Making sense

I recently found out that a friend of mine underwent an angioplasty to correct four blockages in the blood vessels that supply the cardiac muscles. It's a good thing she didn't have an arrest and the condition was discovered in time to do the procedure. She was up the next day and was discharged, as opposed to an open heart bypass surgery where she would definitely be confined for at least a week. Of course, as with any modern procedure, it cost her a lot of money. If I'm not mistaken, more than P700,000. She did have some discount with PhilHealth, but she still had to cough up, or bleed out the balance. If only she had medical insurance.

Getting insurance really isn't part of the Filipino culture. With several pre-need, educational plan companies going under, including those everyone thought would withstand the ills of the industry, can you blame Juan de la Cruz if getting insurance is not one of his priorities? But it should be. And while life insurance is well accepted by those who could afford it, health, even memorial insurance is not.

Superstition has a lot to do with not getting these plans, particularly the generation before us. Our elders believe that just talking about life, health or the dreaded memorial plans would hasten the event. Which is why they avoid it like the plague. But let's face it, we will all get sick, in one way or another. God forbid we get sick of the dreaded diseases like diabetes, renal failure requiring dialysis, cardiac pathologies, brain dysfunctions like strokes or aneurysms, and of course cancer. These diseases drain the kitty so fast, you won't know what hit you. Even the very rich feel the sting of expenses.

So why not level the playing field a bit with some insurance? There are plans that suit the needs, and capabilities of everyone. Again, part of the Filipino culture is not to spend on anything that he will not immediately benefit from. We'd rather spend on material things, vacations, hobbies, luxuries and the like. Suze Orman, a well known financial guru, said in an interview I had with her that Filipinos should stop buying expensive coffee and start saving up and buying health or medical insurance, along with putting some aside for retirement. She was seen how these things are not at the top of the list of most Filipinos, which is why when the unthinkable strikes, they have nothing to deal with it.

It makes a lot of sense to get health or medical insurance, and even memorial plans. At a time when you feel the world has caved in on you, someone will take care of what has to be done. Isn't that logical than blowing every paycheck on a new phone, a new watch, a new laptop, a new car or even a new house for some? Imagine what my friend could have saved, if she had health insurance. The money she saved could have been used to celebrate her new lease on life. There is nothing wrong with enjoying the present. But it would be good to prepare for the future. Sound old-fashioned, but it makes perfect sense.