State pension fund Government Service Insurance System (GSIS) has partnered with Maxicare Healthcare Corp. to offer government workers zero-interest financing for healthcare coverage, allowing them to spread premium payments over 12 months.
The Maxicare deal is the first under GSIS’ G-HEALTH program, which will finance HMO and health insurance premiums through 12-month loans at 0% interest.
The scheme is designed to help government employees use the medical allowance provided under Executive Orders Nos. 64 and 95 without having to pay premiums in a lump sum.
Members will be able to browse, compare and enroll in plans offered by accredited healthcare providers through the GSIS Touch mobile application. GSIS will advance the premium for the selected plan, with members repaying the amount in monthly installments.
“Quality healthcare should be within every government employee’s reach. Through G-HEALTH, we are making health insurance more affordable by allowing members to pay for their HMO coverage over time without interest, while maximizing the value of their Medical Allowance,” GSIS president and general manager Wick Veloso said.
GSIS said it plans to sign agreements with more healthcare providers to broaden the range of plans available to members.
The pension fund will act as program administrator and financing intermediary, while participating providers will remain responsible for medical services, claims processing and benefits administration.
About 214,000 regular GSIS members are expected to benefit from the initial rollout. Eligible dependents may also be enrolled under the program.
