Filipinos will have to tighten their belts as the Philippine Health Insurance Corp. (Philhealth) announced another premium hike by next year.
In the Laging Handa public briefing on Monday, 12 December, Philhealth Senior Manager Rey Balena said the premium adjustment is part of the gradual adjustments based on the Universal Health Care Act of 2019.
Balena said that based on the Universal Health Care Act, the state insurer will be implementing a 4.5 percent increase.
"If we had 4 percent this year, we will have an adjustment of 4.5 percent by next year. We will apply it to their monthly income," he said.
Balena said the premium adjustment will be utilized to sustain the current level of benefits to its members.
"Whatever we are receiving now, we can still enjoy it next year. That is the guarantee of the Universal Health Care Law — it will not regress," he said.
"The additional contributions will be used for that as the law stated that it will gradually adjust until 2025," he added.
Under the Universal Health Care Act, the rates are scheduled to increase from 2.75 percent in 2019 to 5 percent in 2025.
This year, PhilHealth implemented the 4 percent increase in monthly premium contributions, which has been delayed for the past two years due to the ongoing Covid-19 pandemic.
