The Philippines House of Representatives passed House Bill’s No. 8461 and 8512 which authorizes the President to suspend the premium contribution hikes for social security programs. The contribution rate for the SSS was supposed to increase from the current 12 percent to 13 percent, but this has now been suspended.
The suspension pertains to the premiums for Philippine Health Insurance Corporation (PhilHealth) and the Social Security System (SSS). The government had planned to increase the premium rate to 3.5 per cent but instead will remain at the three per cent rate.
To know more details read the original article published in Asean Briefing here.
Image Credits: prod.modernhealthcare.com
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