Health care insurance is a very important investment that every Filipinos should have. It is meant to secure your future when you retire or in case something happens to you.
When you have a health plan insurance you can rest assured that even if something happens, your family will be able to reap what you are sowing now. They will not be left without the money that you are working hard for now.
Before you go and choose a health care plan, or before you say yes to your financial advisor, let this article enlighten you about the different categories of health care plans.
Your plan provider will not always use the same titles, but the percentage is almost the same. The plans will also depend on your monthly income and how much you can pay.
In the bronze category, the insurance provider will pay 60% of the whole amount and you’ll pay 40%. This means that if something happens, the coverage that you will get from them will only be 60%.
In the silver category, the insurance provider will pay 70% while you pay 30%. These categories will depend on your monthly income and capacity to pay the premium. Higher categories like the next categories have more expensive premiums.
This and the next category has the highest premium costs in all the packages. In the gold category, the insurance provider will pay 80% of the amount while you pay 20%.
Platinum category is the highest category where you pay 10% and the plan provider will pay for the 90%.
Additionally, if somebody is below 30 and are unable to avail any of the said categories, there is an option that is called catastrophic level. One can avail this is they pass any of the 12 reasons including filing bankruptcy in the last 6 months, being homeless, having substantial property damage resulting from calamities like flood and fire.