PhilHealth fund remains stable, continues to provide benefits

PhilHealth fund remains stable, continues to provide benefits

by Lorry V. Gabule

Manila (2 September) — The Philippine Health Insurance Corporation (PhilHealth) assures its members and stakeholders that there is no reason to be worried about its financial stability.

The National Health Insurance Fund remains stable and it can very well provide for the hospitalization benefits of PhilHealth members from the different member categories.

With an investment portfolio of about P91B as of July 31, 2009, PhilHealth remains solid, and is poised to remain so in the years to come.

However, there is a need to step up collection of premium contributions from the different paying programs to ensure the sustained life of the fund, especially with the recent enhancement in inpatient care benefits without any immediate increase in premium contributions.

It is for this reason that PhilHealth is exerting all efforts to prompt employers to remit their counterpart contributions for the benefit of their employees.

While we indeed have collectibles from the Department of Budget and Management (DBM) representing the National Government’s counterpart premium as an employer for the period 2001 to 2008, the DBM has remitted about P388M for 2006 and P85M for 2007, and another P610M has been duly appropriated under the General Appropriations Act (GAA) for 2009.

PhilHealth continue to bill the DBM for the said amounts, and with close coordination, we remain optimistic that the DBM will fully settle its obligations soon. (PhilHealth)

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