Nowadays, getting sick is really expensive. If you’re just an ordinary employee having a basic salary, getting sick is one of the scenarios that you wish to avoid. If you are a regular employee, it would be a great time for you to rest because your company will probably give you a sick leave. But if you are one of the many contractual workers who were not granted a sick leave, you’ll have to accept the fact that once you skip work, salary deduction will follow afterwards. Aside from the deduction, do not forget that you’ll also be paying the hospital for check-up, medicines and even confinement. So, to prevent this from happening, it’s a good idea to invest a part of your salary to health insurance.
What is a Health Insurance?
It is a type of insurance that is used to help insured individuals to pay for their medical bills. Here in the Philippines, insured individuals are given insurance health cards which are presented upon payment of bills.
What benefits can you get from the Health Insurance?
Health Insurance companies covers to pay for different hospital services like confinement, medical check-ups, dental check-ups, eye check-ups, x-rays and blood test. Aside from these services some policies offer paying minor surgeries that you need to undergo.
When will the insurance company pay for your medical expenses?
First thing that you need to do is to pay your deductible cost. After paying the deductible cost, you need to pay first your portion of the medical expenses which is the co-insurance cost. Afterwards, the remaining balance will be shouldered by your insurance company.
How much are they willing to pay in your expense?
The insurance company will be giving you an annual coverage limit which is the amount that the insurer is willing to pay within the year. Let’s say that you are insured from June 12, 2014 to June 12, 2015, for the whole year you are entitled an insurance policy of P120, 000. If you happen to claim the whole P120, 000 on December 2015, and you got sick from January to June 12, 2015, you are not entitled for an insurance claim. The plan will only be effective on June 13, 2015 onwards.
Hope that this article helped you!
This article is brought to us by: Philippine Prudential Life Insurance Company
What is a Health Insurance?
It is a type of insurance that is used to help insured individuals to pay for their medical bills. Here in the Philippines, insured individuals are given insurance health cards which are presented upon payment of bills.
What benefits can you get from the Health Insurance?
Health Insurance companies covers to pay for different hospital services like confinement, medical check-ups, dental check-ups, eye check-ups, x-rays and blood test. Aside from these services some policies offer paying minor surgeries that you need to undergo.
When will the insurance company pay for your medical expenses?
First thing that you need to do is to pay your deductible cost. After paying the deductible cost, you need to pay first your portion of the medical expenses which is the co-insurance cost. Afterwards, the remaining balance will be shouldered by your insurance company.
How much are they willing to pay in your expense?
The insurance company will be giving you an annual coverage limit which is the amount that the insurer is willing to pay within the year. Let’s say that you are insured from June 12, 2014 to June 12, 2015, for the whole year you are entitled an insurance policy of P120, 000. If you happen to claim the whole P120, 000 on December 2015, and you got sick from January to June 12, 2015, you are not entitled for an insurance claim. The plan will only be effective on June 13, 2015 onwards.
Hope that this article helped you!
This article is brought to us by: Philippine Prudential Life Insurance Company