HMO or Health Maintenance Organization is a healthcare delivery system that most employees are entitled to use as part of the benefit they receive from their employers. HMOs enable individuals to receive a wide range of medical help for a fraction of a price since it’s subsidized by their employers. To know more, below are a few Philippine HMO facts you should know.
You Can Choose From Up to 16 HMOs in the Country
To date, there are 16 HMOs in the country, which includes MEDICard, Intellicare, MaxiCare, Philcare, Insularcare, Valucare, and Fortunecare, to name a few. These HMOs typically cover both outpatient and inpatient procedures as well as any emergency treatments you may need. However, any medical assistance should be delivered by recognized doctors, clinics, or hospitals.
HMOs and PhilHealth
You can use your HMO membership along with your PhilHealth plan. Should you be confined, PhilHealth will partially cover your bills from anywhere to 15% and 30% if you’re a member. The remaining balance will then be paid by your chosen HMO plan.
HMOs Provide Financial Security
Employees who are part of an HMO plan through their employers can save a lot in the long run. Since most medical procedures, emergency assistance, and even confinement are covered, it means more savings for employees who don’t have to take out hefty fees from their own pockets.
For HR, it Serves as a Way to Retain Talent
Many employees nowadays are very conscious of the fringe benefits they’re getting. To some people, it even makes up their decision on where to work. If you want your company to remain competitive and be able to attract as well as retain the best, you have to be able to offer something as basic as an HMO plan.
Choosing the Right HMO for Your Organization
Choosing the right HMO is not easy, no matter how much of a veteran HR staff you are. Tom Gotuaco of MoneySense recommends that, “Employee benefits almost always need to be outsourced to the right insurance experts.” If you want to make the right call, you might want to get the additional input of an insurance expert not affiliated with any particular company or brand.