Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Medical coverage subsidy rules for gov’t employees approved

PIXABAY

THE Department of Budget and Management (DBM) has approved the guidelines and regulations governing a subsidy that will allow government employees to obtain their own health insurance coverage.

Circular No. 2024-6, which was first issued on Dec. 6, covers the grant of yearly medical allowances of up to P7,000 to civilian government personnel.

The allowances were authorized by Executive Order No. 64, issued on Aug. 2.

“Starting in 2025, they will be able to receive a medical allowance to help them obtain HMO (coverage) for their health-related expenses or costs,” Budget Secretary Amenah F. Pangandaman said in a statement on Thursday.

The subsidy will go towards paying for health maintenance organization (HMO)-type benefits, the DBM said.

It added that the subsidy applies to all civilian government personnel in National Government agencies, including state universities and colleges and government-owned and -controlled corporations not covered by Republic Act No. 10149 and Executive Order No. 150.

“The Medical Allowance may be granted in the form of HMO-type product coverage, which could be availed of by either government agencies concerned or their respective employees’ organizations/groups,” the DBM said.

The DBM said the subsidy can be issued in cash to those seeking to take on or renew HMO-type benefits and to those who paid for their own medical expenses, subject to conditions. — Aubrey Rose A. Inosante

    You May Also Like

    Finance

    The cost of your morning cup of coffee could soon increase, after the price of arabica beans—the most widely produced variety—soared to a record...

    Finance

    Concerns are growing over Asda’s financial stability as the UK supermarket giant faces a £900 million repayment to its former owner, Walmart, by 2028....

    Finance

    BAE Systems, the UK’s largest defence company, is set to recruit a record 2,400 apprentices, undergraduates, and graduates next year, marking a significant milestone...

    Stock Markets

    Federico R. Lopez, the Chairman and CEO of the First Philippine Holdings Corporation, during his keynote message. Amid the undeniable reality of climate change,...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Captain Of Success. All Rights Reserved.