CEBU, Philippines — Following its own admission of having nearly a trillion pesos in excess funds, Speaker Ferdinand Martin Romualdez has proposed to suspend at least for a year the contribution of members of the Philippine Health Insurance Corp.
In his closing address Wednesday during the last session day of the House of Representatives, he hinted about a suspension of PhilHealth members’ monthly premium contributions, pending an inquiry to determine if its financial stability can support such a measure.
“This investigation is not about blame; it is about finding solutions. Our goal is clear: to ensure that every peso in PhilHealth’s coffers works for the benefit of its members - the hardworking Filipino people who contribute month after month,” he said.
On top of the P60 billion in excess funds that returned to the national treasury, the state-run PhilHealth still has more billions of pesos in its coffers even before the year 2024 ends, lawmakers learned during a hearing held Tuesday.
PhilHealth President Emmanuel Ledesma Jr. told officials and members of the House committee on good government and public accountability that they still have P150 billion surplus, P281 billion in reserves, and an investment portfolio nearing P489 billion as of October.
The leader of the 300-plus-strong House informed his colleagues and the nation that his chamber would conduct next year “a thorough and impartial investigation into how PhilHealth’s funds are being managed.”
The Speaker said if the inquiry finds that existing funds are underutilized or are in excess of what is needed for current operations, the House would pursue the following recommendations:
1. If funds remain stable and are in surplus, the House will recommend a one-year suspension of premium payments for all paying members as a form of relief to millions of Filipinos already grappling with inflation and rising prices.
2. Further reduce premium contributions.
3. Further expand benefits for members until the vision of zero billing in hospitals is reached.
4. The House would ensure that Philhealth provides expanded healthcare coverage, including additional medical services, hospitalization support and better benefits for those in need.
5. For workers and employers burdened by rising costs, the House will explore reducing premiums while maintaining PhilHealth’s capacity to deliver its services.
6. Ensure that PhilHealth provides expanded healthcare coverage, including additional medical services, hospitalization support, and better benefits for those in need.
“Why are we doing this? Because the people deserve no less. PhilHealth exists to provide security and comfort in times of medical emergencies. It should not hoard resources at the expense of its members,” Romualdez, a first cousin of President Marcos, said.
“If we can alleviate the burden of contributions without compromising its sustainability, we will do so,” Speaker added. He said the PhilHealth inquiry would be conducted as part of the exercise of the House of its oversight power.
“This year, we have also exercised our oversight functions with diligence and integrity. Our investigations in aid of legislation have uncovered anomalies, held officials accountable, and pushed for reforms to ensure public funds are spent wisely,” he said.
He said the House “remains vigilant in emphasizing the importance of transparency and accountability of public funds, reaffirming our commitment to safeguarding our most precious resources.” – Delon Porcalla/Philippine Star News Service/FPL (CEBU NEWS)