Kaiser International Health Group is it reliable?

[makie]

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I'm from IMG and I'd like to clarify some questions about Kaiser.

Many people are comparing Kaiser to other health care companies. Kaiser is different from other (most) health care companies because what Kaiser offers is long term health care, other companies offer only short term. So what's the difference?

Short term health care:

You pay annually (generally) and you'll be covered for the whole year. This is the health care plans that employers normally provide. If you don't get sick and your policy expires, you will no longer be covered not unless you renew it (pay for another year's coverage).

Downside? Short term health care normally will no longer accept people above 60 years of age. If your health care is only from the company, you'll no longer be covered if you're no longer connected to the company. You must also pay annually for coverage.

Long term health care:

Unlike short term health care, long term health care will have you covered for the rest of your life (as long as you have funds). Long term health care's design is different from short term. It is designed to cover or protect you financially on your older years. Older years are normally the time wherein our health starts to deteriorate and ironically, this is the time wherein either you're no longer connected to your previous company (that means no health care) and short term health care companies will no longer cover you.

Downside? Premiums are normally higher than short term health care policies.

Kaiser both have short and long term health care, it offers both. The purpose for this is to provide immediate and future health care coverage. Getting sick is very costly, getting a health care policy is very worth it.

Apart from being a health care, Kaiser (long term) is a 3-in-1 product. It has a health care, insurance, and investment components.

Mechanics:

1.) You'll only pay the premium for only 5 years, yes, for only five years. You have the option to pay either monthly, quarterly, semi-annually, and annually.

2.) Upon payment, you're covered (hospital bills, free check ups including dental concerns, room and board, etc.). You also get an insurance. Just in case something happens to you (accident that results to disabilities or death), your beneficiaries will get financial assistance. Short term health care doesn't have insurance components.

3.) If within paying period (within 5 years) you haven't used the policy, it will start to compound 10% annually. This is where the investment component comes in. 10% annually is a huge amount, banks don't give that much or even just half of it. This is where the long term health care concept comes in. Since your policy will grow 10% annually, it will reach millions in 15-20 years time (or more). You can use that for your health concerns once you reach your retirement age.

Ideally, it is advisable to have both short term and long term health care policies because short term health care will protect you in the present and long term health care will protect you in the future. Keep in mind guys, again, getting sick is very, very costly. Ironically, a health care policy is something that you can't buy or get once you need it. You must get it once you still don't need it.

[istoryamember]

bro naa ka updated list of clinics, hospitals nga partner aning kaiser? sa ilang website murag 3 ra kabook sa Cebu? naa pud ni medical partners diri sa Tacloban? wala man gud sa ilang site

[makie]

Sa Cebu, all major hospitals are accredited except Visayas Community.

[jeshatan]

wala nay kasiguraduhan...

[istoryamember]

^^ ang unsa bro?

[makie]

Walay kasiguraduhan? Yes, at some point its true. Moagree ko.

But regarding Kaiser, there are still risks involved, just like anything else.

*If you put your money in the bank, there is a possibility that the bank will close (look at LBC Bank and other rural banks)
*If you use your money to start a business, there's no guarantee that your business will grow (daghan kaayo negosyo nalugi)
*If you keep it in your closet, it will lose its value through inflation or kawaton ra na sa imong helper, kupiton ra sa imong pares or mga anak

Most common question is, what if mapareho sa CAP ang Kaiser?

[1] Kaiser is different from CAP. Kaiser is health care, CAP is educational plan. The utilization sa educational plans are higher because every year guaranteed nga libo libo ang moeskwela. Tuition fees are increasing year after year, CAP wasn't able to keep step with it. Kaiser's utilization is lesser compared to CAP. Utilization of health care plans are lesser than educational plans.

[2] Sa kadaghan nga nicollapse nga companies, the government now is very strict in regulating these kind of companies (health care, insurance, preneed such as educational, retirement). Companies are being audited regularly and must comply with the requirements. As far as I know, 60% of the premiums paid goes to Kaiser's trust fund and only 40% can be invested (this is where the company earns). Worse case scenario. If Kaiser goes down, naa kay makuha nga at least 60% sa imong kwarta. These things weren't present before. CAP invested 100% of their money mao nayabo.

So going back to "walay kasiguraduhan", here are some scenarios:

1.) Are you certain that you won't get sick? If not, mahal ang magkasakit. If you have health care at least your expenses will be decreased by 70% to 80%.

2.) Funny thing, people insure their assets such as their house and vehicles but they don't get an insurance and health care policies for themselves. What is precious must be insured. Whatever will happen sa balay or sakyanan, at least naay insurance mocover sa gastos. But what if ang tao magkasakit pero walay health care? Worse, madisabled or mamatay pero walay insurance?

This is to emphasize the importance of health care, long term health care that is in contrary sa kasagaran nga short term. Yes, there are risks but isn't it worth it?

The biggest risk is getting sick pero wala nakaandam, walay health care then mogasto ug dako. Worse, moresort sa utang kay walay ikabayad. That's happening to majority of people.

[medwarc]

very informative bro...thanks...

[jdane]

3.) If within paying period (within 5 years) you haven't used the policy, it will start to compound 10% annually. This is where the investment component comes in. 10% annually is a huge amount, banks don't give that much or even just half of it. This is where the long term health care concept comes in. Since your policy will grow 10% annually, it will reach millions in 15-20 years time (or more). You can use that for your health concerns once you reach your retirement age.

Hello TS.
So if within the 1st five years nagamit nako ang policy, dili jud siya ma compounded?
Let's say minor operation lang nya ang nagamit is less than the total premium nga mabayran nako within that 5 years, dili ma compounded ang difference?

Example: Yearly premium = P20,000
Total premium in 5 years = P100,000
Amount utilized w/in 1st 5 years = P40,000
Premium not utilized = P60,000 (dili ni xa ma compounded?)

Thanks daan

[lorenzoleo]

Mas risky jud kung kitay masakit samot pa kitay breadwinner sa family.
Mas risky jud kung kita maoy money making sa family unya ma disabled lang ug kalit simbako or ma wala sa picture, grabe na nga risk sa family.
be certain lang in uncertain times. Mas risky jud kung walay insurance oi, patay jud gastoonon. Goodluck na lang nato sa gasto.
Kasagaran business ma balgiya kay tungud naay ma sakit sa family.

Kwarta, dali ra makitan pero ato health ug life dili na makita kung mawagtang.

[makie]

Hello TS.
So if within the 1st five years nagamit nako ang policy, dili jud siya ma compounded?
Let's say minor operation lang nya ang nagamit is less than the total premium nga mabayran nako within that 5 years, dili ma compounded ang difference?

Example: Yearly premium = P20,000
Total premium in 5 years = P100,000
Amount utilized w/in 1st 5 years = P40,000
Premium not utilized = P60,000 (dili ni xa ma compounded?)

Thanks daan

Thanks for the inquiry. Regarding your concern, if nagamit nimo ang polic within the 5 years paying period, mocompound gihapon siya after 5 years. Here's what will happen actually:

Kaiser is only 5 years to pay and after 5 years, wait ka ug 10 years for it to mature so 15 years tanan. After 15 years, mao ni imong makuha:

[1] Insurance (kay wala nimo nagamit ang plan)
[2] The total amount sa pagcompound 10% annually (10% of insurance, not premium)
[3] 75% of the premium that you paid

So assuming nagamit nimo ang plan withing 5 years, ang imo na lang makuha after the 15th year is the insurance and the total amount sa pagcompound 10% annually which is only [1] and [2].

So for a hypothetical computation, murag ingon ani ang mahitabo:

Premium paid annually: P20T
Total premium paid after 5 years: P100T
Insurance: P35T

After 5 years, the insurance part (P35T) will compound 10% annually which is P3.5T per year so after 10 years, moabot na ug roughly P70T. So after 15 years (5 years paying and 10 years to mature), imong makuha is:

P70T (total sa 10% compound annually) + P35T (insurance) = P105T

If wala nimo nagamit ang plan, it would be like this:

P70T (total sa 10% compound annually) + P35T (insurance) + P75T (75% of what you paid) = P180T

**Sa mga mokuha ug Kaiser, we strongly suggest nga mokuha gyud ug separate short term health care para mamaximize gyud ang plan. Kaiser is designed for long term or para health care during our older years. If di gyud gamiton ang plan, it will reach millions. Dako na kaayo na nga coverage for our health concerns.

I hope this clarified things.