Health Insurance

 

Health insurance is a form of insurance cover which explicitly covers the insured’s medical or surgical expenses. Once you buy insurance coverage, each of you and your health insurer agrees to pay part of your medical expenses, usually a certain amount or percentage of the expenses.

 

How to get Health Insurance

 

Most employees receive health insurance through their employer. Individual health insurance, however, is one way to get coverage if you are not eligible for an employer-sponsored plan or if the plan is too expensive or limited for your company.

 

As with most employer plans, individual plans offer similar benefits. You may pay even less for an individual health insurance plan than one by an employer, depending on your income.

 

In choosing for a health care insurance provider, first, you must work out on a budget. This will effectively help determine all the health care providers available. Next is choosing which plan is most sensible based on the policy holder’s needs.

 

The average cost of of health insurance in a public sector, like Philhealth, would cost you P1,400 to P6,600 per annum. This varies based on how much you earn and whether you are under the formal or informal bracket. If you are employed, your company should cover half of the contribution.

 

In HMO premiums, the cost varies according to the coverage you get. The plans would cost between P10,000 and P60,000 a year, anywhere. And as for a private health insurance, the lowest plan would cost you P40,000 per year.