EconomyForex

PhilHealth contribution hike suspended

1 Mins read

Philippine President Ferdinand R. Marcos, Jr.’s office has suspended the scheduled increase in public health insurance contributions this year as prices continue to spiral amid a coronavirus pandemic.

The Philippine Health Insurance Corporation (PhilHealth) was supposed to increase the premium rate to 4.5% from 4% under the Universal Health Care Act, according to a copy of a memorandum signed by Executive Secretary Lucas P. Bersamin.

The presidential palace also suspended the increase in PhilHealth income ceiling to P90,000 from P80,000. In the memo, Mr. Bersamin cited socioeconomic challenges brought about by the pandemic.

There’s a need to “provide financial relief to our countrymen amidst these difficult times,” he said. Under the law, the premium rate should increase by 0.5% yearly starting from 3% in 2020 until it hits 5%.

Party-list Rep. Arlene D. Brosas earlier proposed changes to the Universal Health Care Act to remove automatic premium increases. — Kyle Aristophere T. Atienza

Related posts
EconomyForex

Samsung Care+ Premium is the perfect addition to make household investments last

3 Mins read
Samsung ensures your TVs and appliances stay at their best with extended protection and proactive, expert care As premium devices become essentials…
EconomyForex

Cash remittances hit 7-month high at $3.18 billion in July

2 Mins read
PHILIPPINE STAR/ MIGUEL DE GUZMAN By Katherine K. Chan FILIPINOS ABROAD sent more money home in July, hitting a seven-month high as…
EconomyForex

Peso to rise as Fed woes drag dollar

4 Mins read
BW FILE PHOTO THE PHILIPPINE PESO is expected to end the year stronger against the US dollar as the greenback remains under…
Power your team with InHype
[mc4wp_form id="17"]

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *