PhilHealth To Raise Monthly Contributions

Staring this month, January 2013, the Philippine Health Insurance Corporation or PhilHealth will be raising the amount of your monthly contributions. Salary Bracket Old Contribution New Contribution Change Self-employed 100 150 50% Earning 8,000 and below 50 87.5 75% Earning 8,001 - 34,995 1.25 % of Salary 1.25 % of Salary 0% Earning 35,000 up 375 437.5 17% If you are one of the million employees who will be affected by the company's action, check the table below to see how much increase will be added to your current contributions. PhilHealth increased it's members monthly contributions because it has added more to the scope of its benefits including heart illness for children (enlarged heart), cervical cancer, artificial leg and heart bypass. Personally, PhilHealth is one of the greatest benefits you can get from the government. It helps protect your assets from sudden health emergencies that may force you to withdraw your savings and investments. However, businesses see it as a bad news because it will incur additional operational cost to them and might cause some of them to close. If your employer is the one who pays for your contribution, then you might be affected by this news. How about you? How do you see this action taken by PhilHealth? Is it more beneficial to us or just additional expense? From Wikipedia: The Philippine Health Insurance Corporation (PhilHealth) was created in 1995 to create a universal health coverage for the Philippines. It is a tax-exempt, government-owned and government-controlled corporation (GOCC) of the Philippines, and is attached to the Department of Health. It states its goal as insuring a sustainable national health insurance program for all. You may check more information about PhilHealth at www.philhealth.gov.ph or via their facebook fanpage or twitter but I guess they are not as active as you in social-media. Related Good Reads for Today Learn about Mutual Fund Investment Top 10 Mutual Funds in the Philippines Top 10 Philippine Financial Trends

Mark Hugh Neri

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