Starting January 2020 the employed members of PhilHealth will have to pay higher monthly premiums. According to PhilHealth’s Circular No. 2020-005, the premium rate will be increased to 3% from the previous 2.75%. Hereafter, it will be adjusted to increments of 0.5% every year until 2025.
The increase is said to help sustain the National Health Insurance Fund; also, to enhance the different health programs of the government. Furthermore, the health agency aims to aid more Filipinos who don’t have the capacity to work and can’t afford medical services.
To compute for your PhilHealth monthly premium, please refer to the formula below:
The Monthly Basic Salary (MBS) is your fixed base rate. It does not include your sales commission, overtime pay and allowances; nor your 13th-month pay and bonuses, or other gratuity payment. In addition, deductions incurred due to tardiness and under time as well as leave(s) without pay and absences will also be excluded.
While, Premium Rate is the rate implemented for the year. For example, for 2020 the premium rate is at 3%. So, simply multiply your monthly basic salary with 3% to get your Monthly Premium.
Computation for Employed
- If your monthly basic salary is PHP 15,000, then check the new premium rate table for the rate
- For 2020, the premium rate is at 3% (or, 0.03)
- PHP 15,000 x 0.03 = PHP 450.00 (MBS x premium rate = your monthly premium)
- Your total premium is PHP 450.00 so divide that by 2 to get your share
- PHP 450 / 2 = PHP 225
- PHP 225 is your share and the same amount will also be paid by your employer
In short, you pay half of the amount and the other half is paid by your employer.
PhilHealth Premium for Self-Earning
For self-earning members like freelancers or online home-based workers, the monthly premiums shall be computed straight based on your monthly income. And, you will have to pay it in whole. A proof of income will be required, though. Below is the list of proof income that can be used:
- Financial books or records
- Latest BIR income tax return (ITR)
- Duly notarized affidavit of income declaration
Then, payments can be made monthly. But, members can opt to pay by quarter, or bi-annual as well as annual.