HMO Benefits And Their Importance To The Employee

HMO Benefits And Their Importance To The Employee.  While a lot can be said about being in business for yourself - either via freelancing or owning your own business - being a regular employee does have certain advantages.  And the foremost advantage is being covered by health insurance.
While a lot can be said about being in business for yourself - either via freelancing or owning your own business - being a regular employee does have certain advantages.

And the foremost advantage is being covered by health insurance.

Having health insurance is so important that it's almost impossible to overstate it's benefits.

For one, the ability of illness to wipeout your finances and get you into debt is so great that it's almost peerless.

Second, illness not only costs money, but can prevent you from earning more. That's true even for regular employees.

Even though being ill should not be taken against you during performance appraisals (which can determine your salary increase), it doesn't do you any favors when being compared with peers who have produced more simply because they were still there when you were out sick.

But the benefits of health insurance doesn't stop at simply having it. Here's a look at the three most important benefits of HMO to employees.

1. Emergencies


We can't help it. Emergencies happen - even when you don't have cash on you.

Ans who's got time to nitpick about which hospital and/or doctor will charge less when you're already ill?

If you've got a good HMO provider, you'll be able to walk into any decent hospital and not have to shell out cash. It's like paying with a credit card that someone else pays for.

(For hugely expensive illnesses, your HMO will typically cover only up to a certain amount. However, that's still a huge "discount" on your total bill, which you would otherwise have to pay by yourself.)

2. Reimbursements


Some HMO's allow you to reimburse medical expenses (ex: treatments, consultations with non-accredited doctors, medicines). The reimbursable amount can vary greatly (Php2000, Php5000, Php10,000 or more; or any amount in between).

For the busy employee, this can sometimes get ignored. However it's not only very useful but also very useable. Vaccines and medicines are typically reimbursable. And so are vitamins.

(And taking vitamins is much cheaper and more convenient than getting sick and then taking "advantage" of the free consultation and reimbursable medicines. Your HMO provider may need a doctor's prescription for the reimbursement. Although it's an additional step, some doctors will prescribe vitamins for you if you explain the symptoms/feelings/etc. that makes you want to take vitamins.)

3. Dependents


Not only do you get free healthcare (at least for consultations and annual check-ups) but your family does too!

It's an understated benefit, but one of the most important ones. Consultations, annual physical exams, and some laboratory tests are not only free for you, but for your dependents as well.

There's no need to put off going to the doctor nor to self-medicate. You can let paid experts do their thing and save yourself from worrying about your family's health.


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photo credit: slackware via photopin cc

2 comments:

  1. Truly professional, Exactly what i was looking for. Will bookmark this blog for future posts . Cheers:) Source: Vision Finance

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  2. HMO for employees are important for them especially on emergencies. HMO companies are really of big help for employees.

    ReplyDelete