PhilHealth is Dying.. Only Has Few Months to Live, Says Board Member

The Philippine Health Insurance Corporation (PhilHealth) is in need of an immediate rescue because it is dying and only has a few months to live, hinted PhilHealth board member Eddie Dorotan in a speech during the inauguration of a certain health insurance office in Legazpi on Tuesday.

Its fund is fast-draining. Its fund payout is larger than its members' monthly contributions and income, InterAksyon wrote in an article.

Last year, PhilHealth lost almost P1 billion when it paid P97 billion benefits to claimants, while its earnings hit only P96 billion.

PhilHealth News and updates

The official also mentioned that PhilHealth's premium payments for senior citizens and beneficiaries of the "Pantawid Pamilyang Pilipino Program" also known as the 4Ps hit the P10-billion mark.

PhilHealth hopes that in order for it to prevent a sure financial collapse, it is trying to intensify its collection efforts from its members in the private and government offices.

The company has collectible amounting to billions of pesos, board member Dorotan said.

READ: SSS and PhilHealth higher contribution rates

In response to the above news, another article came out a few hours ago saying PhilHealth's finances are actually still "robust and healthy".

Below was the statement released by PhilHealth President and CEO Alexander A. Padilla:
We would like to clarify some news reports that came out today that might have caused panic among our members, especially where the stability of the health insurance funds is concerned. PhilHealth’s finances are still robust, healthy and substantial as ever
Padilla assured members that PhilHealth will be able to meet its obligations.
There is no reason for our members and other stakeholders to worry about our capacity to meet our obligations
Source: InterAksyon, MB

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