Everyone should be concerned with health and wellness. When you’re healthy, you become productive and happy in life. Fortunately, there are various health care plans that you can choose from in the Philippines namely health insurance, health maintenance organizations (HMOs), and Philippine Health Insurance Corporation (PhilHealth).
Collectively, these health care plans aim to help you stay healthy by providing you healthcare benefits upon payment of premium or contributions. This way, you can reduce your out-of-pocket spending in case you become ill or hospitalized.
On the other hand, these healthcare plan providers also differ in several ways such as coverage, premium or cost, and benefits. Who pays for the health insurance is also a major difference among the three.
If you have an individual health insurance plan, you will be paying the premium of your insurance on your own. As for PhilHealth, the government agency in charge of providing universal health coverage in the country, you can either make voluntary contributions (if you’re not employed but still want to have health coverage) or your employer can automatically deduct your monthly contributions from your salary. Other private companies, meanwhile, offer HMO benefits for their employees by paying for their premium in whole or subsiding payments for employees.
If you’re a regular employee, you can have both PhilHealth and HMO benefits. But, are these enough for you to really feel secure? The answer lies on the unique benefits that each healthcare plan brings for you or your family, but here are some things you should consider.