Insurance firm BPI AIA, a partnership between the Bank of the Philippine Islands (BPI) and AIA Philippines, is advocating awareness about health protection solutions specifically designed for small and medium enterprises (SMEs).
Called Health Essentials, the solution enables SMEs to provide their respective employees with medical assistance benefits similar to those extended by health maintenance organizations (HMOs) but at a manageable cost.
“Employers have a duty to nurture their workforce to attract and maintain the best talents and ensure business continuity. Being able to provide a comprehensive benefit right away promotes SME competitiveness, and in the long term, improves productivity and delivers great results that create a positive financial impact to the organization,” said BPI AIA CEO Surendra Menon. “We are encouraging and enabling our customers to live healthier, so they can live longer and better lives as we promised.”
Health Essentials offers flexibility to its policyholders as it features a “no-cash-out” facility for the availment of medical benefits from a wide network of providers or a reimbursement of their expenses if conditions allow. BPI AIA can also create a tailor-fit plan for the SME, enabling an easy mixing and matching of benefits to determine which combinations would fit one’s needs.
In-patient benefits cover the following:
- room and board and use of Intensive Care Unit (ICU)
- special hospital services, such as use of operating room, X-Ray, laboratory exams, and medicines
- surgeon’s fees, if any
- attending physician’s fee for daily hospital visits
Optional out-patient benefits cover the following:
- consultations, X-Ray, laboratory, and diagnostic exams
- basic Annual Physical Examination (APE)
- select dental benefits
- maternity benefits including pre- and post-natal consultations and coverage for normal or caesarian delivery, miscarriage or pregnancy complications
- prescribed medicines up to a specified limit per year
In addition, there is a Financial Assistance Benefit for all insured members paid as a lump sum amount if the insured dies of natural or accidental causes. Benefits may be extended to the dependents of Principal Employees, be they married, single, or even single parents.
On top of all this, SME clients can receive expert advice on employee benefits and business insurance, providing holistic solutions based on employees’ needs and the company’s budget.
To avail the Health Essentials solution, SMEs are encouraged to get in touch via the BPI AIA website. For BPI’s SME clients, the bank should be able to endorse them to BPI AIA’s Employee Benefits Specialists.