Tax Notes

Suspension of PhilHealth contribution hike for 2021

The Philippine Health Insurance Corp. (PhilHealth) has suspended the increase in members’ monthly premiums for the year 2021 in response to the directive of managing the impact of the Covid-19 pandemic. The deferment is an interim arrangement until Senate Bill 1966, seeking suspension of such increase, is passed into a law.

To date, PhilHealth will continue to collect contributions using the three percent premium rate, wherein those with monthly basic salary of P10,000 and below will pay a fixed rate of P300 per month and those with monthly basic of P60,000 and above will pay a fixed rate of P1,800.

Under the Universal Health Care Law and reiterated in PhilHealth Circular 2020-005, effective Jan. 1, 2021, those with monthly basic salary of P10,000 and below will pay a fixed rate of P350 per month while those with monthly basic salary of P70,000 and above will pay a fixed rate of P2,450 per month. Further, the premium rate will be increased to 3.5 percent.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants

 

As published in SunStar Cebu, dated 13 January 2021