A majority of Filipino families cannot afford even modest medical expenses without going into debt, a new study released by the Boston Consulting Group (BCG) showed.

In its nationwide study The Filipino Family, BCG found that 64 percent of households would be unable to pay a P10,000 hospital bill out of pocket, forcing them to borrow money or depend on health insurance for relief.

The finding underscores the severe financial vulnerability of Filipino families, for whom a single illness can trigger long-term hardship and derail years of gradual progress.

“Families told us repeatedly that getting sick isn’t just a health crisis – it’s a potential financial catastrophe that could undo years of progress,” Anthony Oundjian, Managing Director and Senior Partner at BCG Manila and co-author of the report, said.

“One emergency surgery, one extended hospital stay, and suddenly you’re in debt for years. This fear shapes everything from how families save to what they’re willing to sacrifice,” he went on.

As such, the study revealed that seven in ten families now rank financial preparedness for health emergencies as their top priority, surpassing savings, education, and homeownership, signaling how medical costs dominate household anxieties.

According to BCG, it surveyed 1,515 families nationwide, representing 6,387 individuals across different regions, and said the inability to absorb even basic medical expenses cuts across all income levels and household structures.

The report underscored that Filipino households continue to act as collective decision-makers, with health, nutrition, and savings framed not as individual goals but as shared responsibilities meant to protect the entire family unit.

“To truly understand the needs of Filipino people, businesses and policymakers must look beyond individual consumers and see the Filipino family as a decision-making unit. This report provides an unprecedented, data-driven lens into what drives behavior, priorities, and choices across households nationwide,” Oundjian said.

Women, the study noted, typically oversee household spending and savings, while men tend to handle bigger financial decisions such as investments. Yet both roles converge when families confront the threat of medical expenses.

BCG said these anxieties are amplified for household types carrying heavier burdens, such as solo parents, sandwich families caring for both children and elderly parents, and single-earner homes with little flexibility for emergencies.

The report also highlighted the continued influence of Overseas Filipino Workers (OFWs), more than half of whom remain active in household decisions and contribute up to three-fourths of the family’s income through remittances—funds that often serve as buffers during medical crises.

Julian Cua, the managing director and partner at BCG Manila and co-author of the study, said families must be understood as economic systems shaped by shared care and collective survival. 

“Filipino households are complex, collaborative ecosystems. Understanding them requires moving beyond the individual lens. Whether it’s a purchase, a savings goal, or a family dream, the Filipino approach is always ‘ours’, never just ‘mine’,” he said.

Lance Katigbak, the principal at BCG and co-author, said the findings challenge businesses and policymakers to rethink outdated models that ignore how families actually make financial decisions. 

“This study is an invitation to close the gap between what we know and what we do,” he said. 

“We all know families make decisions together. We’ve seen it in our own homes. The question is: why don’t our businesses, our products, our policies operate that way?”