PhilHealth premium hiked

Filipinos will have to tighten their belts some more as the Philippine Health Insurance Corp. announced another premium hike effective next year.

Philhealth senior manager Rey Balena said the premium adjustment is part of the gradual adjustments based on the Universal Health Care Act of 2019, under which 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.

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.