Are You An Employee Or Employer? Why You Should Care More About Tax-less HMOs
Last year, the Bureau of Internal Revenue released a memo taxing health card premiums or HMOs of at least 6 million workers, to which Anakalusugan responded with a petition to revoke it. As an employee, how would it affect you and why should you care about the matter?
- HMOs are already part of the P90,000 tax-free privilege of an employee listed under the de minimis benefits. Taxing health card premiums would burden both employers and employees, resulting in higher operations cost and lower take-home pay.
- HMOs serve to augment PhilHealth since the latter does not cover all health care problems, such as regular check-ups. Therefore, it is the private sector paying for the government’s gaps.
- Employees or the working class pay the highest taxes while benefiting the least.
- The Tax Reform for Acceleration and Inclusion Act (TRAIN) Law aims to benefit more poor Filipinos, but the burden might mostly affect the average income tax payers.
- There are no existing exemptions for employees similar to senior citizen or student discounts.
HMO coverage is effective in helping alleviate the working class’ burden. There must be a law that would ensure these premiums will remain tax-free. Anakalusugan, given a chance to join the legislature, fully intends to pursue this.
Anakalusugan is a Movement to build a Healthier Philippines – BE PART OF ANAKALUSUGAN! Join us!