Millennials banked on to spur HMO recovery

The Generation Y, colloquially known as the millennials, is expected to help prop up the health maintenance organization (HMO) sector into recovery as health protection tops their priority list.

- LOUISE MAUREEN SIMEON

Results of the latest Wellness Index Survey of HMO provider Philhealth Care Inc. (PhilCare) showed that millennials, or those aged 27 to 42, put health benefits on top of their work priority list.

PhilCare president and CEO Jaeger Tanco said the younger generation could significantly contribute to the sector's recovery especially as they account for about 40 percent of the country's workforce.

The survey showed that health benefits such as HMO and insurance topped millennials' work priorities. This is followed by job satisfaction, monetary benefits, and ease of travel.

"Right now, there is more utilization from the older generation, but there are also more millennials and even Gen Zs that are coming in which could balance it out," Tanco said.