CARD promotes and facilitates easy, optional, group enrollment for its clients in the national health Microinsurance program, PhilHealth. The scheme provides a loan to cover the US$26 annual premium so that clients may pay for their coverage in small, weekly installments and thereby be assured of continuing coverage.
The premium is US$26 per year and is paid through a loan at 24% interest over 50 weeks (as of June 2010). The resulting payment of about $.60 per week is added to the member’s regular business loan and savings deposit payment, which is made to a single CARD Account Officer who visits the clients’ meetings on a weekly basis.
CARD gives loans to cover premium costs for a PhilHealth plan; when CARD reaches certain thresholds they receive a 9.7% discount from PhilHealth (must enroll 85% of groups of 4,000 and above).
CARD also offers a Preferred health provider discount program in certain areas to provide discounts on charges for CARD clients and family members. Using “Healthy Pinoy” cards, these clients are entitled to discounts of 10 to 40 percent on primary and diagnostic healthcare services offered by local, private physicians, hospitals, laboratories and midwives. Clients are not required to use the service, but may do so at will without CARD’s direct involvement.
EMERGING LESSONS: Offering health microinsurance may lead to enhanced client growth, satisfaction and retention of microfinance clients.
