Recto: PhilHealth to end 2024 with P546 billion despite fund transfer | ABS-CBN
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Recto: PhilHealth to end 2024 with P546 billion despite fund transfer
Recto: PhilHealth to end 2024 with P546 billion despite fund transfer
PhilHealth processes members’ transactions in Quezon City. Maria Tan, ABS-CBN News/File
PhilHealth processes members’ transactions in Quezon City. Maria Tan, ABS-CBN News/File MANILA – Department of Finance Secretary Ralph Recto said Wednesday the Philippine Health Insurance Corporation (PhilHealth) could end 2024 with about P546 billion in funds even if it transferred P90 billion to other government expenses.
MANILA – Department of Finance Secretary Ralph Recto said Wednesday the Philippine Health Insurance Corporation (PhilHealth) could end 2024 with about P546 billion in funds even if it transferred P90 billion to other government expenses.
"Today by the end of 2024, they will make an income of P240 billion. They will spend 179, may improvement na, better benefit packages already. They will make P61 billion. By the end of the year, they will have P546 billion and we already took away the 90. So kung 150 ang gastos nila, they have good for 3 years at least," Recto said.
"Today by the end of 2024, they will make an income of P240 billion. They will spend 179, may improvement na, better benefit packages already. They will make P61 billion. By the end of the year, they will have P546 billion and we already took away the 90. So kung 150 ang gastos nila, they have good for 3 years at least," Recto said.
Recto explained this to Senate Finance Committee Chair Grace Poe during the resumption of the Development Budget Coordination Committee briefing.
Recto explained this to Senate Finance Committee Chair Grace Poe during the resumption of the Development Budget Coordination Committee briefing.
"There should be more than enough to pay for their obligations," Recto said of PhilHealth’s funds.
"There should be more than enough to pay for their obligations," Recto said of PhilHealth’s funds.
Recto said PhilHealth funds are invested in government bonds.
Recto said PhilHealth funds are invested in government bonds.
Poe noted that during the pandemic, PhilHealth suspended increases in premium contributions.
Poe noted that during the pandemic, PhilHealth suspended increases in premium contributions.
UNIVERSAL HEALTH CARE
UNIVERSAL HEALTH CARE
Recto noted the Senate is deliberating an amendment to the Universal Health Care Act which would mandate a premium rate reduction. However, Recto said he would rather improve benefit packages.
Recto noted the Senate is deliberating an amendment to the Universal Health Care Act which would mandate a premium rate reduction. However, Recto said he would rather improve benefit packages.
"The President has already instructed PhilHealth to improve it (benefit package) by roughly 30 percent, if I'm not mistaken, not to mention for cancer and life threatening illnesses,” he said.
"The President has already instructed PhilHealth to improve it (benefit package) by roughly 30 percent, if I'm not mistaken, not to mention for cancer and life threatening illnesses,” he said.
Recto again justified why the government PhilHealth member premiums are being increased despite having huge funds in reserve, citing a 2018 law.
Recto again justified why the government PhilHealth member premiums are being increased despite having huge funds in reserve, citing a 2018 law.
"The Universal Health Care mandated to increase the rates from 3 to 5 percent for members' contributions," Recto said.
"The Universal Health Care mandated to increase the rates from 3 to 5 percent for members' contributions," Recto said.
"This was delayed during the time of the pandemic so it was only applied after the pandemic," he said.
"This was delayed during the time of the pandemic so it was only applied after the pandemic," he said.
Recto also cited the national budget law in justifying the use of excess PhilHealth funds for other expenses.
Recto also cited the national budget law in justifying the use of excess PhilHealth funds for other expenses.
"The General Appropriations Act of 2024 has an unprogrammed portion in the budget and there is there a paragraph which mandates, inuutusan ang DOF na mag-issue ng circular with regard to find balances of GOCC's," Recto said.
"The General Appropriations Act of 2024 has an unprogrammed portion in the budget and there is there a paragraph which mandates, inuutusan ang DOF na mag-issue ng circular with regard to find balances of GOCC's," Recto said.
Recto added that PhilHealth had a lot of savings during the pandemic.
Recto added that PhilHealth had a lot of savings during the pandemic.
"It was the national government who spent for the pandemic and we did not use resources from PhilHealth,” Recto said.
"It was the national government who spent for the pandemic and we did not use resources from PhilHealth,” Recto said.
Recto also explained that the PhilHealth cannot be tapped for allowances for health workers.
Recto also explained that the PhilHealth cannot be tapped for allowances for health workers.
"It is not the obligation of PhilHealth to pay the emergency allowances of our frontline workers. Like I said earlier their reserve funds were not spent during the pandemic, inako lahat ng national government. PhilHealth did not spend for a single vaccine. PhilHealth did not spend for a single frontline worker,” he said.
"It is not the obligation of PhilHealth to pay the emergency allowances of our frontline workers. Like I said earlier their reserve funds were not spent during the pandemic, inako lahat ng national government. PhilHealth did not spend for a single vaccine. PhilHealth did not spend for a single frontline worker,” he said.
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