Understanding health insurance better

With increasing costs, medical insurance has become a must as it serves as a financial back-up especially during family emergencies.

 

No one wants to get sick so one has to be prepared as it is almost always financially draining.

 

Here are some important health insurance/HMO facts:

 

 

  • Are pregnancies covered by standard health insurance policies?

​

 

No. Standard coverage is for pre- and post-natal consultations only.

 

  • Is there a minimum age requirement or limit for a baby’s health insurance?

​

A baby can be between 15 days to 60 days old to be covered depending on the provider chosen.

 

 

  • Are there specific health insurance plans for senior citizens?

​

 

Yes. There are plans that cover senior citizens up to 100 years old.

 

  • Can you give us an idea of how much the premiums will cost for senior citizens?

 

Assuming the person to be covered is 66 years old, comprehensive coverage can range from Php 30,000 to Php 85,000. There is an option for prepaid coverage at Php 13,000 with limited benefits.

 

 

  • What are the standard benefits for a good health insurance policy?

 

Preventive Care (covers annual physical exam/executive check-up, wellness programs, and counseling), Out-Patient Care, In-Patient Care, Emergency Care, and Financial Assistance.

 

 

  • Are critical illnesses and their corresponding treatments covered by health insurance?

 

Yes but if the illness is a Pre-existing Condition (PEC), coverage is not automatic as some companies have a contestability period prior to coverage of PECs.

Understanding health insurance better

With increasing costs, medical insurance has become a must as it serves as a financial back-up especially during family emergencies.

 

No one wants to get sick so one has to be prepared as it is almost always financially draining.

 

Here are some important health insurance/HMO facts:

 

  • Are pregnancies covered by standard health insurance policies?

​

 

No. Standard coverage is for pre- and post-natal consultations only.

 

  • Is there a minimum age requirement or limit for a baby’s health insurance?

​

 

A baby can be between 15 days to 60 days old to be covered depending on the provider chosen.

 

 

  • Are there specific health insurance plans for senior citizens?

​

 

Yes. There are plans that cover senior citizens up to 100 years old.

 

  • Can you give us an idea of how much the premiums will cost for senior citizens?

 

Assuming the person to be covered is 66 years old, comprehensive coverage can range from Php 30,000 to Php 85,000. There is an option for prepaid coverage at Php 13,000 with limited benefits.

 

 

  • What are the standard benefits for a good health insurance policy?

 

Preventive Care (covers annual physical exam/executive check-up, wellness programs, and counseling), Out-Patient Care, In-Patient Care, Emergency Care, and Financial Assistance.

 

 

  • Are critical illnesses and their corresponding treatments covered by health insurance?

 

Yes but if the illness is a Pre-existing Condition (PEC), coverage is not automatic as some companies have a contestability period prior to coverage of PECs.