PhilHealth Contribution Table 2024
For 2024, your PhilHealth contributions are based on your monthly salary. If you earn below ₱10,000, you’ll contribute 3%, and if your salary ranges from ₱10,000 to ₱69,999, the rate is 3.5%. For higher earners making ₱70,000 or more, the rate jumps to 5%. As a self-employed person, you’ll also see changes; earnings below ₱25,000 have a 3% rate, while incomes of ₱25,000 and above attract a 5% contribution. Make sure your payroll is up-to-date to stay compliant. This straightforward guide will further clarify the benefits and implications for you.
Key Takeaways
- Contribution rates for 2024 include 3% for salaries below ₱10,000, 3.5% for ₱10,000 to ₱69,999, and 5% for ₱70,000 and above.
- Self-employed individuals earning below ₱25,000 contribute at 3%, and those earning ₱25,000 or more at 5%.
- The maximum salary cap for calculating contributions is set at ₱100,000 monthly.
- Employers are required to update payroll systems to comply with the new rates to ensure accurate deductions.
- These changes aim to enhance healthcare benefits and expand coverage for members.
PhilHealth Contribution Table
| Year | Monthly basic salary | Premium rate | Monthly premium |
|---|---|---|---|
| 2021 | ₱10,000.00 | 3.50% | ₱350.00 |
| ₱10,000.01 to ₱69,999.99 | ₱350.00 to ₱2,450.00 | ||
| ₱70,000.00 | ₱2,450.00 | ||
| 2022 | ₱10,000.00 | 4.00% | ₱400.00 |
| ₱10,000.01 to ₱79,999.99 | ₱400.00 to ₱3,200.00 | ||
| ₱80,000.00 | ₱3,200.00 | ||
| 2023 | ₱10,000.00 | 4.00% | ₱400.00 |
| ₱10,000.01 to ₱79,999.99 | ₱400.00 to ₱3,200.00 | ||
| ₱80,000.00 | ₱3,200.00 | ||
| 2024 to 2025 | ₱10,000.00 | 5.00% | ₱500.00 |
| ₱10,000.01 to ₱99,999.99 | ₱500.00 to ₱5,000.00 | ||
| ₱100,000.00 | ₱5,000.00 |
Note: The PhilHeath contribution rate has been increased to 5% in the year 2024.
Understanding PhilHealth Contributions
PhilHealth contributions provide critical financial support for your healthcare needs, drawing funds from employees, employers, and the government. As a PhilHealth member, you’re part of the Philippine Health Insurance Corporation system, designed to help cover your medical expenses.
The contribution rates are directly tied to your monthly basic salary, ensuring that payments are equitable. In 2024, the rates will vary depending on your income, with an income ceiling set at ₱100,000. This means, if you earn more, you’ll contribute more, but also have access to enhanced benefits.
Additionally, premium contributions have seen a gradual increase to keep up with the rising costs of healthcare services. Conveniently, you can manage your contributions through online payment platforms like GCash, simplifying the process.
Employee Contribution Breakdown
Your contribution to PhilHealth is calculated based on your monthly salary, guaranteeing that everyone pays a fair share. The updated PhilHealth contribution table for 2024 outlines new rates for employees across different salary brackets.
If you’re earning below ₱10,000, your rate is 3%. For those making between ₱10,000 to ₱69,999, it rises to 3.5%. And if your monthly salary hits ₱70,000 or more, you’ll contribute at a rate of 5%.
These contributions are crucial for funding healthcare benefits under the national health insurance program. Payroll systems must be updated to ensure compliance with these new rates. This Premium Contribution structure helps maintain the integrity and sustainability of Updated PhilHealth services.
Self-Employed Rate Adjustments
Starting in 2024, if you’re self-employed, you’ll need to adjust to a new contribution rate of 5% of your monthly income. This is an important adjustment from the previous rates.
If your monthly income is below P25,000, the rate will be slightly lower at 3%. However, for those earning P25,000 and above, the 5% rate applies. This change is part of the updated PhilHealth contribution table and reflects an overall increase in contribution rates for the year 2024.
It’s essential that you comply with these new rates to maintain your health coverage. Make sure to update your payment schedules accordingly to avoid any lapses in your PhilHealth benefits.
Employer Compliance Strategies
After familiarizing yourself with the new self-employed rates,
it’s important for employers to update their payroll systems according to the 2024 PhilHealth contribution adjustments.
Ensuring compliance with the new rates, based on specific salary brackets, is essential to meet your legal obligations and avoid penalties.
You’ll need to clearly communicate these changes to your employees to explain how the adjustments will affect their take-home pay.
This transparency fosters trust and helps maintain morale within your team.
By accurately implementing these changes in your payroll deductions, you support the sustainability of the national health insurance program, benefiting the entire community.
Impact on Healthcare Access
The increase in PhilHealth contributions to 5% in 2024 will improve healthcare access for millions, including indigent families and senior citizens. This adjustment in contribution rates, mandated by the Universal Health Care Act, guarantees that the monthly contributions you make directly enhance benefits and expand benefit packages.
You’re not just contributing more; you’re investing in a robust healthcare system that provides more extensive coverage for both in-patient and outpatient services, from maternity care to severe conditions. As contributions rise, the fund’s ability to support those most in need grows, ensuring that every member, particularly the disadvantaged and elderly, can access necessary medical services without the burden of excessive costs.
Conclusion
As you navigate the changes in the PhilHealth contribution table for 2024, remember that each payment is a stepping stone towards a healthier tomorrow.
Whether you’re an employee, self-employed, or an employer, adapting to these adjustments is important.
It’s not just about compliance; it’s about contributing to a pool that guarantees everyone can dip into the waters of healthcare when needed.
Stay informed, stay prepared, and let’s all paddle together in this river of health security.
Atty. Maria Victoria is a certified public accountant with a Master’s degree in taxation from the University of the Philippines. She has extensive experience in taxation and has worked with various government agencies and private companies. She is a recognized expert in income tax, payroll tax, and other tax-related matters.