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Nationwide survey reveals alarming statistics: 59% of Filipinos lack private medical insurance

Medical insurance plays a crucial role in ensuring access to affordable and quality healthcare services. It provides financial protection to individuals and families by covering a portion or all their medical expenses. Moreover, it acts as a safety net, providing individuals with the peace of mind that they will be able to receive necessary medical treatment without worrying about the financial implications. In line with this, Capstone-Intel Corporation conducted an extensive analysis of Filipino attitudes towards private medical insurance.

To gather accurate data, Capstone-Intel conducted a nationwide survey from August 1 to 10, 2023, involving a total of 1,205 respondents.

The conducted study involved asking the respondents regarding their possession of private medical insurance. The findings revealed that 35% of respondents indicated having private medical insurance, while 59% did not, and 6% were uncertain.

Furthermore, the data revealed information about how those who possessed private medical insurance obtained it. Specifically, 44% of individuals personally paid for their insurance, 43% obtained it through their employment, 17% were beneficiaries of the head of their household, and 11% were beneficiaries of their children.

Additionally, the study sought to understand the reasons behind the lack of medical insurance among respondents. The results indicate that 63% cited the high cost of insurance as the primary factor influencing their decision. Furthermore, 30% mentioned reliance on government health programs as sufficient for their healthcare needs. A subset of 22% cited coverage limitations and exclusions as a deterrent to obtaining
insurance, while 15% admitted to a lack of awareness or understanding regarding available medical insurance options.

Capstone-Intel, in response to the existing gap in private medical insurance coverage, has put forth a proposal to address this issue.

“One effective approach is to create educational campaigns that explain the advantages of private insurance, such as shorter wait times for appointments, access to a wider network of healthcare providers, and comprehensive coverage for a range of medical treatments and procedures. These campaigns can be disseminated through various channels, including social media, television and radio advertisements, and informational materials distributed in healthcare facilities and community centers,” it said.

“Additionally, it is important to simplify the process of obtaining private medical insurance for the public. This can be achieved by partnering with insurance companies and healthcare providers to offer user-friendly online platforms where individuals can compare different insurance plans, understand their coverage options, and easily enroll in a plan that best suits their needs. Furthermore, providing financial incentives, such as subsidies or tax credits, can make private insurance more affordable for individuals with lower incomes. By streamlining the enrollment process and making private insurance more accessible, the public can be empowered to take charge of their healthcare and
benefit from the advantages of private coverage,” said Capstone-Intel.

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