PhilHealth imposes late payment penalty
THE Philippine Health Insurance Corp. (PhilHealth) announced the re-imposition of the two percent monthly interest on delinquent payments that it implemented when it took over the administration of what was then Medicare for the employed sector.
PhilHealth relaxed the implementation of the 2 percent interest in 2002 when it issued Circular 15 on the settlement of arrears by delinquent, under-remitting and non-remitting employers. However, the PhilHealth Board, through Resolution 1669-2012, reiterated the Corporation’s authority to impose interest on delayed and non-remittance of employees’ premiums.
The PhilHealth contribution of employees must be remitted on or before the 10th calendar day following the month for which it is due and applicable. If the 10th falls on a weekend or a holiday, payment deadline shall be the next working day.
The 2 percent monthly interest will be imposed on premium contributions paid after the PhilHealth circular re-imposing it took effect—which is April 12, 2013—and on succeeding remittances made after the deadline.
The penalty interest applies to all employers with arrears, including those of sea-based overseas Filipino workers and household helps. Arrears must be settled at the PhilHealth office.
Regular payments may, however, be made at any PhilHealth office, including local health insurances offices and business centers throughout the region, and the PhilHealth Express inside Ayala Center and SM City Cebu.
Employers can also pay through accredited collecting agents, such as banks, LBC branches and the bills payment facility of SM. On a special note, employers who have accounts with the Bank of the Philippine Islands can remit PhilHealth premiums online through the Express Link facility.
