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Manila Bulletin devider Philippines devider National devider After flexing finances, PhilHealth asked in budget hearing to temporarily stop premium collections

After flexing finances, PhilHealth asked in budget hearing to temporarily stop premium collections

Published Sep 6, 2023 10:46 pm

At A Glance

  • The Philippine Health Insurance Corporation (PhilHealth) was asked Wednesday night, Sept. 6 to consider temporarily stop collecting contributions from its members after it told the House Committee on Appropriations just how rosy its financial status was. 

Screenshot_20230907-062658_YouTube.jpgPhilHealth President Emmanuel Ledesma Jr. (Screenshot from YouTube live)

 

 

 

 

 

 

 

The Philippine Health Insurance Corporation (PhilHealth) was asked Wednesday night, Sept. 6 to consider temporarily stop collecting contributions from its members after it told the House Committee on Appropriations just how rosy its financial status was. 

Making the suggestion during the 2024 budget deliberation of the Department of Health (DOH) was appropriations panel Senior Vice Chairperson Marikina City 2nd district Rep. Stella Quimbo. 

“Sa laki ng kinikita ng PhilHealth pwede ba natin pag-isipan, pwede ba munang i-suspend ang pagkolekta ng PhilHealth premiums mula sa aming mga workers (With PhilHealth's profits being this huge, maybe PhilHealth can think about suspending the collection of premiums from us workers). Again, until such time that you show proof that you can effectively spend your money," Quimbo said. 

During the hearing, the appropriations panel learned that PhilHealth raked in some P100 billion last year. The figure included P68 billion in members' premium, P22 billion in government subsidy for select beneficiaries, and P12.2 billion in revenue from investments. 

PhilHealth President and Chief Executive Officer (CEO) Emmanuel Ledesma Jr. said agency has P466 billion worth of investible funds and a net income of around P68.4 billion as of July 31.  

He added that the agency has a reserve fund of P336 billion. 

Quimbo, an economist, made sure to point out to Ledesma that she knew PhilHealth wasn't in dire straits. 

“Meron pa sigurong other income dito na hindi pa natin naa-account for, but more or less ito na ang paliwanag bakit malaki ang kinikita ng PhilHealth, tama po? (There may be other income that we have yet to account for, but more or less this explains why PhilHealth is very profitable, is that correct?)” she asked. Ledesma said yes. 

"Hindi ba natin pwedeng temporarily dahil sa sobrang laki po ng kita ng PhilHealth i-suspend muna natin ang pagkolekta ng premiums? (Because of these huge profits of PhilHealth, can't we temporarily suspend the collection of premiums?)"the lady solon asked, as she again noted the need for the corporation to demonstrate that it can effectively spend its funds. 

Ledesma replied by saying that PhilHealth can't change the contribution system--at least not yet. 

“When the reserve fund, which is currently at P336 [billion] reaches P470 [billion], that’s based on the computation of the actuary, then we can either decrease the contribution or increase the benefit packages,” he said. 

Quimbo shot back, "You’ve been promising better benefit packages since you created PhilHealth in 1995 at hanggang ngayon wala pa rin po (and up to now that hasn't happened)." 

In the end, she told Ledesma to think about her proposal and submit an answer in writing. 

It was also learned during the meeting that PhilHealth officials received huge salary hikes in 2022.

 

Related Tags

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