AXA Philippines launches family plan that covers expenses related to COVID-19

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The life insurance company AXA Philippines is implementing a family health plan that covers pandemic diseases such as coronavirus disease 2019 (COVID-19). This will include hospitalization, prescribed tests and vaccine complications, but not the vaccines themselves.

The plan, called Access to Health Care (HCA), will hit the market next week. “There will be a wide variety of types of plans. You can choose the HCA Prime Comprehensive Health Plan, or the HCA Lite Complementary Plan, for those who wish to supplement their existing health coverage, ”said Grace M. Mallabo, Director of the Protection and Health Segment of AXA Philippines, during the presentation. product launch. Wednesday.

Each type of plan has five different benefit options ranging from 500,000 to 5 million pesos, and will provide access to cashless provisions for hospitalization, surgery, outpatient care, emergency care, care needs. preventive measures and teleconsultation.

“Forty-eight percent of medical expenses in the Philippines are paid directly, so these funds come from the hands of the family itself or are borrowed from other relatives or the bank, which always puts pressure on the family.” , said Rahul Hora, Chairman and CEO of AXA Philippines. “This is what we want to change.

HCA Lite, for example, can increase employer-provided medical plans, which, on average, cover around P 150,000 to P 250,000 in expenses. The cost of an illness may very well be as high as 1 million pesos, Ms Mallabo said, and this is where HCA Lite can come in handy.

Those who benefit from the plan will benefit beyond retirement, with medical coverage up to age 75 and a longevity health fund that comes into effect from age 76. – Brontë H. Lacsamana


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