Investment, VUL
The Philippines is protected, but it still has to be vigilant against COVID-19
The Philippines is protected, but it still has to be vigilant against COVID-19
Underinsurance and out-of-pocket medical bills
The actual monetary cost to regular Filipinos is arguably as appalling as the death count of COVID-19. Modern treatment has kept infectious illnesses off the list of leading causes of mortality for decades. According to the CDC, the last time an infectious illness was among the top causes of mortality in the US was in 1940, before antibiotics were invented.
We know that between 2012 and 2020, the country’s overall yearly (OOP) hospitalization cost did not improve much. It has been about 50% of overall health costs in the recent decade. A prominent health care crisis and the ensuing OOP costs may quickly lead to financial disaster for the uninsured.
COVID-19 has demanded a healthcare paradigm change. Mandatory PPEs, for example, have considerably increased medical expenses, which were already beyond of reach for most Filipinos. Even public hospitals have remarked that COVID-19 hospitalization costs far exceed the ordinary Filipino’s budget.
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Global Filipino Blogger
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A multi-award-winning blogger and advocate for OFWs and investment literacy; recipient of the Mass Media Advocacy Award, Philippine Expat Blog Award, and Most Outstanding Balikbayan Award. Her first book, The Global Filipino Bloggers OFW Edition, was launched at the Philippine Embassy in Kuwait. A certified Registered Financial Planner of the Philippines specializing in the Stock Market. A recognized author of the National Book Development Board of the Philippines. Co-founder of Teachers Specialist Organization in Kuwait (TSOK) and Filipino Bloggers in Kuwait (FBK). An international member of writing and poetry. Published more than 10 books. Read more: About DiaryNiGracia
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