Southeast Asian Countries With the Highest Average Medical Debt

Medical debt can considerably burden individuals and families worldwide, particularly in Southeast Asia. As healthcare costs continue to grow, more and more people are struggling with medical debt in the region. This particular region can struggle when it comes to medical bills. Here's what you need to know about it.

Southeast Asian Medical Debt

Debt is common for many people in the region, but it's particularly burdensome for those who experience health issues. Healthcare is often expensive and out of reach for Southeast Asian citizens, leading to debt that can last years. Here's a look at the Southeast Asian countries with the highest average medical debt and explore ways to manage this financial burden.

Indonesia

Indonesia has the highest average medical debt in Southeast Asia, with an estimated average of 31% of annual income spent on healthcare expenses. Certain provinces such as Bali and Java spend a lot more on their healthcare, with an over 180% increase in these provinces. This can be attributed to the low coverage of the country's public health insurance and the absence of comprehensive financial protection schemes. As a result, many Indonesians use their savings or borrow money to pay for medical expenses.

Philippines

The Philippines follows closely behind Indonesia, with an average of 27% of an individual's annual income spent on medical expenses. It's estimated that Filipinos spend about PHP 9,000 (nearly $200) annually on medical bills. While the country's national health insurance program, PhilHealth, aims to make healthcare accessible and affordable for everyone, the reality is that many Filipinos still struggle with covering their medical bills due to the high out-of-pocket costs for hospitalization, medicines, and procedures.

Vietnam

Vietnam has an average medical debt of 22% of its annual income. While the country has made significant progress in expanding health insurance coverage and reducing the burden of healthcare costs, many Vietnamese still face difficulty paying for healthcare services, particularly those in rural areas where healthcare infrastructure is limited.

Malaysia

The average medical debt in Malaysia is around 6% of annual income, which is lower than the other countries on this list but still a significant financial burden for many. The high out-of-pocket expenses, especially for specialist care, and the rising cost of private medical care are some factors contributing to Malaysians' increasing medical debt.

Thailand

In Thailand, the average medical debt is around 4% of annual income, one of the lowest in Southeast Asia. However, with healthcare costs rising rapidly, particularly for chronic diseases and aging-related conditions, many Thais still struggle with medical debt. Additionally, the country faces a significant challenge with debt due to costs incurred by tourists and foreigners.

Tips in Paying Your Medical Bills

Managing medical debt is a significant concern in Southeast Asia, and these countries have some of the highest average medical debts in the region. However, there are ways you can prepare for these medical bills or even be able to pay for them outright. Here are some tips you need to know.

Improve Your Credit Score

The first tip is to improve your credit score. A good credit score will give you access to more financial options and make paying off your medical bills easier. Consider taking out a loan or looking into other financing options to help manage healthcare costs. Moreover, it's important to use the right credit scoring system in your region. This should help you get better terms and interest rates when applying for a loan.

Look Into Health Insurance

Another tip is to look into health insurance. Many countries in Southeast Asia offer public or private health insurance programs that can provide financial protection for medical bills. Make sure to do your research and compare various plans available so that you can choose the best option for your needs.

Seek Financial Assistance

Finally, seeking financial assistance is essential if you are struggling with medical bills. Various foundations and other organizations offer financial aid for those in need. Many hospitals also have charity programs to help you pay for medical expenses. It's worth looking into these options to see if they can help you manage your medical debt.

Medical debt is a massive burden for many people in Southeast Asia, but with the right strategies and resources, it's possible to manage it and ultimately pay off your bills. Make sure to do your research when it comes to health insurance plans and look into other financial assistance options available so that you can manage your medical debt more effectively.