While we are all busy with the COVID-19 news, we may not be aware of the huge hike in Philhealth contributions. In it’s Circular No. 2019-0009 last year, premium rates will be increased significantly over the next 5 years. See below table for the new rate.
Last time, OFW Philhealth contribution is around PHP2400 only per year. With the current rate, if you earn around PHP60,000 and above monthly, your contribution will be PHP1,800 per month or PHP21,600 in a year. That’s a huge increase. The ceiling of PHP60,000 will increase by PHP10,000 per year, till it reach maximum of PHP100,000 in the next 5 years. By that time, maximum contribution is now at PHP60,000 per year.
Supposedly it will be implemented this year, but everybody are busy with the current pandemic. They don’t have guidelines yet on how they will implement this in Singapore. Considering that we are not required to pay Philhealth contribution before, I wonder how are they going to oblige us to pay and how are we going to pay the contribution.
The purpose of the hike is to fund the Universal Health Care Law. It will give all Filipino access to healthcare support, without worrying about the bills. However, considering that there are millions of Filipinos on the poverty sector who will not contribute on the fund, the workforce and OFW’s are the one who will shoulder most of the cost.
UHC law is good. This is what our kababayan need most. We may not see the importance of this now because we are currently on our prime and working, but soon on our golden years, this will help us a lot. I’m in an insurance business and I know the value of healthcare and how expensive it is to get one. I just wish that they postpone the implementation till the pandemic is over. I know for sure, there are lots of OFW’s who are in need of financial resources now to support their families affected by the lockdown.
What’s your thoughts on this? Feel free to comment below.