Health & Wellness medical insurance

Okay I looked up;
Caritas Health Shield Inc.
Clinica Caritas

BRANCH NAME:
CHSI DUMAGUETE

LOCATION:
CARITAS HEALTH BLDG. 2/F NORHT ROAD NATIONAL HIGHWAY DARO DUMAGUETE CITY NEGROS ORIENTAL

CONTACT #
(035) 225-9589 (035) 422-9547 (0917) 878-7537 (0998) 841-2590

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Here for those with pre existing conditions I noticed the following;

1. Expanded PRIME Plus Healthcare Program
   A value for money plan which extends sufficient health cover for the insured and family members and also protects from premium increases over a 5 year pay plan. With a guaranteed 5% increment from the 7th or 11th year onwards, this affordable scheme covers pre existing illnesses and provides additional health benefits during the expanded period of coverage.

Caritas Health Shield Insurance Premium and Coverage
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This is their PRODUCTS PACKAGE:
(Fill in to obtain a quote)
But I noticed that the products mentioned in the above link do not match up in namesake with this following link...

Caritas Health Shield, Inc. Proposal
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Attached is a .pdf quote for coverage, you will need something like Adobe Acrobat installed to read the .pdf (free download via a google search)

I 'assumed' Ultra 2+1 is for 2x Adults and 1x Child, (although I could be on another planet with that line of thinking) but I went for it anyways to try and obtain a quote to share here so others may gain an idea/alternative to Philhealth...
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I am confused by the CONTRACT PRICE and then the INSTALLMENTS below the thick black line. Does it mean you pay the contract price PLUS installment(s); it seems it could NOT be either contract price OR installments as the Annual installment is 50% of the contract price. Maybe it is just my age!

 

That makes two of us...

Yearly = 147,790 php
Twice Yearly = 79,810 php every 6mths = 159,620 php per year
Quarterly = 41,385 every 4mths = 165,540 php per year

I assume;
TWO Year Contract = 2x 147,790 php = 295,580 php
PAY Ca$h = 266,222 php saving 29,358 php

Sound right to you?

 

Something is not right here Brian

 

Trying to work it out Jack...

Contract Price I assume is how much it is for 2 Years. (If you pay 2x Annual payments of 147,790 php)
CONTRACT PRICE 295,580 php

Paying Cash in Advance (NO Monthly payments) you pay 2 Years in advance. (being the minimum time agreement for this plan)
SPOT CASH 266,222 php

If you pay Yearly for 2 Years.
ANNUAL 147,790 php

If you every 6 months for 2 Years.
SEMI-ANNUAL 79,810 php

If you pay every 3 months for 2 Years.
QUARTERLY 41,385 php

So the incentive is to pay in advance, you get a bonus saving of 29,358 php

That is how I read into it not including the footnote;
*Except for Spot Cash, add P200 Policy Fee on first payment.

 

IF I avail full coverage with what options are available I assume this is how it works;

Brian's Benefits;
Medical Expense Benefits for 3 years 540,000
Membership Privileges:
Out Patient 75,780
APE 14,850
Preventive Healthcare 6,500
Dental Care 8,400
Dependents Consult 6,000
Total Membership Privileges for 3 years 111,530

* Total Benefits for 3 years 651,530

All for a Total Contract Price of only 295,580

* Wait what?
Sounds like if I pay for TWO Years in Advance I get 3 Years of cover?

 

Sorry mate you have totally lost me there, too many . ( Dots) in the wrong place s methinks

 

Look better now mate? Sorry still trying to adjust to the centavo thing, currency here still stumps me from time to time especially when they advertise prices. Often I do not know if centavo or million...

 

I am sure you are correct Brian ..... the CONTRACT is for two years (I had not got that part) and you can save money by paying that upfront in cash ... or you can pay every year, 6 months or 3 months. Then the third year is free.

Only thing that bothers me is the paying for two years in advance and then the third year for free makes me wonder if they are intending to be around for long ... are they a VERY established Company? Also, I note they have not spelled 'vaginal' correctly (don't know why I noticed that one!*) and would not expect that of a professional company involved in medical insurance.

* Must have been looking into it too deeply.

 

That's pretty normal for total cost to be reduced if paying all up front. My car insurance works the same way. If I pay in one payment, it's less then when on a payment plan.

With the computer gear I sell you get 5 years of support cheaper if you buy it upfront. If you buy the standard 3 years, years 4 and 5 go up. It encourages you to commit and provides income immediately to the company instead of in the future.