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Healthcare costs are rising rapidly in the Philippines, creating new financial risks for investors and families. At the UnionBank Market Outlook 2026 Cebu, Oona Insurance joined financial leaders to discuss how medical inflation, private healthcare costs, and cross-border treatment needs are reshaping modern wealth planning strategies.
Cebu-based investors and financial leaders gathered at the UnionBank Market Outlook 2026 Cebu, held at Radisson Blu Hotel Cebu on March 4, to discuss the evolving risks that are reshaping wealth management. One of the key topics was the rising impact of healthcare costs on long-term financial planning.
Organized by UnionBank of the Philippines, the event brought together high-net-worth clients, portfolio managers, and wealth advisors to explore trends affecting investment strategies, asset preservation, and family financial continuity.
A central insight highlighted by EY-Parthenon during the session was the rapid growth of healthcare costs and the increasing burden of out-of-pocket expenses. Total healthcare expenditure in the Philippines has nearly doubled in recent years, reaching around ₱1.4 trillion in 2024, while medical inflation has surged to approximately 19 percent, the fastest in Southeast Asia.
Private healthcare, the preferred choice for affluent families seeking better access to specialists and advanced treatments, carries a significant cost premium. It is approximately 2.5 to 3 times higher than public hospitals. Meanwhile, out-of-pocket spending now accounts for nearly 45 percent of total healthcare costs and is rising by roughly 12 percent annually. This creates a silent but substantial financial pressure on families, even those with significant wealth.
Speaking at the Cebu event, Mylene Ong, Oona’s Group Chief Marketing Officer, emphasized that healthcare risk is no longer a separate concern from wealth planning. A major illness today can trigger sudden liquidity needs, force asset liquidation, and disrupt carefully designed strategies for preserving family wealth and legacy.
“Health protection is now a critical pillar of modern wealth planning,” Ong said. “It ensures that serious medical events do not derail the continuity of your financial plans, your family legacy, or your business interests.”
The discussion also highlighted the growing importance of cross-border healthcare. With more individuals seeking specialized treatment abroad, affluent families require flexible and comprehensive solutions. In response, Oona Insurance introduced two tailored international health protection plans.
Purple Shield is a peso-denominated plan for clients primarily seeking access to leading private hospitals in the Philippines.
Global Shield is a U.S. dollar-denominated plan for globally mobile families who may require treatment across multiple countries.
Both plans aim to protect families from the financial impact of rising medical costs, gaps in coverage, and unexpected health events.
The Cebu Market Outlook 2026 reinforced a clear message for investors. Protecting health is no longer optional. It is an essential component of safeguarding wealth. As medical costs rise and cross-border treatment becomes more common, integrating health protection into wealth strategies helps ensure families maintain financial stability even in the face of unexpected medical challenges.
By participating in the event, Oona Insurance and UnionBank highlighted their shared commitment to helping Cebu-based investors plan holistically for both health and wealth. The goal is to ensure continuity, peace of mind, and long-term financial security.
