Six things you should know about prepaid health cards
As the health sector in the country gets a budget boost of Php21.5 billion from the General Appropriations Bill (GAB) for 2019, private health insurance providers also made their share in giving Filipinos access to affordable health care. Now, even unemployed individuals can avail of insurance in the form of prepaid health cards.
GoBear has listed down these six essential things you should know about sachet health insurance:
1. Prepaid health cards are like vouchers
A voucher is likened to tickets or tokens that can be used in redeemable transactions containing the information of the recipient and the available amount. Prepaid health cards can be used in times of health emergencies under certain conditions depending on the type of your card and the provider. These vouchers are valid only when services are not yet used up, or the card hasn’t yet reached the expiration date.
2. Prepaid health cards are cheaper than comprehensive health insurance
For as low as Php499, you can buy a prepaid health card that could provide free wellness checkup and discounts on hospital procedures. The price range depends on the coverage included in the plan. For instance, a Php1,000 prepaid health card could provide a maximum coverage worth Php40,000 and accidental death coverage of Php50,000.
Comprehensive health insurance is usually ten times more expensive than prepaid ones as these could also include more coverage and higher repayments.
3. Prepaid health cards can be personalized
Comprehensive health insurance packages are tailored to suit a wide range of individuals with different needs and conditions. In a company of 20 employees, each person receives the same coverage. Prepaid health cards, on the other hand, will let you pay for what you think is necessary according to your condition. You can buy a voucher that may or may not include unlimited consultations. You may also opt to exclude room and board benefits and spend less.
4. Prepaid health cards have a lot of coverages
You might be surprised, but the truth is, prepaid health insurance has packages that cover:
• Emergency care including accidental death, livelihood assistance, medical reimbursement, and disability insurance
• Preventive health care which covers Annual Physical Exam, chest X-ray, urinalysis, complete blood test, and general check-up
• Dental services with consultations, discounts on dental treatments and one-time prophylaxis.
• Hospitalization benefit could cover up to Php25,000 and access to treatments, room for confinements and medicines.
5. Prepaid health cards are available online
Because these have more lenient requirements compared to comprehensive health insurance, prepaid health cards can be easily bought and registered online. You may pay through credit cards, Paypal, bank deposits or via payment centers and providers’ partner merchants.
Upon purchase, you can activate your card by scratching the protective ink to reveal the card code or number. Follow the instructions and wait for the confirmation from your providers.
Take note that once the card and the insured individual are registered and activated, the benefits of the prepaid health card are no longer transferrable.
6. Prepaid health cards are a practical choice for unemployed individuals
Employees have almost always enjoyed having HMO benefits provided by their employers. Unemployed people like freelancers or project-based hires can opt to buy the prepaid health plans for security. Employees with dependents could also avail of these cards so their children, elderly parents, and spouse.
Affordability and practicality are two factors that we should consider when paying for financial products like prepaid health cards. Set aside a small amount from your monthly income and pay for affordable prepaid health plans that could already have you protected for a maximum of one year.
Prepaid health card or sachet health insurance is one of those financial products that could help you use your money for a worthwhile purpose. Setting aside a few luxuries to pay for security is indeed a great way towards a better life.