The reason why you bought a health card plan is to protect you from unwanted medical bills. But in some instances, you won’t be able to use the plan’s benefits for the duration of the membership (1 year). So what happens to your money?
Can I Get A Refund from Health Cards?
As a member, you will pay them a minimal amount in exchange of them paying for your medical expenses.
However, once the membership ends, usually after 1 year, you will no longer be covered and your payment will not be refunded or reimbursed. To be covered again, you have to pay for the next year’s duration.
Reasons to Get a Plan
Every time you get sick, you can use your health card plan to pay for doctor consultation, undergo diagnostic tests and pay for the room and accommodation if you need to be confined.
All the accumulated cost will be paid by the HMO based on your Maximum Benefit Limit (MBL). For example, you will pay about Php 20,000 per year in exchange of the company covering your expenses up to Php 200,000.
Is this a good deal? It is actually a practical deal. Nobody wants to get sick. In the event that you do, then you are covered up to Php 200,000 by simply paying 10% of it. No one can predict what will happen to you in the next 12 months so it’s much better to have a sort of protection “just in case”.
If you wish to maximize your payment, then we have good news since some plans have free dental check ups, free annual physical exams and even discounts at partner merchants.
What is Reimbursement?
HMOs have a specific list of doctors and hospitals where you can use your account. If you will be hospitalized in a non-member hospital, then the HMO can simply reimburse the amount you paid to non-accredited doctors and facilities. Remember that there are limitations to this and usually, they can only reimburse up to 50%. Some health cards however can give up to 100% of reimbursement.
Is HMO an Investment
It is not so you should not expect to get returns after the membership. The money you paid for is for the profit of the company in exchange of having you getting benefits from their network of hospitals and doctors.
Final Words
Getting a health card may be costly. However, always bear in mind that life is unpredictable. Always remember this, “it is better to have it and not need it, than to need it and not have it”.
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