Amid Calls for PhilHealth Contribution Rate Reduction, Proposal Study is Happening
PHILHEALTH CONTRIBUTION RATE – The Philippine Health Insurance Corp. confirmed that they are studying the possible reduction of the contribution rates.
Truth be told that getting insured under the policies offered by private health insurance companies can be costly. Not everyone can afford these policies no matter how wide or good their coverage can be. Thus, countless Filipinos rely on the Philippine Health Insurance Corp. for their health insurance.
More popularly called PhilHealth, the Philippine Health Insurance Corp. is in the service of the Filipino people for decades now since 1995. It was created under the mandate of providing social health insurance to all Filipinos in 15 years’ time.
To be insured under the Philippine Health Insurance Corp., a member must submit a PhilHeallth monthly contribution. It can also be done quarterly. Aside from serving as a valid ID, a membership to the state insurer also provides the following membership:
- In-patient benefits
- Outpatient benefits
- Z Benefits
- SDG Related
There are several PhilHealth benefits thus, it is countless Filipinos’ safety net against unforeseen medical emergencies or health problems. However, truth be told that many of the members of the state insurer now are struggling to maintain an updated account. The PhilHealth monthly contribution 2024 rates are becoming more challenging to meet amid the high inflation rate in the country.
Amid the current rates set by the Philippine Health Insurance Corp. for the contribution of the members to maintain an active account, there are calls for the reduction of the rates. The state insurer’s president and Chief-Executive-Officer (CEO), Emmanuel Ledesma, previously promised during a Senate hearing to study the possibility of reducing the rates.
Recently, PhilHealth confirmed that the possible reduction of the monthly contribution rates is being studied. The state-insurer’s spokesperson, Dr. Israel Pargas, admitted that a thorough study is needed and they must look into the actual impact in case the fund of the state entity is moved.
In case the proposed reduction on the monthly contribution rates of the members gets a green light from the state insurer, the reduction in the rates will be felt by the members in the last quarter of 2024 or the start of 2025. Meanwhile, amid the calls for the reduction of the rates, the state insurer assured that the benefits for the members can continue to expand.