PhilHealth set to lose P13 billion due to deferment of contribution hike

MANILA - State insurance agency PhilHealth will lose some P13 billion this year after the increase in members' contribution was deferred, its spokesman said Wednesday.

The adjustment of members' monthly premium to 3.5 percent from the current 3 percent was supposed to generate that much had it pushed through, said PhilHealth spokesperson Rey Baleña.

Despite the deficit in projected income, the agency's projects will push through since it still has about P137 billion in reserve funds, said Baleña.

It is also slated to receive subsidy from the annual budget and funds from the earnings of Philippine Charity Sweepstakes Office (PCSO) and Philippine Amusement and Gaming Corporation (Pagcor), as mandated by the Universal Health Care Act.

President Rodrigo Duterte on Monday ordered the deferment of the scheduled increase PhilHealth contribution rate for members as the COVID-19 pandemic is still ongoing.

• Duterte orders deferment of PhilHealth contribution hike