Let’s face it, the majority of solo entrepreneurs or self employed individuals in the Philippines do not have healthcare plans. In accordance to the Philippine Statistics Authority, about 28.2% of the employed populations are self-employed. We all get the notion that being self-employed can draw a lot of benefits. Working for yourself and owning your time, might be on top of the list of benefits. However, there are also sets of drawbacks we can get from being self-employed like healthcare benefits.
We all know how important it is to gain access to healthcare. But when you are self-employed it would be hard to avail an affordable one. Luckily, HMOs now are offering health plans that cater to the solo entrepreneurs.
What is HMO?
HMO stands for “Health Maintenance Organization”. It is an organization that arranges managed care for health insurance, self-funded health care benefit plans, individuals. It also acts as a liaison with health care providers (hospitals, doctors, etc.) on a prepaid basis. (Wikipedia)
First advantage of availing an HMO is that beneficiaries get to choose within a variety of networks doctors, physicians and other preventive healthcare options. Another advantage, when an HMO contracts with a network, the beneficiaries get to have special advantages. These advantages keep health-care costs under control.
We all know that health-care providers can charge ridiculous prices for treatments and services. If left unchecked, your total bill will be big. An HMO will tell health-care providers connected to its network what they can and cannot charge. Thus, protecting your pockets from overcharging and overspending.
Since an HMO operates only within a given set of networks, beneficiaries are also restricted. An HMO’s focus is mostly to treat future illnesses and to manage preventive healthcare services. Often, pre-existing illnesses are not covered.
Why go for HMO?
Though, HMO is new in the country, it promises efficiency when it comes to cost and medical healthcare. The goal of an HMO is to offer preventive care. Healthcare managed organizations believe that prevention is better than the cure. This is the reason why self employed individuals should consider Health Maintenance Organizations for their managed healthcare services needs.
At Horsepower.ph, the process of getting health insurance is simplified. With a few clicks, you get your choice of health plan and enrollment is as easy as a walk in the park.
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