PhilHealth’s premium rate soars to 5% in 2024

MANILA, Philippines — The Philippine Health Insurance Corp. (PhilHealth) on Friday said that it will push through with its planned increase in its members’ contributions this year. 

PhilHealth said that the premium rate will increase to 5% coming from the current 4%, affecting individuals whose salaries are ranging from P10,000 to P100,000.

“Kailangan natin ng pondo para matugunan ang ating mga nasimulang magagandang pagbabago sa mga benepisyo ng PhilHealth,” PhilHealth President and Chief Executive Officer Emmanuel Ledesma Jr., said in a press conference.

(We need funds to address the positive changes we have initiated in the benefits of PhilHealth.)

Individuals earning P10,000 will now be required to contribute P500 to PhilHealth, while monthly incomes ranging from P10,000.01 to P99,999.99 will face deductions varying from P500 to P5,000. 

Meanwhile, those earning P100,000 will need to contribute P5,000 monthly.

The PhilHealth chief said that are expecting an additional P17 billion in revenues due to the increased premium rates.

According to Ledesma, the increase is in compliance with the Universal Health Care (UHC) law.

Section 10 of the UHC specifies how a contributor’s premium rate is determined based on their income. 

However, it could be recalled that President Ferdinand Marcos Jr. suspended the premium rate and income ceiling hike in 2023, as Filipinos suffered economic challenges caused by the COVID-19 pandemic.

If Marcos once again suspends the premium hike this year, Ledesma said that the state-run health insurer would comply and assured that PhilHealth’s mandated benefits would not be affected. 

"Once we get the directive or instruction, we will immediately comply,” Ledesma said. 

“If PBBM freezes it, that will be minus P17 billion for the year…I don't think that anything will be affected, all the plans will push through as expected," he added.