Why Do Most Filipino Elderly Avoid Getting Health Insurance? - Finance in a Minute
Believing in "usog" can be detrimental to the health of Filipino senior citizens, here's why you still need to talk about health insurance.
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health insurance for filipino senior citizens

Why Do Most Filipino Elderly Avoid Getting Health Insurance?

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Health insurance is an essential aspect of life, especially for the elderly, whose healthcare expenses tend to increase as they age. However, most Filipino elderly avoid getting health insurance. In this blog post, we will discuss why that is and how Finance in a Minute’s health insurance product Pacific Cross can provide peace of mind to those who are hesitant.

The Belief in “Usog”

According to our consultations, most parents do not like to talk about health insurance due to their belief in “Usog.” “Usog” is a Filipino belief that by talking about sickness or accidents, they are tempting fate. Unfortunately, this belief can be detrimental to their health in the long run. It is essential to understand that not every sickness will result in death, and avoiding thinking about them can even result in a delay of timely intervention, which can worsen the situation. By having health insurance, they can have peace of mind and access medical facilities and professionals when necessary.

The Importance of Having Health Insurance for Senior Citizens

As we grow old, our healthcare expenses tend to increase, and this trend is seen more in the case of elderly people. Therefore, having health insurance can provide us with the necessary financial protection and peace of mind. Here are a few reasons why getting health insurance is essential for the elderly:

1. Not Every Sickness Will Result in Death

It is essential to understand that not every sickness will result in death; therefore, we do not need to fear getting sick. With the right medical intervention, we can recover.

2. Timely Intervention

Following the belief of “Usog” can result in a delayed timely intervention, which can worsen the situation. Health insurance offers access to medical facilities and professionals at the time of need.

3. Life Savings Should be Enjoyed!

Our life savings should be used for exciting events like traveling and spending time with family and not for medical bills. Having health insurance can help avoid the financial burden of medical bills.

4. Health Insurance vs. Life Insurance

Many elderly people confuse health insurance and life insurance. However, health insurance and life insurance are not the same. While some products may offer similar benefits, pure HMO insurance is not an investment product. Unlike life insurance, health insurance provides coverage for medical bills.

5. Waiting Period

Most health insurance policies have a waiting period before the full benefits commence, which can take up to a year. However, sickness and accidents can happen anytime, and it’s always better to be prepared. By having health insurance like Pacific Cross by Finance in a Minute, seniors can have coverage for the medical expenses that may arise.

6. Avoid Burdening Loved Ones

Unexpected medical emergencies can pose a significant financial burden for families who do not have health insurance. Having health insurance can help get rid of this problem, and patients can focus on their recovery.

7. Faster Clinical Decision Making That Can Save Your Life

Having the ease of knowing that we have the funds available just in case can allow for faster decision making when it comes to life-saving measures such as surgery or medications. Having Pacific Cross health insurance provided by Finance in a Minute makes the process seamless and quick.

8. Faster Recovery

Not worrying about hospital bills allows us to recover faster and worry-free. It eases the stress that comes with worrying about medical expenses, thereby speeding up the recovery process.

9. Expert Assistance

Getting help with filing a claim can be challenging, especially when getting it for the first time. Pacific Cross by Finance in a Minute provides expert assistance to get essential paperwork done in a stress-free way. Our financial consultants and their families also have this product so they have personal experience in the claim processing that can work to your advantage in processing your own claims.

10. The Freedom to Choose Your Doctor and Facility

Pacific Cross is one of the few HMO companies that do not require you to consult with their network of doctors. All you need is an Official Receipt from both the doctor and facility to file a reimbursement claim. If the facility and doctor is accredited by Pacific Cross, they have a cashless method where your claim is automatically deducted into your bill. As with most of the cases with senior citizens who already have their family doctors who know their extensive history, Pacific Cross offers the most flexible plan since they do not need to switch doctors just to get coverage.

Pacific Cross by Finance in a Minute

Finance in a Minute offers health insurance product specially designed for seniors who are hesitant about getting health insurance. It provides extensive coverage for Senior Citizens, offering up to PHP 500,000 in claims for only PHP 94 a day. Family members can also enrol their parents or grandparents on their behalf. With Pacific Cross, clients can expect fast processing times and expert assistance from financial advisers to ensure a stress-free experience.

Getting sick can be a scary experience, and not having health insurance can make it even more daunting. The elderly should not avoid getting health insurance due to beliefs such as “Usog.” Finance in a Minute’s Pacific Cross can provide peace of mind, allowing our clients to focus on their recovery and not worry about financial burdens. For more information on Pacific Cross, get in touch with our financial advisers today HERE.

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