Prepare for Medical Emergency with the Help of These Tips

You’ll hear this countless times but it’s true – you will never know what the future brings. This is why it is important to prepare for it because you’ll never know if someone in the family, including you, will get sick.

We know how challenging it is for you to save. Despite working overseas and earning more (and in dollars too), you barely have anything left in case emergency strikes. In fact, one of the most common concerns we read is lack of funds (and whether or not OWWA could offer monetary help) in case someone in the family had a medical emergency.

Why seek for help when you can do something about it beforehand, right? Here are several ways you can do to help you prepare for medical emergency:

1. Build an Emergency Fund

We always stress the importance of having an Emergency Fund. From the name itself, you know that this fund can be used in case of emergency, which could happen anytime. Ideally, an Emergency Fund must be at least three months worth of your monthly salary or higher.

To build this fund, make sure to set aside a portion of your savings every month. Start small and eventually increase your contribution. It would also work if you automate your savings to ensure that money, no matter how small the amount is, will be deposited.

In case you have loose change, place it inside the piggy bank intended for Emergency Fund. Money is still money.

2. Get a Life Insurance 

The truth is your Emergency Fund can be easily wiped out in case of a medical emergency. This is why before you leave the country, make sure to get a life insurance first. This could serve as you buffer or a safety net in case something happens to you or any member of your family.

Insurance companies offer specific policies for OFWs, thereby offering better or more benefits compared to the typical policies. For instance, AXA Philippines has Health Exentials.

Tip: Go for VUL insurance policy. Aside from the insurance aspect, you get to earn money because a portion of this is invested.

3. Consider a Prepaid Health Card

Health insurance can be expensive, especially if you want to extend the coverage to every member of the family. If you want a more affordable alternative, then consider prepaid health card.

Prepaid health cards could range from P500 to P20,000, which varies per insurance company. This amount could be helpful during trips to the emergency room, accidents, sudden hospitalization, or even preventive care. The best part is you can buy and register online, so make sure you get one for your family before you leave.

4. Update Your Philhealth Membership

This is a must. In case of medical emergency, Philhealth could be helpful in lending a hand to cover for your hospital fees. Before you enjoy the benefits, you need to make sure that your status has changed to OFW and that your contributions are updated.

What makes Philhealth special as well is that you can nominate dependents who could receive the same benefits like you do as well as a separate Philhealth coverage of up to 45 days every year.

Nonetheless, benefits are limited to:

  • Legal spouse who is not a Philhealth member
  • Legitimate and illegitimate children who are below 21 years old and are currently unmarried and unemployed
  • Foster child
  • Children above 21 years old but with congenital disability
  • Parents with permanent disability
  • Parents above 60 years of age and are not members of Philhealth.

Don’t forget to update your Member Records by filling out the Member Registration Form and submit it together with proof of relationship (birth certificate, marriage certificate, etc) to the nearest Philhealth office. This way, your family members will enjoy the same benefit even if you are miles away.

You also have the option to pay your contributions in full for one year (or more, depending on you). This way, you won’t forget whether or not you already paid your contributions.

Leave a Reply

Your email address will not be published. Required fields are marked *