My wife signed me up for Philhealth today. She was able to sign me up for 3 years at 300p per month X 36 (10,800). It would have cost 20op a month X 36 (7,200) but they asked her if my monthly income was more than 25,000p a month and she said yes so another 100 more a month. A friend signed up yesterday and was never asked that question. Go figure. Still, beats the 17,000 a year beginning the July 1 rate so if you are going to sign up cheaper to do it before July 1. My wife and my child will be covered under my plan in January for free, she has her own coverage until then. Note: this is not a suggestion that everyone should sign up for Philhealth. Higher cost, lower coverage now.
Did she do this in the main office in clay town or the one in Robinson, and what kind of papers/pictures ect. are required ??
Main offic, copy of both sides of iCard and their philhealth form with signature. 1 X 1 passport photo but can add that to the card later because she didn't one but got my card.
What if you are living off an investment fund so you have no income except what you choose to withdraw from the fund each month? You may draw 50,000 pesos a month most months or skip a month and draw nothing. Its already your money. So what income would you declare?
I would say if you don't pay income tax on the money don't declare it as income. I wouldn't even ask at Philhealth as they are almost certainly going to consider any money you receive per month as "income"...even if it is not legally considered income.
I appreciate they would give me an answer. If I ask my gf how much money I should give her each month she will also give me an answer. If I ask the guy selling sunglasses what a fair price is he will also give me an answer. But none of those answers will help me to establish if I am getting the best possible advice. That's what I come to this forum for, the best possible advice from all my wise and experienced peers.
For Philhealth I would tell them zero. Not only is investment income not Earned Income, it is not (I assume) any kind of income gained in the Philippines. You are living off of your savings for Philhealth purposes. (my opinion, no facts to link to)
The best advice I can give, IS, "Never take financial advice from someone that has less money than you do." (only a joke)
I would agree. One investment option that generates income and that is not taxable is the Roth IRA. With the traditional IRA taxes are paid at your current rate on withdrawals. Pensions are also taxable. If you buy the annuity with pretax money, then the entire balance will be taxable. If you use after-tax funds, however, then you'll be taxed only on the earnings. If you cash out a deferred annuity in a lump sum, then you'll have to pay income taxes on all of the earnings higher than your original investment. Essentially if you have to file an income tax form you have income. I wonder how the PhilHealth would know one way or the other if taxes aren't paid in the Philippines. That said in many countries to get a retiree type of visa, don't have to show some kind of income?
