Aug
23
Emergency Evacuation Coverage Often Ignored
Filed Under Expat Insurance, Health Insurance, Healthcare, International Healthcare, Medical Insurance, Spain, United Kingdom | 4 Comments
With the ability to travel across the world getting easier every year, one thing many people do not take into account is the price of getting home should an accident occur. Cases like Carrie-Anne Dudbridge and Ryan Elley are sad illustrations of the necessities of travel insurance in the modern age.
There have been a number of incidents this year involving holidaymakers, many of them from Britain, who have suffered a tragic accident while vacationing in another country. Many of these occurrences have happened within Europe, likely due to the fact that traveling between European Union member states is an easy and economical way to reach some of the most sought after travel destinations in the world.
The European Health Insurance Card (EHIC), which replaced the E111 in 2006, also reassures travelers within the EU, by offering them some level of health insurance coverage when visiting other member states. However, in some cases the EHIC may be lulling people into a false sense of safety, as many are still confused over what exactly is covered by the EHIC.
The EHIC guarantees holder the same access to healthcare as a local resident in the event of illness or accident while traveling. While this can lead to some minor aggravation and bureaucratic hoop-jumping, depending on whether the country the EHIC holder is visiting has copayments, or relies on a system where you pay for treatment up front and claim the costs back, recent accidents have demonstrated that it is no replacement for actual travel or international health insurance.
Should someone suffer an unforeseen catastrophic injury that requires hospitalization while on vacation, it may be necessary to transfer the patient by air ambulance to the nearest medical facility capable of providing the necessary care. Furthermore, depending on the quality of the local healthcare system or the feasibility of waiting for the patient to recover enough to travel home regularly, it may be necessary to transport the patient back to their home nation via medical repatriation. In either case, the costs associated with both air ambulances and medical repatriation are extraordinary; without the appropriate medical insurance in place individuals are left facing thousands of dollars in fees.
Ryan Elley and Carrie-Anne Dudbridge are just two of the most recent in a long line of unfortunate accidents in European getaway locations. Ryan Elley, 20 years old, made a last-minute decision to join his friends in Playa d’en Bossa, a well known party destination on the Spanish island of Ibiza, without taking out health insurance. While at the Jet Apartments at the resort, Elley fell from a second floor balcony, breaking his spine in three places, puncturing a lung and suffering serious head injuries. Elley was the second British national to fall from a balcony at the Jet Apartments, after Peter Carter was injured earlier in 2010 when he attempted to jump from a 3rd floor balcony into the pool, but misjudged the distance. This activity has apparently happened frequently enough that it is now dubbed ‘balconing’ and Spanish authorities in the Balearic Islands are asking tourists to restrain themselves to prevent injuries.
Ryan Elley was placed in a medical coma at the Son Dureta hospital in Palma, Majorca. His parents are trying to repatriate him to England, but due to the fact he did not take out medical insurance they now face a GBP 15,000 (USD 23,360) bill for the air ambulance. So far his family and friends have raised GBP 8,000 towards the costs of the air ambulance.
Carrie-Anne Dudbridge was a newlywed on her honeymoon to the Greek island of Corfu with husband Michael Dudbridge, when she suffered a tragic accident and fell 20 feet from the balcony, fracturing her spine in three places. The Dudbridges did have the EHIC, which they believed would cover their expenses in the case of an accident, however, they found out that the EHIC does not provide cover for medical transportation.
Because the couple did not have travel insurance, they faced having to pay GBP 16,000 (USD 25,000) for an air ambulance to repatriate Carrie-Anne back to England. Mr. Dudbridge launched an appeal for help on the internet, which thankfully has raised about GBP 20,000 (USD 31,190), enough to have the Dudbridges flown back to England on Sunday, August 22nd 2010, by Mediaviation, a private air ambulance service.
These incidents occurred in first world nations, Greece and Spain respectively, where the quality of healthcare and medical treatment is generally considered to be fairly high. If Carrie-Anne had suffered her injury in a country where the provision of medical treatment is much more limited the costs involved with transporting her home safely could be much higher. Were Ryan Elley to have been injured somewhere further a field than Spain, it could have been very difficult and cost-prohibitive for his family to fly out and assist him, in effect leaving him alone in a foreign country with no insurance.
Thailand for instance, where approximately 860,000 Briton tourists visited between March 2009 and 2010, happens to be the place where, proportionally, the most number of British tourists are likely to die or end up in hospital according to British Behavior Abroad, a report by the British Foreign & Commonwealth Office (FCO). The report also illustrates the unfortunate fact that due to financial pressures, many holidaymakers are forgoing travel insurance to save money.
It is important to make sure that you have some level of protection when traveling, whether that is through basic travel insurance or an international medical insurance plan that covers emergency evacuations. While having some form of protection is a start, it is necessary to have an understanding of what your insurance covers, as in some cases travel insurance will not cover you if there is an accident where drugs or alcohol are involved. Accidents do happen, and as Chris Bryant, the British Foreign Office Minister said, “Getting comprehensive travel insurance means that whilst an accident may disrupt your holiday, it won’t bankrupt you in extortionate medical or repatriation bills.”
Aug
13
Bupa Growing Abroad
Filed Under BUPA, Expat Insurance, Health Insurance, Hong Kong, IHI Bupa, Insurance Company, International Healthcare, Medical Insurance, Spain, USA Health Insurance, United Kingdom | Leave a Comment
Bupa, the UK’s largest private medical insurance provider, has announced its financial results for the first half of 2010. The report indicated that while the company’s UK membership numbers remained flat, there was considerable growth in international markets contributing to an overall increase in income of £3.71 billion(US$ 5.7 billion) for Bupa.
Trading conditions in the UK, US and Spain have been particularly difficult since 2008, reflecting the fallout from the general downturn in business activity in these countries. However, trading in Australia and other non-European countries, and the USA, has helped Bupa generate an overall increase in revenue for the first six months of 2010. The UK health insurer reports a 10 per cent increase in revenue to £3.71 billion (US$ 5.7 billion) producing a 5% increase in surplus funds amounting to overall growth of £183.6 million (US$ 285 million) for the same period. As Bupa is a provident association all funds are reinvested into the company, consequently Bupa does not recognize “profit” per-se, but rather “surplus” revenue.
The 10% increase in revenue for Bupa was driven by organic growth of 4% and agreeable foreign exchange movements of 6%. Higher sales in Australia contributed to higher revenue, and a favorable exchange rate from the Australia Dollar to the Sterling was a strong factor for the company’s success.
As a result of the tough economic conditions in the UK, Bupa experienced a 0.8% decline in membership numbers over the 6 month period. Revenue and profits from the UK market remained flat for the first half of 2010 following one-off restructuring costs, but significant loss was contained by lower claims payments and cost savings resulting from new a new administration system adopted in August 2009.
Trading in the USA private medical market was also adversely affected because of the economic downturn, high unemployment levels, and the reform of the healthcare system in the country. These factors all contributed to the slowdown in new business sales and renewals. Bupa continues to develop new products to meet the changing demands in the American private healthcare market, with new business opportunities arising following the passing of health reform legislation; industry watchers expect increased sales volume for USA private medical insurance as President Obama’s reforms roll out through to 2014.
In international markets, Bupa’s surplus increased from £51.3 million (US$79.8 million) to £88.7 million (US$138 million) over the six month period, until 30th of June 2010. Bupa International still remains the largest provider of international private medical insurance, with a global 2% increase in policyholders over the reporting period; primarily due to Bupa Arabia, and Bupa Australia experiencing increasing membership numbers.
Ray King, Chief Executive of Bupa commented on the future of the Australian health insurance market by saying: ‘In our Australian insurance business, the integration programme is almost complete and we look forward to the launch of a single product suite later this year which should further enhance our competitive position.”
In other markets, Bupa Latin America reported an increase in profits compared to the same period last year, explained by steady membership growth and lower claims being made. Bupa Hong Kong revenue increased modestly, and Max Bupa, the joint India venture launched in March 2010, has 6 retail offices in major cities across the country; this is planned to increase to 9 outlets by the end of 2010.
The future for Bupa in the UK and US remains unclear due to the stringent economic conditions and the impact on demand for private health insurance products. However with both governments implementing major reviews of healthcare provision it may give the UK medical provider opportunities to accelerate business in these markets. Chief Executive of Bupa, Ray King said “The UK and US government started to articulate their plans for reform of their healthcare systems and we believe that this should offer new opportunities for businesses in the future.”
The future outlook for Bupa internationally looks positive; consolidating their market presence in the international health insurance market. However, the markets in Europe and North America are still subject to difficult economic conditions.
Insurance Company Mentioned:
Bupa
Bupa was established more than 60 years ago in the UK and is now has ten million customers in over 190 countries, and over 52,000 employees around the world. Bupa is a leading international healthcare provider, offering personal and corporate health insurance, workplace health services and health assessments. As a provident association Bupa has no shareholders, because of this it uses its profits to invest in healthcare and medical facilities around the world. Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the US, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America.
Aug
6
AXA PPP International Continues Asia Expansion
Filed Under AXA PPP, China, Expat Insurance, Healthcare, Hong Kong | 3 Comments
After having established a dedicated health insurance operation in Asia, AXA PPP International is now in the process of revamping its distribution network to increase their capabilities in the region. Teaming up with AXA Asia General Insurance (AGI), their partnership aims to increase the volume of business for both life and general insurance in Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China, places where AXA has already established a presence.
The AXA PPP – AGI joint venture plans to target local markets first, tightly linking the procured business towards improving the proposition of AXA PPP International to global corporations seeking to cover both expatriate employees and local national employees. In other words, provide expatriate cover as and when the client wants it, plus present them with a local market proposition for local employees.
According to the feedback from global corporate clients of AXA PPP International, it is no longer good enough to just buy a UK private medical insurance scheme and cover their expatriate employees, but they may also want to cover a high number of their local employees in the country where their office is located.
The new Asian operation will initially build relationships with local and regional brokers, whilst looking at how to comply with the legal and regulatory challenges to also work with UK-based brokers.
Insurance Company mentioned:
Originally known as PPP Insurance, the company became part of the Global AXA Group in 1999 and changed its name to AXA PPP in 2002. AXA PPP is now an international health insurance company with over 2 million customers around the world.
Aug
4
Elderly Britons Urged To Get Medical Cover When Abroad
Filed Under Expat Insurance, Medical Insurance, Uncategorized, United Kingdom | 5 Comments
The Foreign Office is encouraging elderly Britons who go abroad to ensure they have full medical cover. A report released in July 2010 found many elderly British holidaymakers traveling abroad lacked adequate medical cover or had no cover at all.
The British Behaviour Abroad report – complied by global foreign office staff – analyzed insurance taken by British travelers during the period between April 2009 and March 2010. It highlighted the need for British nationals to have sufficient medical care when abroad.
The report concluded that people buy travel insurance but often fail to declare pre-existing medical conditions thus leading to policies becoming invalid. Consequently travelers are left to fund medical costs from their own pockets.
British consular assistance was required for hospitalization a total of 3,689 times during the review period, with Spain being the main country where medical aid was required. Other destinations featuring highly were the USA, Egypt, France, China, Pakistan, Thailand, Greece, Australia and Italy. The report highlighted the fact that consular offices in foreign countries are only able to assist with hospitalization needs for British nationals, but cannot pay patients medical bills.
As an example the British foreign office in the USA was required to facilitate assistance for a couple who did not declare the husband’s double heart bypass before departure, rendering the medical insurance policy held invalid. The consular team was able to arrange a repayment plan with the hospital for the couple to meet the medical costs. Prior to the consular team’s involvement, the couple had already paid US$10,000 (£6,500) towards medical costs incurred; assistance was required when the medical costs spiraled upwards.
The foreign office found that 19% of British travelers leave their home without any form of medical insurance. Many people believing their credit card accident cover, home insurance or private health cover will be sufficient to cover all eventualities when they are abroad – without realizing that this in fact is not the case. Comprehensive travel and medical insurance are required to give individuals proper cover when overseas.
In addition to the foreign office report, the Association of British Insurers (ABI) also announced that the total medical bill payment for 2009 reached £274 million (US$393 million ) – or £5.3 million (US$8.4 million) a week (US$8.4 million). The cost of medical expenses has increased over 270% in the last 5 years. The ABI said 336,000 claims were made for overseas emergency medical treatment in 2009 – a number that has tripled in the last 5 years. The cost of medical treatment accounts for 60% of the total cost of all claims paid by travel insurers.
The ABI’s Director of General Insurance and Health, Mick Starling said: “The often high costs of overseas medical treatment make travel insurance essential for anyone traveling abroad. All travelers should ensure that they take details of emergency medical helpline telephone numbers included in their travel policy to call for advice and help should they fall ill.”
A claim dealt with by an insurer included a £49,000 (US$78,000) payment for a traveler who required a coronary artery bypass and an emergency flight home, when he was taken ill in the USA. There was also a claim for a policy holder who was taken ill while on holiday in Cyprus – suffering from severe, allergic reaction; £9,000 (US$14,000) was paid out by the insurer. These figures highlight the necessity for proper medical insurance for British travelers.
Travelers or expatriates who do not have adequate medical and travel insurance, face the potential of having to fund costs for emergency medical services form their own pockets. The financial cost for air ambulance services can be £35,000 (US$ 55,000) or more and for repatriation from the East coast of the USA or a schedule flight from Australia with a doctor escort can be £15,000 (US$ 23,000) or more.
When taking out travel insurance policy cover the traveler should ensure it includes – medical and health cover for an injury or sudden illness abroad, 24-hour emergency assistance, personal liability cover, cancellation and curtailment, also specific extra cover is needed for activities such as adventure sports.
Mentioned Enterprises:
Association of British Insurers
The ABI (Association of British Insurers) represents the collective interests of the UK’s insurance industry. The Association speaks out on issues of common interest; helps to inform and participate in debates on public policy issues; and also acts as an advocate for high standards of customer service in the insurance industry.
The Foreign and Commonwealth Office
The Foreign and Commonwealth Office – the Foreign Office for short – is the government department responsible for promoting British interests overseas and supporting our citizens and businesses around the globe.
Aug
4
New International Coverages Offered by OneBeacon Insurance
Filed Under Expat Insurance, Healthcare, Insurance Company | 2 Comments
OneBeacon Insurance Group has recently added new areas of coverage to expand its international capabilities with two insurance products; International Kidnap and Ransom, and International Business Travel Accident. OneBeacon Insurance Group, Ltd. is a Bermuda-based holding company, listed on the New York Stock Exchange.
OneBeacon is aiming these two new products towards several of their specialty insurance customers with international exposure, particularly in technology, energy, financial services and property, and inland marine. Current OneBeacon policyholders within these market segments will be able to get the new coverages on offer at renewal, whilst new clients can get them any time now, as they became available at the beginning of this month, on 01 August 2010.
The coverage limits of the new International Kidnap and Ransom insurance range from US$50,000 (EUR 37,880) to US$5 million (EUR 3.8 million) per instance.
The new International Business Travel Accident insurance product offers 24-hour coverage, including 72-hour personal excursion protection.
The goal of OneBeacon is to offer critical global coverages in a seamless manner. These new coverages are actually built on the company’s @dvantage product platform and were designed to expand the current package of the policy, eliminating the need to purchase them on a standalone basis.
Insurance Company mentioned:
OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange. OneBeacon Insurance Group’s underwriting companies offer a range of insurance products sold through select independent agents, regional and national brokers, and wholesalers. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon’s specialty insurance businesses are national in scope while its personal lines of business are concentrated in the Northeastern United States.
Aug
2
Health Plan Options Expanded in the Middle East by Aetna
Filed Under Aetna, Expat Insurance, Healthcare, Middle East, UAE Insurance | 1 Comment
The Regional Healthcare Plan (RHP) already offered by AGB to companies in need of healthcare cover for their expatriate employees living across the region has been expanded. There are now two Regional Healthcare Plans on offer: RHP Lifestyle Plus and the RHP Lifestyle plan, which have different levels of cover and benefits, and complement the portfolio of products for individuals and groups of all sizes offered by AGB.
Employers in the Middle East can look forward to an expanded choice of cost-conscious plans and options that can be customised to maximise their investment in employee benefits.
Benefits not normally offered under a local healthcare plan feature in the new Regional Healthcare Plan, in addition to covering both hospital stays and out-patient treatment, Regional Healthcare Plans include the following:
Access to the Aetna Global Benefits’ international healthcare provider network, consisting of over 750 hospitals, labs and medical centres in the Middle East, South-east Asia and Indian Sub-Continent countries;
Cover and evacuation benefits within the Arabian Gulf Cooperation Council (AGCC), Middle East, Southeast Asia and Indian Sub-Continent countries;
Out-of-area cover for accident and emergency treatment and for elective treatment in the country of nationality of a member, should the said country be outside the area of cover; and
Optional benefits including routine dental treatment, pregnancy and childbirth, chronic conditions and wellness.
Members of the RHP also enjoy access to AGB resources and services aimed at helping them achieve optimum health and productivity, including both the online Global Health Databank, and the online Health and Wellness Centre. The Global Health Databank provides a search tool for doctors and medical facilities, city profiles, medical translation services and worldwide safety and security information. The online Health and Wellness Centre contains a wealth of educational information and resources about the key, developing health conditions in the region.
Companies mentioned:
Aetna Global Benefits, the international business segment of Aetna, is committed to helping create a stronger, healthier global community by delivering comprehensive health benefits and health management solutions worldwide. AGB’s expatriate business is one of the industry’s largest and most prominent US-based international health benefits providers, supporting more than 400,000 members worldwide. The organisation’s health management business collaborates with healthcare systems, government entities and plan sponsors around the world to design and build locally-applied health management solutions to improve health, quality and cost outcomes.
Aetna is a leading global diversified healthcare benefits company head-quartered in the US, serving approximately 35.8 million people with information and resources to help them make better informed decisions about their healthcare. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioural health, group life and disability plans, and medical management capabilities and healthcare management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, governmental units, government-sponsored plans, labour groups and expatriates.
Jul
14
Allianz has Mid-term Aims for Greater Share of Earnings from Global Business Lines
Filed Under Allianz, Expat Insurance, Insurance Company | 2 Comments
According to an investors report on their website, Allianz Group is planning on their global insurance business lines making a larger contribution to earnings in the next six to twelve months, up from the 15% they contributed towards group revenue in 2009.
Included in Allianz’s list of global business lines are health insurance, life insurance, industrial insurance run under the name of Allianz Global Corporate & Specialty, credit insurance, automotive insurance, insurance-bound assistance and asset management.
In total, these lines of business earned the Allianz Group EUR 14.5 billion (USD 18.4 billion) in group revenue in 2009, accounting for 15% of the group’s yearly total, and adding EUR 2.5 billion (USD 3.18 billion) to operating profit, making up 34% of Allianz Group’s 2009 EUR 7.2 billion (USD 9.1 billion) operating profit.
Allianz gave different targets for each segment of the global business lines, with Allianz Global Investors – Allianz Group’s asset management business – aiming for a cost-income ratio below 65%. Their expatriate health insurance division, Allianz Worldwide Care, has seen a combined ratio of about 94% in recent years despite rapid growth and expects to earn gross written premiums of around EUR 240 million (USD 305.3 million) in 2010 based on major business deals.
Euler Hermes, Allianz’s credit insurance business which had serious troubles during the economic downturn, is targeting a combined ratio of below 100% with operating profits of EUR 100 million (USD 127 million) in 2010. Banking on an average of 4% return on investments and an average combined ratio of 84%, Allianz sees Euler Hermes making a 15% return on equity over 10 years.
The combined ratio encompasses the claims ratio and expenses ratio and is used as a measure of profitability. The sum of incurred losses and expenses are divided by the earned premium, resulting in the combined ratio. A combined ratio of less than 100% means that the insurer is making an underwriting profit, while a ratio of over 100% means the insurer is paying out more in claims and expenses than it is receiving in premiums.
Allianz’s automotive insurance division is looking to expand in either the U.S. or China where there is potential for growth, as much of their automotive insurance business involves partnerships with automobile producers and many of the largest manufacturers maintain strong presences in these markets. The automotive insurance business is intent on bringing in EUR 2 billion (USD 2.5 billion) from existing markets in gross premium income over the mid term.
Insurance Company Mentioned:
Allianz
Allianz Group is one of the leading global services providers in insurance and asset management. With approximately 153,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence.
Allianz Worldwide Care was established in 2000 as the international medical insurance specialist of the Allianz Group. Allianz Worldwide Care is dedicated to providing superior health insurance policies to expatriates and their families all over the world. Headquartered in Ireland, this insurer has regional offices in Africa, the Middle East, Europe, and Asia, serving to provide their clients with the most comprehensive support network available.
Jul
6
Raffles Medical Group Opens Medical Center in Shanghai
Filed Under China, China insurance, Expat Insurance, Healthcare, International Healthcare | 4 Comments
Raffles Medical Group (RMG) has opened a new medical center in Shanghai to offer residents of the city another option when seeking medical care that is up to the highest of international standards.
The new clinic, named Raffles Medical – Shanghai, is located in the Innov Tower on Hong Mei Lu which is situated within Shanghai’s business park. Designed to offer world class medical care to expatriates, corporate customers and high net worth mainland Chinese, Raffles Medical – Shanghai is equipped to provide comprehensive medical services; including, health screening, general medical and dental treatment.
The Director of Operations at Raffles Medical – Shanghai, Yong Yih Ming said “China’s economic growth has cultivated a pool of Chinese who can afford high-quality medical care of international standards,”
The new addition of Raffles Medical – Shanghai offers a new regional platform to RMG, which already has a network of 72 clinics throughout Singapore and Hong Kong. Yong Yih Ming also added that “We have more than 30 years of experience in providing integrated care. From primary to specialist to tertiary health care, we offer a complete continuum of health care services, covering even health insurance and health supplements.”
Company mentioned:
Raffles Medical Group was started in 1976 with two clinics in Singapore. Since then, RMG has grown into a large integrated healthcare organization, offering general family medicine through their expansive network of clinics in Singapore and Hong Kong and their private hospital in Singapore. They also offer international health insurance services, traditional Chinese medicinal care and aesthetic medical treatments.
Jul
5
Expatriate Healthcare Introduces No Claims Discounts on International Health Insurance
Filed Under Expat Insurance, Health Insurance, Insurance Company, Medical Insurance | 4 Comments
International health insurance company Expatriate Healthcare has announced it will introduce an awards scheme for their customers, which comes as part of an effort to reinvigorate their expatriate private medical insurance plans.
As of July 1st 2010, Expatriate Healthcare will offer both new and existing customers discounts on their premium for staying claims-free for a year or more. The rewards scheme, dubbed Premium Rewards, will give customers who haven’t made a claim within the policy year an automatic 10% discount on their premium, with discounts rising to 15% in the second year of no claims, and 20% after the third year.
Expatriate Healthcare has also made some improvements in plan benefits. The international health insurer has introduced optical cover in the top level policy, EUR 30,000 (US$ 37,660) in cover for palliative treatments, as well as cover for outpatient psychiatric care, compassionate travel cover and family passionate care. Expatriate Healthcare is also offering clients a new excess level, set at EUR 5,000 (US$ 6,274).
Lee Gerry, the Healthcare Manager at Expatriate Healthcare said “We believe that we have taken the lead in the expatriate medical insurance market in introducing a reward based scheme. It will offer a key selling point for brokers. Our aim has always been to focus on offering value for money, in particular through offering a flexible range of policies that mean intermediaries can offer affordable options to their customers, that fit with individual requirements,”
Insurance Company Mentioned:
Expatriate Healthcare
Expatriate Healthcare is an expatriate-centric health insurance company owned and operated by Strategic Insurance Services Limited (SISL). Strategic Insurance Services Limited was started in 1997, and now operates out of London in the United Kingdom. Expatriate Healthcare offers international health insurance to all expatriates living abroad, except for people living in the United States and Switzerland.
Jun
8
Philippine Health Insurance Corporation opens Saudi Arabian office
Filed Under Expat Insurance, Health Insurance, Insurance Company, International Healthcare, Medical Insurance, Middle East | Leave a Comment
The Philippine Health Insurance Corporation (PhilHealth), which is the arm of the Philippine Government that runs the National Health Insurance Program, is opening an office in Saudi Arabia’s capitol, Riyadh, in order to provide better service to the Overseas Filipino Workers (OFWs) employed in the country.
The Philippine Health Insurance Company office, the organization’s first in the Middle East, will open in the Philippines Embassy in Riyadh. PhilHealth’s new office opening is accompanied by the distribution of flyers to OFWs with information on National Health Insurance Program membership procedures, program benefits, and how to take advantage of services. This acts both as a way to raise awareness of health insurance plan benefits and a reminder to regularly pay premiums for people already enrolled, as well as a marketing drive for OFWs in Saudi Arabia who would like to be members.
The PhilHealth office will also assist OFWs with making benefits claims, changes in membership details and collection of premiums, which are set at PHP 900 (USD 19.30). PhilHealth has a number of agreements with banks for collection of premiums to ensure that payments are easy to make for OFWs, so that they do not lose out on health insurance coverage. PhilHealth’s currently has agreements for overseas premium collections with the Development Bank of Philippines, iRemit, and Philippine Veterans Bank.
Benefits offered by the Philippine Health Insurance Company through the National Health Insurance Program cover inpatient hospital treatments including room and board, operating room fees, Laboratory tests, X-rays, medications, examination and doctor’s fees, which are automatically subtracted from the beneficiary’s hospital bill prior to leaving the hospital. PhilHealth also reimburses the costs of medical treatment for members receiving said treatment abroad.
Insurance Company Mentioned:
Philippine Health Insurance Corporation
The Philippine Health Insurance Corporation, also known as PhilHealth, is a company owned by the Philippines Government that oversees the financing of the Philippines National Health Insurance Program. Set up in 1995 according to Republic Act 7875 or “The National Health Insurance Act of 1995”, The Philippine Health Insurance Corporation is tasked with the collection of premiums from National and Local governments as well as members while they work towards providing social health insurance cover for all Filipinos.