The Philippine Health Insurance Corporation (PhilHealth) has confirmed that the contribution rate will remain at 4% for 2023. This means employees and employers can breathe a sigh of relief as their financial burdens ease slightly.
Here's what you need to know:
No Increase: Instead of the previously planned hike to 4.5%, the contribution rate stays put at 4%. This applies to both employees and their employers.
Income Ceiling Unchanged: The income ceiling of P80,000 also remains the same. This means only income up to P80,000 is subject to PhilHealth contributions.
Reason for the Pause: This decision came after President Ferdinand Marcos Jr. ordered the suspension of the increase due to the ongoing economic challenges brought about by the pandemic.
What this means for you:
More Money in Your Pocket: You'll contribute slightly less towards PhilHealth each month, freeing up some extra cash for essential needs.
Relief for Businesses: Employers also benefit from the lower contribution rate, reducing their overall operating costs.
Continued Healthcare Coverage: Rest assured, your PhilHealth coverage remains unaffected. You'll still have access to the corporation's healthcare benefits and services.
Looking ahead:
While the rate stays at 4% for now, PhilHealth has proposed gradual increases in the future. Stay informed by checking official PhilHealth updates and announcements for any changes.
(PhilHealth Contribution Rate Stays at 4% for 2023)