For March, an employee will be deducted 2.65% as previously agreed, with employers contributing 2.90%. The self-employed are among the highest contributors, as their payment will increase from 2.55% to 4%. Meanwhile the state, will pay 4.7%.

But from April, the rates will be slashed across the board for three months (until June 30). Employees, pensioners, persons holding any office and income will be charged a rate of 1.7%, self-employed individuals 2.55%, employers and the state 1.85%. The state will also pay a fixed fund at 1.65%.

In July, the rates will return to those announced in March.

Phase two of Gesy is rolling out in about three months, on June 1, but payments towards it are being made in advance.

The second phase of the public health service will include inpatient care which will be substantially more costly and burdensome than the outpatient care of phase 1, reflecting the increased contribution from earners.

Source: Cyprus Mail