A majority of Filipinos, or 64%, cannot shoulder a P10,000 medical bill out-of-pocket without borrowing money or relying on a health maintenance organization (HMO), according to a new study by global management consulting firm Boston Consulting Group (BCG).
BCG’s Filipino Family Study, released Tuesday, surveyed 1,515 families nationwide.
The report found that financial strain emerges even at lower thresholds: 20% of respondents said they would likely borrow for a bill under P1,000, 28 percent for P5,000, and 16 percent for P10,000.
Grounded in this reality, BCG said seven out of ten families identified health security as their top concern, surpassing savings, education, and home ownership.
“We at BCG think that it’s partly driven by the pandemic,” Lance Katigbak, principal at BCG, said during the study’s launch.
“Not because health is a new priority for us, but because so many Filipinos within that one event experienced that situation where everyone had to pool together money to pay for that hospital bill.”
BCG noted that just one emergency surgery or extended hospital stay could already push most Filipino families into years of debt.
The study also highlighted a mismatch between HMO coverage and what families truly prioritize during health emergencies. Mr. Katigbak said many Filipino adults are likely to delay their own care, even with the same symptoms, to prioritize children and elderly relatives.
Coverage gaps remain stark: only 15% of children are covered by HMOs, compared with 27% of seniors and 47% of adults.
The Filipino Family Study continues BCG’s earlier report, The Filipino Dream, which focused on micro, small, and medium enterprises (MSMEs). — Edg Adrian A. Eva