As healthcare expenses in the Philippines continue to rise at a pace outstripping household income growth, insurance providers are introducing more adaptable and comprehensive health coverage options.
Oona Insurance, a Singapore-headquartered firm, is among those expanding its offerings to address the evolving needs of Filipino consumers and insurance professionals.
Oona Insurance has rolled out two new health insurance products in the Philippine market.
The first, Global Shield, is designed for Filipinos who are internationally mobile, providing up to S$2 million in worldwide coverage.
The second, Purple Shield, is a peso-based plan offering up to PHP5 million in coverage for families seeking healthcare within the country.
“Rising medical costs and changing lifestyles demand solutions that go beyond the basics, offering quality, choice, and confidence,” said Abhishek Bhatia, founder and group CEO of Oona Insurance, as reported by Philstar.
He added that the local market is prepared for a new approach to health protection, moving away from traditional, standardised policies.
Recent research highlights the importance of managing healthcare costs for financial security among Filipinos.
According to Manulife’s 2024 Asia Care Survey, 82% of Filipino respondents identified rising healthcare expenses as a major concern, a figure that increases to 86% among those aged 50 to 60.
The survey also found that 44.7% of health expenditures in the country are paid out-of-pocket, amounting to $9 billion in 2022, with projections estimating this will reach $13 billion by 2028.
Healthcare costs in the Philippines are expected to rise by 18.3% in 2025, according to WTW’s 2025 Global Medical Trends Survey. This rate is among the highest in Asia-Pacific and continues a trend of double-digit increases over recent years.
The study attributes the rise to increased use of health services, higher hospital and clinic charges, professional fees, and a growing incidence of disease.
Oona’s new products are part of a broader shift toward integrating digital technology and preventive health measures into insurance.
The company’s platform allows members to obtain instant quotes, complete policy issuance on the same day, track claims in real time, and onboard without paper forms. Overseas claims can be processed online to facilitate faster reimbursements.
The insurer has also partnered with MediLink and Doctor Anywhere, enabling cashless access to over 650 hospitals and 750 doctors across the Philippines.
In addition to hospitalisation, the plans include preventive services such as check-ups, vaccinations, telemedicine, and mental health support.
“Health protection must be holistic in order to provide everyday peace of mind for Filipino families,” said Ninoy Rollan, CEO of Oona Philippines, as reported by Philstar.
