Healthcare Management in Retirement
Medical costs are the biggest threat to retirement savings. Here's how to manage healthcare expenses as a senior citizen.
Healthcare costs in retirement
Healthcare is typically the largest expense for Filipino retirees. Out-of-pocket health spending accounts for 42.7% of total healthcare costs in the Philippines. Without proper coverage, a single hospitalization can wipe out years of savings.
Maximizing PhilHealth as a retiree
As a retiree, you can maintain PhilHealth coverage:
- •Lifetime member: If you've contributed for 120 months, you qualify for lifetime coverage
- •Senior citizen PhilHealth: Automatic coverage under the Universal Health Care Act
- •Konsulta package: Free outpatient primary care at accredited health centers
- •New 2025 benefits: Expanded coverage for heart disease, kidney transplant, dental, and emergency care
Building a healthcare fund
Beyond PhilHealth, set aside dedicated funds for medical expenses not covered by insurance. A healthcare fund of P200,000–P500,000 provides a buffer for emergencies, medications, and procedures that PhilHealth doesn't fully cover.
Tip
Keep your healthcare fund in a high-yield savings account (not invested). You need it liquid and accessible for emergencies.
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