason for the increase in healthcare costs. It is advisable to include healthcare planning as a vital aspect of wealth accumulation and preservation during retirement years. Chances of the people of the UAE living up to the age of 78 have increased compared to their life expectancy level of 75 during the year 2003. So people of the UAE should save a significant amount as a part of their retirement fund so they can take care of their post-retirement healthcare expenses without any difficulty. They should go for the best possible healthcare they may need during these years and maintain good health. Expert Advice: While doing retirement planning, should combine both the aspects of nest egg accumulation and healthcare What UAE pre-retirees says: Over 1,000 UAE residents said that due to poor health not be able to save for their retirement. Nearly 80% of the UAE pre-retirees say that thanks to their work commitments and paucity of time, they are not able to lead a healthier lifestyle. Around 61% pre-retirees are financially unprepared for leading a comfortable retired life. 50% of the UAE pre-retirees think that their desire to buy a house is a barrier that prevents them from saving for their retirement. Few pre-retirees say that their poor health and the expenditure they incur for raising their children impede them from saving and building adequate

2. nest-egg money. Important things to consider while planning for retirement : People fail to think about health coverage. people should not forget that after their retirement, they have to bear the premiums of their health insurance on their own because they are not employed any more. As health costs are increasing rapidly. So, people should ensure that they have sufficient funds with them for having the right type of healthcare during their retirement period. In the case of expats, how long they will work in the UAE depends upon renewal of their visas by their employers. If employers do not bear their healthcare insurance premiums, they have to pay the premiums from what they earn.