HOW TO INVEST IN LEVEL 1: KAISER AND FAQS

Many smart Pinoy investors right now in the Philippines took Kaiser Long Term Healthcare as their first level of investment. But still some readers are skeptical or doubtful about it.

Some say it’s the first time they heard about it. Others are concerned that it will crash like other insurance companies in the Philippines because it is unstable and the benefits seem too good to be true.

To dispel the mystery surrounding Kaiser, here are some Frequently Asked Questions (FAQs) about it:

Q1: It’s my first time to hear about Kaiser. What is it?

Kaiser is a Philippines-based Health Maintenance Organization (HMO)approved and accredited by the Department of Health (DOH) since July 26, 2004. A HMO provides health care to its members through networks of doctors and hospitals. HMOs are popular alternatives to traditional health care plans because they usually cost less.

Below is a document (as of December 2012) from the DOH website (http://bhfs.doh.gov.ph/images/listing/HMO/dec2012.pdf) showing Kaiser as one of accredited HMOs in the Philippines.

Q2: Is Kaiser secure and financially stable? Is it legal?

Kaiser is registered with the Philippines’ Securities and Exchange Commission (SEC) as a health care provider and broker for other health care companies. Kaiser has an authorized capitalization of Php 160,000,000. The investment and funds are managed by the top leading financial institutions in the industry.

Below is a quick search done on the SEC website (http://iregister.sec.gov.ph/MainServlet?param=search) on registered companies. However to access further information SEC will require a fee.

Q3: Who are the persons behind Kaiser?

Below are Kaiser’s Board of Directors:

Chairman: Dr. Tito Torralba

• Medical Director, University of Santo Tomas Hospital
• Chief, Section of Rheumatology, Makati Medical Center
• Chief, UST Hospital Joint and Bone Center

President and CEO: Dr. Ramon B. Abragan, Jr.

• Head Executive Assistant, Department of Health
• Consultant to the Secretary, Department of Health
• Board of Medicine, Professional Regulation Commission

Member: Dr. Florentino C. Doble

• Surgeon, Administrator, Professor, Philanthropist, Father
• Medical Center Chief II – East Avenue Medical Center
• Chief Medical Professional Staff II – EAMC

Member: Dr. Gil C. Fernandez

• Diplomate – Philippine Board of Plastic Surgery
• Chairman, Surgical Mission – Rotary Club of the Manila
• Awardee, Ten Outstanding Son of Dagupan City

Member: Dr. Jonathan Salvador

• Philippine Association of Training Officers in Surgery
• Philippine Society of General Surgeons
• Society of Apothecaries of London

Member: Atty. Tranquil Gervacio S. Salvador III

• Dean of the Law School of Pamantasan ng Lungsod ng Pasay
• Charter President of the Rotary Club of Malate Manila
• President, Integrated Bar of the Philippines – Quezon City

Corporate Secretary: Atty. Tranquil Gervacio S. Salvador III

Asst. Corporate Sec.: Atty. Raymond Yap

dfdsfsdfsdfsdfsdfsdfs

Q4: Where is the Kaiser Main Office located?

Kaiser is located at: King’s Court Bldg 1, Chino Roces Ave, Makati City 1200, Philippines.

Q5: I am currently employed. Me and my family are already covered by my employer or company’s healthcare plan. Why do I still need to get Kaiser healthcare?

You and your family’s coverage by your employer’s healthcare plan is only provided as long as you are employed by your company. As soon as you resign, get terminated or retire your company’s healthcare plan benefit also stops.

Q6: I am currently living and working overseas and the government here provides healthcare. Why will I still get Kaiser?

Kaiser will give you healthcare coverage every time you go home to the Philippines. Overseas governments won’t shoulder your healthcare expenses if you are in the Philippines.

Q7: If a Kaiser plan holder dies, is his K100,000 plan transferable to any of his beneficiaries? How much will his beneficiary get?

If the plan has approved term insurance coverage, the plan is transferable to the primary beneficiary.

Kaiser shall pay the principal amount of the term insurance equivalent to the member’s long-term care benefit Php 100,000. If the cause of death is an accident, additional Php 100,000 shall be paid. It works like a term life / accidental death and  dismemberment insurance.

Q8: How long do I need to pay the premiums? How much do I need to pay per month?

Kaiser plans are only payable for 7 years. After that there’s nothing to pay.

The lowest premium per month is Php 2,647 plus policy fee of Php 500 per year. Of course the lower the premiums also the lower healthcare benefit coverage.

Q9: What if I am very healthy and did not get sick so I haven’t use my Kaiser healthcare at all after paying my premiums? Will I get something back?

Your Kaiser Plan matures in 20 years. If you haven’t use your Kaiser healthcare benefits at all, you have the option to get the maturity value of your plan. For example, if you have K-45 (with total premiums paid of Php 185,288), you can get the maturity value of Php 524,776. That is more than double your money.

Take note that once you’ve withdrawn the maturity value. You’ll also lose your healthcare coverage. Unused Kaiser in this regard works as a retirement fund.

Q10: I have just bought a Kaiser healthcare plan. Can I now avail of the Annual Physical and Dental Examination?

The member can avail of these two outpatient benefits after paying fully paying the first year’s premium.

For example, if his mode of payment is annual, then he can avail immediately after receiving his member’s kit containing his ID, benefit and dental card, provider directory, guide book and your schedule of benefits with the contract provisions.

Q11: Do I need to use Kaiser’s network of providers (i.e. hospitals, doctors, dentists)? Is it only providers in Metro Manila? Can you give me a list of providers?

Yes, you must stay within the Kaiser network at least during the accumulation or Paying Period. However, on the 8th year onwards, you can avail of your medical needs using your own set of providers and then file for reimbursement within your allowable health benefit.

Kaiser’s network of healthcare providers is all over the Philippines. The providers are too many to provide a list here but you’ll be provided a booklet of accredited providers once you get a plan. Popular hospitals areMakati Medical, St. Lukes and Asian Medical among many others.

Q12: Does Kaiser provide healthcare benefits to a particular organization/company? Can you please give one?

Yes. Kaiser provides companies and organizations. One of the notable ones is the Philippine House of Representatives. Please see document below.

Getting a Kaiser healthcare plan will always be a win-win situation no matter what happens to you.

• If you get sick then you’ll get healthcare expense coverage.
• If you don’t get sick and haven’t used Kaiser, then you can have the option to get the maturity value which is more than double of what you’ve paid for.
• If you suddenly die or get disabled, Kaiser will give your beneficiary insurance benefits

In short, Kaiser is healthcare+insurance+retirement fund!

So, how do you get a Kaiser health plan?

As an IMG member, I can send you the requirements and forms needed. I’ll be happy to assist you on how to go about doing it.

If you are interested and have further questions, just send me a personal message here: >>>>http://goo.gl/qEzxxT

Invest in your Financial Education first leads you to your Financial Freedom!

 PS1 :  For more information about Kaiser please read my previous post      here: >>>http://goo.gl/BWvv28 ,   you can also visit the Kaiser  website: >>>>>http://www.kaiserhealthgroup.com/

PS2: KAISER International Healthgroup, Inc. is not in anyway affiliated with Kaiser Permanente