Responsibility for Payment of Premiums.
Section 6
SEC. 6. Responsibility for Payment of Premiums. - For all the insurance benefits provided in the preceding sections, the national government of the Republic of the Philippines shall appropriate annually and include in the General Appropriations Act the total annual premiums based on the actual number of local officials covered under Section One hereof and as certified by the Department of Local Government. The annual premiums, unless later on adjusted in accordance with the provisions of this section, shall be Two hundred forty-seven pesos (P247.00) for every punong barangay and member of the sangguniang panlalawigan, sangguniang panlungsod, or sangguniang bayan, and Sixty-two pesos (P62.00) for every member of the sangguniang barangay, barangay secretary, barangay treasurer and chairman of the kabataang barangay. The entire appropriation for the payments of the foregoing total annual premiums shall be released to the Government Service Insurance System during the first month of every calendar year. The System shall conduct periodic actuarial studies to determine the adequacy of the contribution as provided herein. Based on such studies, the premiums may be adjusted and the total annual premiums based on the adjusted premium rates as certified by the System shall likewise be provided for in the General Appropriations Act for every applicable year thereafter.