3 in 5 Pinoys lack medical insurance  

MANILA, Philippines — Three in every five Filipinos do not have access to private medical insurance at a time when access to affordable and efficient healthcare services is important.

The latest survey from the high-impact research firm Capstone-Intel Corp. showed that 59 percent of Filipinos do not have private medical insurance, which offers financial protection by covering a portion or all of their medical expenses for individuals and families.

It revealed that only 35 percent of Filipinos have private medical insurance while the remaining six percent are uncertain.

To those who lack medical insurance, 63 percent of them indicated that the high cost of insurance is the primary factor for their non-availment.

Another 30 percent of Filipinos also cited government health programs as sufficient for their healthcare needs.

The other reasons for their lack of private medical insurance include coverage limitations and exclusions, as well as lack of awareness on medical insurance options.

The data also revealed that about 44 percent of those who have existing insurance personally paid for it while 43 percent got it through their employment.

The others secured their insurance as beneficiaries of their children or other members of the family.

Capstone-Intel maintained that medical insurance acts as a safety net by providing individuals with the peace of mind that they will be able to receive necessary medical treatment without worrying about the financial implications.

Given the huge gap in medical insurance penetration among Filipinos, the research firm noted that one approach is to create educational campaigns that explain the advantages of private insurance.

These include shorter wait times for appointments, access to a wider network of healthcare providers, and comprehensive coverage for a range of medical treatments and procedures.

It added that it is important to simplify the process of obtaining private medical insurance for the public.

“This can be achieved by partnering with insurance companies and healthcare providers to offer user-friendly online platforms where individuals can compare different insurance plans, understand their coverage options, and easily enroll in a plan that best suits their needs,” Capstone-Intel said.

The research company likewise suggested financial incentives, such as subsidies or tax credits, to make private insurance more affordable for individuals with lower incomes.