This is one of my least favorite topics.
If we (in the US) thought of it as an insurance product rather than as a charity that “must” pay for our health costs it would probably be different…
…but I don’t want to get political here.
I want to talk about the Philippines.
One of the perks our team gets is Philhealth and health insurance coverage. Even companies in the Philippines don’t offer this because private health insurance isn’t required for employers. We started offering health insurance on top of Philhealth when we saw that Philhealth wasn’t enough.
I bet you’re a little confused by this. Isn’t Philhealth health insurance? It’s socialized medicine, and everybody pays for it.
Philhealth is socialized medicine in the Philippines. All hospitals accept Philhealth but it only covers hospitalization, and it doesn’t cover all hospitalization costs. realistically, Philhealth just lowers their bill if they are hospitalized.
This is where health insurance fills the gap.
Health insurance and HMOs in the Philippines supplement what Philhealth can’t cover. To sign up for an HMO, you have to be a Philhealth member and be up-to-date with your contributions. So if you’re hospitalized, the HMO should cover whatever fees are leftover after Philhealth pays their share.
Another good thing about health insurance is that it covers preventive health services and outpatient procedures. Our team can get a physical exam, check-ups, emergency treatment, and inpatient hospital care without worrying too much about the cost. Our team is also able to visit the dentist for annual cleaning.
Some of our workers even pay extra to extend the coverage to their family members. They’re willing to pay for this out of pocket because it ends up cheaper in the long run and gives them ease of mind if anyone in their family has a medical emergency.
This isn’t something we offer to all employees right away. To qualify for this perk, our Filipino workers have to render at least six months of continuous work. Some employers require at least a year.
I think this is a good policy because if your worker hasn’t paid into their Philhealth yet, six months of regular payment will make them a member of good standing.
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