Philippine Health Insurance Corporation, commonly called PhilHealth, issued the memorandum circular 20170024adjusting the premium contributions of the employed sector to sustain the National Health Insurance
Program (NHIP). Accordingly, the adjustment is necessary for the various enhancements to program benefits
introduced in recent years and to further come up with sustained benefits to effectively respond to the growing
health care financing needs of all members.
Revised premium contributions
Effective the applicable month of January 2018, the monthly premium contributions shall be at the rate of 2.75%
computed straight based on the monthly basic salary, with a salary floor of Php 10,000 and a ceiling of Php
40,000.00, to be equally shared by the employees and their respective employer. Those who are earning above
Php 40,000.00, the contribution shall be 550 both for employee and employer (total of 1,100/mo). With the
removal of the salary brackets, computation shall be based on the following table:
Basic Monthly Salary x 2.75%
Monthly Premium
Personal Share
Employer Share
Php 10,000 and below
Php 275.00
Php 137.50
Php 137.50
Php 10,000.01 to Php 39,999.99
Php 275.02 to Php
1,099.99
Php 137.51 to Php
549.99
Php 137.51 to Php
549.99
Php 40,000 and above
Php 1,100.00
Php 550.00
Php 550.00
New BIR Income Tax Rates, from TRAIN Tax Reform (2018-2022)
BRACKET
GROSS INCOME PER YEAR
INCOME TAX RATE
1
P250,000 and below
0%
2
Above P250,000 to P400,000
20% of the excess over P250,000
3
Above P400,000 to P800,000
P30,000 + 25% of the excess over P400,000
4
Above P800,000 to P2,000,000
P130,000 + 30% of the excess over P800,000
5
Above P2,000,000 to P8,000,000
P490,000 + 32% of the excess over P2,000,000
6
Above P8,000,000
P2,410,000 + 35% of the excess over P8,000,000
GSIS, as designed in its charter, is a social insurance institution under a defined benefit scheme. As such it insures its members,
against the occurrence of certain contingencies (events such as separation from the service, retirement, disability, or death) in
exchange for their monthly premium contributions.
A premium contribution refers to the amount payable to GSIS by the members (personal share) and government agencies
or employers (government share) to which they belong.
Section 5 (a) of RA 8291 provides that “it shall be mandatory for the member and the employer to pay the monthly contributions
specified in the following schedule:”
Percentage of Monthly Compensation Payable by:
Monthly Compensation
Member
Employer
I. Maximum Average Monthly
Compensation (AMC) Limit and
Below
9%
12%
II. Over the Maximum AMC LimitUp to Maximum AMC Limit- In
excess of the AMC Limit
9%
12%
Further, members of the judiciary and constitutional commissioners shall pay three percent (3%) of their monthly compensation as
personal share, and their employers a corresponding three percent (3%) share for their life insurance coverage.
Section 5 (b) also provides that “the employer shall include in its annual appropriation the necessary amounts for its share of the
contributions …plus any additional premiums that may be required …”
February 25, 2021 - Thursday | 11:48 AM