The Philippine Health Insurance Corporation (PhilHealth) urged the public not to worry after it guaranteed that the “fund life” of the state health insurer will remain active.
Philhealth gave the assurance during the hearing on the proposed Philhealth budget for next year.
The Senate Committee on Government Corporations and Public Enterprises conducted a public hearing on the programs, services, financial condition, and actuarial life of the agency.
Contrary to the earlier remark of PhilHealth that their funds will last only until 2027, PhilHealth OIC president and CEO Atty. Eli Dino Santos noted that the PhilHealth will stay and will achieve its obligations and plans, among others.
He assured that the country’s biggest state insurer’s operations will continue. “The ‘fund life’ of PhilHealth depends on how it can manage. Its earnings and expenses,” Santos said.
But Santos assured that Philhealth is capable of managing its income and expenses, such that there is no limitation to its lifespan. He said Philhealth’s earnings include a national government subsidy, contributions from PCSO and PAGCOR, the employed sector, and other investments.
With regards to expenses, he said PhilHealth manages its benefit payouts from partner providers. It also expanded its benefits under the Universal Health Care program.
Senator Alan Peter Cayetano, committee chair thanked PhilHealth but stressed that it is the responsibility of the state health insurer to ask the government for the needed funds although it is already confident of its fund life.