THE SENATE on Tuesday approved on third and final reading a bill that seeks to cut Philippine Health Insurance (PhilHealth) premiums to 3.25% next year from 5% this year under the Universal Healthcare Act.
Nineteen senators unanimously approved Senate Bill No. 2620, which originally sought to lower the premium to 4% this year.
The measure would set PhilHealth premium contribution at 3.25% this year for those with a monthly income of P10,000 to 50,000, with incremental increases of 0.25% each year.
The agency started hiking its monthly contribution rate in 2019 so that it can sustain the benefits given to its members. The contribution rates this year will stay at 5% from 2.75% five years ago.
PhilHealth spent P75.8 billion for its benefit pay-outs last year, almost half of the amount paid by state insurer in 2022 at P143 billion and P140 billion in 2021, PhilHealth Executive Vice President Eli Dindo D. Santos told congressmen in May. — John Victor D. Ordoñez
