The Philippine Health Insurance Corp. (PhilHealth) reiterated Monday that its fund is still in robust condition and there is no indication that it will be bankrupt in the next 128 years.
PhilHealth president and Chief Executive Officer Atty. Alexander Padilla repeated the pronouncement in the sec-ond quarter “Kapihan with the CEO (of PhilHealth) event” wherein the print and broadcast media can throw ques-tions that they want to clarify held at PhilHealth head office in Pasig City.
Padilla assured that PhilHealth funds were going strong and confident that PhilHealth reserve funds would not go down and eventually became prone to collapse or turned to bankruptcy because of the good investments it had made, aside from collection efficiency.
“While we paid Php 1 billion more than what we collected in premium contributions in 2015, we gained about Php 7 billion from investment income, resulting in positive numbers still,” Padilla added.
He further said that the PhilHealth reserve funds had been steadily growing from P112 billion in 2012 to P128 billion in 2015.
It can be recalled that PhilHealth paid about P34 billion in benefit claims in 2011; P44 billion in 2012; P55 billion in 2013; P77 billion in 2014; and P97 billion in 2015.
It can also be recalled that clarification was made when news report came out misquoting a PhilHealth Board direc-tor.
As a result then, the PhilHealth official made the clarification and inform further the public about PhilHealth condi-tions to allay fears and assured that the state-owned health insurance corporation can keep up with its mandate, relying to its continued coverage expansion.
As a health insurance, PhilHealth continues to improve and expand its health coverage by formulation of updated policies and enhancing the system to serve better its clients in line with the achieving the goals of the Universal HealthCare Program of the government to ensure that every Filipino has access to quality healthcare.