The Philippine Health insurance Corporation is a government agency mandated to implement universal health coverage for all Filipinos. The monthly premium contributions are at the rate of 2.75% computed straight-up based on the salary, with a salary floor of P10,000.00 and a ceiling of P40,000.00. Unlike the Social Security Service (SSS) contribution, the PhilHealth contributions are to be equally shared by the employees and their employer. The table below is the new basis of the computation. These began to take effect on January 1st, 2018.
There are different means on how to compute monthly PhilHealth contribution. This can be configured on the Company Tab, under Setup, Profile, and then under the Government Contributions tab.
Philhealth Computation Option 1: PhilHealth contribution based on basic pay (salary)
- For instance, the employee has a monthly basic salary of P15,000. Following the table above, the monthly premium will be P412.50 (P15,000 X 2.75%), which will be divided by the employee and employer, hence P206.25 each.
Philhealth Computation Option 2: Philhealth contribution based on basic pay, overtime, absent/late and salary adjustment per pay period
- For instance, an employee has a semi-monthly basic pay (salary) of P6,000 plus an overtime pay amounting to P500, less absence amounting to P100. Based on the table above, the premium will be P176 (P6,000 + P500 - P100 = P6,400 X 2.75% = P176), which will be divided by the employee and employer, hence P88 each.
For any further questions or inquiries you may have regarding these computations, please feel free to message us at firstname.lastname@example.org. We look forward to hearing from you.