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Manila Bulletin devider Philippines devider National devider PhilHealth says its finances remain 'strong'

PhilHealth says its finances remain 'strong'

Published Jan 5, 2023 06:19 pm

Philippine Health Insurance Corporation (PhilHealth) (MANILA BULLETIN)

The Philippine Health Insurance Corporation (PhilHealth) said that its current financial standing is still in a "strong" position.

"We also reiterate that PhilHealth’s financial standing remains strong," the state health insurer said in a statement on Thursday, Jan. 5.

PhilHealth issued the statement following Malacanang's decision to suspend the scheduled increase in contribution rate this 2023.

"The Management is confident that, notwithstanding the suspension of the increase in premium rates, PhilHealth is more than able to meet its financial obligations to its members and partner health care providers," it said.

"In a meeting held on Jan. 04, 2023, the Board of Directors of the Philippine Health Insurance Corporation (PhilHealth) affirmed PhilHealth's compliance with the directive from the President of the Philippines to suspend the premium rate increase from four percent to 4.5 percent and the increase of income ceiling from P80,000 to P90,000 in CY 2023. With such suspension, the premium rate for CY 2023 remains at four percent with income ceiling of P80,000," it added.

PhilHealth noted that "a separate advisory will be issued to provide the guidelines implementing the said directive particularly for the direct contributors."

Despite the suspension, the agency assured that it will still introduce new benefit packages for its members this year.

These include the Outpatient Therapeutic Care for Severe Acute Malnutrition, Outpatient Package for Mental Health, and Comprehensive Outpatient Benefit, PhilHealth said.

"The new benefit packages for roll-out, which were scheduled to be sourced from the premium increase, shall be implemented as planned," it said.

"The Management was directed to employ the necessary strategies to ensure implementation of these benefits," it added.

PhilHealth once again assured the public that "the current benefits being enjoyed by members will not be affected by the said suspension."

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Philippine health insurance corporation PhilHealth financial standing suspension contribution hike strong
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