Medical and Hospitalization Insurance

Medical and Hospitalization Insurance

I have been wanting to write about this topic since March of this year and harp about the importance of having a medical insurance in the form of Health Maintenance Organization (HMO). Back then, my dad suffered a mild stroke that had him confined to the hospital for a week-three nights in the ICU and the rest, in a private room.

He was on his sixth year with Caritas Manila and has accumulated his benefits over the years. The total hospital costs reached more than a hundred thousand and we paid only a fraction of that. The rest is courtesy of his HMO. Prior to that, he was also able to use it (unfortunately) because of kidney stones. Back then, we didn’t pay a single cent since the total bill fell within his hospitalization limit.

Eight months later, I found myself selecting the room I’ll be staying for the rest of MY confinement. I was afflicted with dengue and unfortunately for me, I just had to have myself admitted for monitoring of my platelets (blood tests were done every six hours).

It dawned to me that I am not as invincible as I thought I am. At 26, I am physically fit. I regularly work out and eat healthily (I think) and the last thing that I ever thought would happen was being confined in the hospital.

Worse, I don’t have any HMO as I stupidly had mine cut because I thought it was such a waste of money despite having my company subsidize half of it. I regretted that decision and it was one of the worse decisions I have ever made financially. Well, it happens to the best of us.

Despite the bill only reaching P25,000.00 including doctor’s fee. I could have saved this amount. Hey 25 grand can still buy a lot of things now Christmas is fast approaching.

But instead of the HMO footing the bill, it had to come from my own pocket. Bummer!

Another thing that compliments the HMO is hospitalization income. For every night spent at the hospital, the insurance company will pay a sum equivalent to the plan you got. I was supposed to get one for myself since Sun Life has already made our Sun First Aid available for retail but I just kept delaying it thinking I don’t need to hurry to purchase one. What could possibly happen to me?

Well, dengue can happen! And so I was confined without really getting one. The four nights I stayed at the hospital could have yielded me eight thousand pesos! So in effect, I actually loss P33,000.00. Not to mention the unearned income I am suppose to earn had I not been sick.

Medical insurance is a paradox itself. People don’t buy one because they feel it’s a waste of money if they don’t get sick. Well then good! Who wants to get sick and hospitalized anyway? But if it happens, at least there is something that can alleviate the agony-financially and emotionally. That’s why it’s called insurance.

The recent event was an eye-opener for me. It made all sense to get both of them. So should you.

Tags: HMO, medical insurance

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