President Ferdinand R. Marcos Jr. on Wednesday said he will decide “very soon” on the implementation of the Philippine Health Insurance Corp.’s (PhilHealth) 5-percent premium rate increase.

“It’s still under study but we’ll come to a conclusion very very soon,” Marcos said in a media interview before leaving the country for his visit to Canberra, Australia, when asked if he is in favor of the increase in PhilHealth’s contributions.

Marcos said he is still assessing the possible benefits of the premium hike, adding that he may support it if it is “justifiable.”

“It’s really a cost benefit analysis and PhilHealth has been expanding its services and trying to reach more people and trying to engage more people,” he said.

“So, kung meron benepisyo naman (if there is really a benefit), then, if we can justify the increase, then we’ll do it. But if we cannot, then we won’t. Ganun lang ka simple ‘yun (That’s how simple it is) It’s just a very straightforward cost benefit analysis,” Marcos added.

PhilHealth on Feb. 14 vowed to enhance their services and patients’ benefit package.

On Feb. 23, PhilHealth president and chief executive officer Emmanuel Ledesma Jr. said the Office of the President “pose[s] no objection” to the 5-percent premium rate increase implemented in January this year.

Malacañang, however, said the PhilHealth’s contribution hike is “still ongoing” to make sure that any increase will be advantageous to the members.

Republic Act 11223 or the Universal Health Care Law mandates the increase in the PhilHealth contribution rate to increments of 0.5 percent every year starting in 2021 until it reaches 5 percent from 2024 to 2025.

Marcos previously suspended PhilHealth’s increase in premium rate and incoming ceiling for the calendar year 2023. (PNA)