House Assistant Majority Leader Zia Alonto Adiong refuted claims circulating on social media that PhilHealth lacks funds to cover Filipinos' health needs. He emphasized that PhilHealth has over P504 billion in investible funds and P183 billion in surplus reserve funds, exceeding the statutory requirement of two years' worth of average benefit payments. Adiong questioned the rationale behind PhilHealth's significant investments when its primary mission is to provide healthcare services.
House Assistant Majority Leader and Lanao del Sur Rep. Zia Alonto Adiong House Assistant Majority Leader and Lanao del Sur Rep. Zia Alonto Adiong insisted Tuesday that the Philippine Health Insurance Corp. has more than enough reserve funds to cover the health needs of Filipinos, contrary to false claims circulating in social media.
On top of this, Adiong said PhilHealth officials reported that its surplus reserve funds amounted to P183-billion apart from two unutilized Special Allotment Release Orders amounting to P42 billion. The Department of Finance estimates this requirement at P280 billion, or P140 billion per year. PhilHealth’s current reserves significantly surpass this threshold, underscoring its financial stability, Adiong said.
In fact, Adiong said that upon orders from the DOF early this year, the State insurer returned unused reserve funds to the national treasury, further proof that it really has excess funds. Additional transfers, however, were halted by a Supreme Court temporary restraining order.
Philhealth Health Insurance Funds Reserve Zia Alonto Adiong
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