No, there are also certain rules that apply for transition policies i.e., ongoing policies where the policy coverage extends to 2018.
The current understanding is that VAT will also be payable for that period. Where the insurance policy is issued in 2017 and expires in 2018, tax will be applicable for the time period where health insurance coverage is provided in 2018.
For example, where a policy is issued on the 1st of October 2017 and expires on the 30th of September 2018, VAT at the rate of 5% will be pro-rated for the nine (9) months (1st of January 2018 – 30th of September 2018) that the policy is in effect.