KWIK.INSURE, a local insurance tech company, is making health maintenance organization (HMO) coverage more accessible to micro, small and medium enterprises (MSME) by offering low-cost plans with monthly payment options.

The company started in 2020 as a one-stop digital marketplace for various lines of insurance but has recently narrowed its focus to HMOs.

“What we discovered was that the MSME market — the retail market, meaning individuals and families — was not really being catered to,” Kwin.insure’s Chief Executive Officer Hamilton C. Angluben said in an interview.

“And so, now we’re focusing more on KwikCare, which is really an HMO designed for individuals, families and small businesses,” he added.

KwikCare Health Insurance plans by Kwik.insure are underwritten by PhilhealthCare, Inc. and start at P995.

The entry-level plan covers inpatient, outpatient and emergency services, with a maximum benefit of P50,000 per illness or accident.

It also covers doctor-prescribed tests and consultations, up to the maximum benefit limit.

KwikCare members have access to 1,800 contracted hospitals and clinics nationwide, as well as more than 50,000 doctors and physicians, Mr. Angluben said.

“So really, it’s pretty much the same as what is being offered to large corporations,” he said.

“The main difference is that it’s so much more affordable because one, the price is lower — at least 20% lower than anything available in the market. Second, we are the only one offering a monthly mode of payment,” he added.

KwikCare plans also have no lock-in period, Mr. Angluben said, providing greater access to HMO coverage for underserved sectors such as MSMEs, professionals and the self-employed.

“This segment is really underserved. And sadly, just over 6 million Filipinos have HMO coverage — that’s roughly about 5% of our population,” he pointed out.

Mr. Angluben added that access to low-cost HMO coverage could help supplement the Philippine Health Insurance Corp. (PhilHealth), the state-owned health insurer.

A 2023 report by the Philippine Institute for Development Studies (PIDS) said that while the national average support value is 55.83%, many PhilHealth members, particularly those in underserved sectors, are covered for only 40% or less, resulting in higher out-of-pocket expenses.

The study was based on PhilHealth data from 2018 to 2021, along with auxiliary datasets from the Department of Health and other sources.

“It’s our current reality that there is a gap… and really, we’re doing our best to make HMO affordable to as many Filipinos as possible,” Mr. Angluben said.

To make HMO coverage more attainable for lower-income groups, Kwik.insure is developing a health insurance plan that costs below P400, to be launched by year-end.

He added that the company is also seeking distribution partners such as e-wallets and payment gateways to improve visibility and accessibility across various markets. — Edg Adrian A. Eva