Let's break the myth. Insurances are NOT just for elders!
Healthcare in the Philippines is often tagged as "unfortunate expense". Extreme internal pain? Go to Google and just purchase the over-the-counter medicine mentioned in there.
This extreme health culture doesn’t only happen in the Philippines, but it’s all around the world where corrupt institution manifests.
The majority of people, especially those living paychecks to paychecks are afraid of hospital bills. Falling sick is unacceptable. It is an inconvenience. A bad luck.
But, can we blame our bodies for falling ill? Especially those who do labor jobs, which also are the people that seem to get the smallest amount of salary. The demands of their daily jobs are often too rigid, too dangerous, and too physical where bodies can break their limits. Yet they are mostly the ones who are afraid of hospital check-ups because of the possible hospital bills that might put them in debt.
For a country with poor financial literacy, the financial costs of a bad accident or an unforeseen diagnosis can set a whole family down.
Why did I get an HMO?
Just right after my incubation period (3 months) on my full-time job, I got all the benefits that all regular employee gets, namely:
- Monthly Internet Allowance
- SSS
- PhilHealth
My HMO Plan
There are several affordable health insurances here in the Philippines that everyone can avail of, working or not. As long as you have the money to purchase it, off you go! But I encourage all the employers out there to please give their employees the benefits they deserve.
LinkedHelpers, the company I'm working with, allows all their regular employees to purchase a maximum P3,600 HMO Plan ($61.28).
I got the My MediCard Plan from MediCard. This includes 1-year membership period with benefit inclusions of:
1. Unlimited out‑patient consultations by the following specialists:
- Family medicine
- Internal medicine
- Cardiologist
- Endocrinologist
- Pulmonologist
- Gastroenterologist
- Dentists
2. Dental Services by MediCard-Accredited Dental Clinics
My MediCard member may also avail of one-time oral prophylaxis (mild cases only - few tartar and plaque build-up on surfaces of teeth and those hidden in between and under the gums).
How to sign up?
- Go to MediCard site and hover over "Online Store" tab.
2 . Select the right HMO plan according to your needs. You could get a plan for:
- Yourself - Starts at Php 500
- Your family - Starts at Php P10,739
- Your employees - Starts at Php 30,000
- Senior Citizens - Starts at Php P25,739
- Maternity and pre-existing conditions - Starts at Php 30,000
- OFWs with beneficiaries in the Philippines - Starts at Php P16,524
There are also several HMO plans you can get depending on your needs. Just check these websites out!
At 20, I honestly feel that I'm too late on building my financial freedom, especially with the income I'm getting now. But I've learned that as long as you budget with plan, and compute your alloted compunding money for investments, with respect to the inflation and other variables, I can compute the amount I should have to retire at my desired age.
As I'm entering my financial life, any tips from you would be soooo helpful! Any kind of investment, passive income, and insurance would be appreciated. 😍 Just drop them! I'll be happy to explore them 💗
P.S. I'm not affiliated nor a partner of MediCard.
