The health insurance gap in the Philippines
Health expenses continue to grow every year. It is estimated that this expense will grow at an average of 8 percent year-on-year. As of 2017, total health expenditure in the Philippines was estimated at P684 billion with P373 billion of it covered through out-of-pocket, meaning uninsured. It is projected that by 2020, the Philippines will be Southeast Asia’s second-largest pharmaceutical market with revenues estimated at $10.8 billion. In terms of specific illnesses, the treatment costs continue to grow. As of 2018, the cost for cancer treatment could total P5.66 million; for stroke, the cost could be P2.93 million; and for myocardial infarction, it could be P1.92 million.