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The Department of Finance said the Philippine Health Insurance Corp. , bolstered by rising earnings and continued government subsidies, will have ample funds to cover new benefits this year, even after the government transfers excess funds.
Recto said PhilHealth benefit packages would increase by more than 30 percent, with the breast cancer package rising to P1.4 million from P100,000. Recto said PhilHealth has over half a trillion pesos in reserves, enough to cover two to three years of expenses. “By the end of this year, PhilHealth’s fund will reach P550 billion. Even for two or three years, that fund is sufficient,” said the former legislator and author of the Universal Health Care law.
He said of the initial P20 billion transferred from PhilHealth’s excess funds, P20 billion was used for health emergency allowances of frontliners. Another P20 billion would be transferred on Aug. 21 to fund key infrastructure, health and education programs.
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