‘60% of Pinoy families cannot pay P10,000 hospital bill’

MANILA, Philippines — Six out of 10 Filipino households cannot cover a P10,000 hospital bill, forcing them to prioritize saving money for health emergencies, according to a study of over 1,500 families nationwide by Boston Consulting Group (BCG).

These families, BCG found out, are forced to borrow money or use a health maintenance organization (HMO) membership to cover their hospital bills.

The study titled The Filipino Family showed that fewer Filipino families can outright cover their hospital costs as the bill increases. Only nine percent of Filipino families can cover a hospital bill of up to P25,000, to P50,000 and P100,000.

Only six percent of households can shoulder outright a hospital bill of up to P300,000 while only four percent can pay more than P300,000 in health costs, according to the study.

The study found that seven in 10 Filipino households identified “being financially prepared for health emergencies” as their top priorities, surpassing savings, education and home ownership.

“Families told us repeatedly that getting sick isn’t just a health crisis – it’s a potential financial catastrophe that could undo years of progress,” said Anthony Oundjian, senior partner at BCG Manila and co-author of the report.

“One emergency surgery, one extended hospital stay and suddenly you’re in debt for years. This fear shapes everything from how families save to what they’re willing to sacrifice,” Oundjian added.

The other priorities of Filipino families surveyed include building a strong savings buffer (68 percent) and improving the quality of their daily meals (64 percent), according to the report.

“Taken together, these priorities show how families place their energy where the risks feel most imminent. The focus is not on distant ambitions but on the shocks that can unsettle a household overnight – an illness, an empty wallet, a bare table,” the report read.

The study also discovered six primary family structures in the country, each with distinct financial patterns and decision-making dynamics.

The most common structure is the dual-earner nuclear families wherein both partners work and split household and financial responsibilities based on their respective capacities and schedules.

Only four percent of the families surveyed responded that their structure is dual income, no kids. In a DINK family, couples enjoy flexibility and build stability before undertaking any major commitments, the study explained.