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The Philippine Health Insurance Corporation (PhilHealth) is a tax-exempt, government-owned and controlled corporation (GOCC) of the Philippines that provides health insurance to the country. It was created on 1995 to implement universal health coverage in the Philippines, and is attached to the Department of Health. On August 4, 1969, Republic ...
Federal social insurance taxes are imposed on employers [35] and employees, [36] ordinarily consisting of a tax of 12.4% of wages up to an annual wage maximum ($118,500 in wages, for a maximum contribution of $14,694 in 2016) for Social Security and a tax of 2.9% (half imposed on employer and half withheld from the employee's pay) of all wages ...
The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
Article 99 of the Labor Code of the Philippines stipulates that an employer may go over but never below minimum wage. Paying below the minimum wage is illegal. [10] The Regional Tripartite Wages and Productivity Boards is the body that sets the amount for the minimum wage. In the Philippines, the minimum wage of a worker depends on where he works.
Employers pay for half of their employees' health insurance contributions, while self-employed workers pay the entire contribution themselves. [83] Approximately 90% of the population is covered by a statutory health insurance plan, which provides a standardized level of coverage through any one of approximately 100 public sickness funds.
The Government Service Insurance System (Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a Filipino government-owned and controlled corporation (GOCC) in the Philippines aimed at government employees. Created by Commonwealth Act No. 186 and Republic Act No. 8291 (GSIS Act of 1997), GSIS is a social insurance ...
National health insurance (NHI), sometimes called statutory health insurance (SHI), is a system of health insurance that insures a national population against the costs of health care. It may be administered by the public sector, the private sector, or a combination of both. Funding mechanisms vary with the particular program and country.
2014 operation subsidies and program funds that GOCCs received from the national government. GOCCs receive from the government "subsidies" and "program funds". [6] Subsidies cover the day-to-day operations of the GOCCs when revenues are insufficient while program funds are given to profitable GOCCs to pay for a specific program or project.