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Philippines Restarts Health Insurance Rate Rises

May 19, 2022, 6:40 PM

The Philippines’ health insurance body is to resume previously scheduled contribution rate increases starting with 2022, the body said May 11.

The Philhealth contribution rate is to increase to 4%, from 3%, and the maximum monthly taxable wages to 80,000 Philippine pesos (U.S. $1,532.35), from 70,000, the Philippine Health Insurance Corporation said in an advisory. The new rates and thresholds are to appear in returns and employee information starting with June, but the change is retroactive to Jan. 1, 2022, the corporation said.

Employers and employees must make up the difference for earlier months in 2022 by Dec. 31, ...