As the new year of 2014 ushers in, unexpected out of pocket expenses and traditional contributions also push up. Already discussed in a separate post was the effective increase in employer and employee
contributions in the SSS this January.
Now here’s another. The membership with, and coverage by, the Philippine Health Insurance Corporation (PhilHealth) will cost a bit higher this year, too.
Members of PhilHealth will start to pay higher contributions this month, following the rate hike which took effect the first day of the year.
But while employed members will be required to pay P200 as a monthly contribution compared with last year’s P175, the premium will be equally shared by the employer and the employee.
Individual paying members either self-employed and voluntary members, though, will pay the whole premium of P200.
On a yearly basis, the annual premium will be P2,400 for individual paying members earning a monthly income of P25K and below.
For those with income beyond P25,000 the annual contribution is P3,500.
The increase on member and employer contribution should be of no surprise as PhilHealth announced the premium jack up as early as October of 2013. (PNA)
THIS ARTICLE IS RELATED TO insurance