aseanbriefing.com (18.02.2021) The House of Representatives in the Philippines have passed House Bill No. 8461 (HB 8461) which seeks to authorize the President to suspend the premium contribution hike to the Philippine Health Insurance Corporation (PhilHealth), in addition to House Bill No. 8512 (HB 8512), which provides the President the power to defer the scheduled hike in contributions to the Social Security System (SSS). Both PhilHealth and the SSS were mandated by existing laws to increase their premium rates in 2021. However, the onset of the pandemic has drawn opposition from Filipinos and businesses for any increases in premium rates. As such, the government hopes the suspension would provide tax relief for businesses, workers, and the self-employed as the country continues to reel from the economic impact caused by the virus.
The House of Representatives in the Philippines have passed House Bill No. 8461 (HB 8461) which seeks to authorize the President to suspend the premium contribution hike to the Philippine Health Insurance Corporation (PhilHealth), in addition to House Bill No. 8512 (HB 8512), which provides the President the power to defer the scheduled hike in contributions to the Social Security System (SSS). Both PhilHealth and the SSS were mandated by existing laws to increase their premium rates in 2021. However, the onset of the pandemic has drawn opposition from Filipinos and businesses for any increases in premium rates. As such, the government hopes the suspension would provide tax relief for businesses, workers, and the self-employed as the country continues to reel from the economic impact caused by the virus.