With a monthly premium contribution hike from 3% to 4%, the Philippine Health Insurance Corp. (PhilHealth) hopes to collect P205 billion in 2022.
Rey Balea, senior manager of the PhilHealth Corporate Communication Department, told GMA News’ Unang Balita that the additional payment will help members maintain their benefits.
“Kung atin pong itutuloy itong 4% na ito at 80,000 per month ay nakatalaga tayong makakolekta ng kabuuang P205 billion sa taong ito,” he said.
(If we continue with this 4% and 80,000 per month, we will collect a total of P205 billion this year.)
According to Balea, P185 billion of the entire collection will be used to pay out benefits this year.
“Kung ibabawas natin yung ating projected benefit payout sa taong ito na P185 billion, ay meron tayo na malaki pa na surplus at yan ay magbibigay kumpiyansa sa mga kababayan natin magpapatuloy yung ating benepisyo sa pangmatagalan,” he added.
(If we reduce our projected benefit payout this year to P185 billion, we still have a large surplus, giving our countrymen confidence that our benefits will continue in the long run.)
According to PhilHealth, the monthly premium payment has been increased to 4% for 2022 as provided by the Universal Health Care (UHC) Law.
PhilHealth expects to collect P206B with 2022 premium hike
The increase will take effect in January 2022 and be collected in June.
The 4% premium rate indicates that anyone earning less than P10,000 must pay a monthly payment to PhilHealth of P400.00.
Those earning more than P10,000 but less than P80,000 must pay a higher monthly premium ranging from P400 to P3,200, while those making more than P80,000 must pay a P3,200 flat rate.
In June 2020, PhilHealth said Tuesday it sees to have a fund deficit by 2024 based on the current COVID-19 scenario in the country.
During a Joint Congressional Oversight Committee on Universal Health Care (UHC), former PhilHealth President Ricardo Morales said that the state insurer projects a P40.7 billion for COVID-19 financing it has to cover.
“This is what it will cost PhilHealth to respond to the COVID-19 pandemic for the entire year from February 2020 to January 2021,” Morales said.
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