UMVA has learned that the Philippine Health Insurance Corp. will keep its contribution rate steady while pushing to broaden benefits for members amid soaring living costs.
Despite the nationwide energy crunch and the ripple effects of the Middle East conflict, the insurer announced it will not lower the 5% contribution rate set for this year. The decision aims to safeguard a growing pool of services that can ease the financial strain on households.
“Our focus is on expanding benefit payments and coverage because people really feel the increase in prices, especially with medicine,” the agency’s chief executive declared, emphasizing a commitment to shield members from escalating health expenses.
The contribution ceiling, capped at a monthly salary of ₱100,000, was lifted from 4% in the previous year. The 5% rate is anchored in law, leaving little room for reduction without legislative change.
While other government bodies roll out relief packages to temper the economic blow, the health insurer’s strategy hinges on delivering more comprehensive coverage rather than trimming contributions.
Financially, the agency faces a stark reversal, posting a net loss of ₱103.06 billion last year after enjoying a ₱64.3 billion profit the year before, underscoring the fiscal pressures driving its policy choices.
