THE Philippine Chamber of Commerce and Industry (PCCI) has called on the Philippine Health Insurance Corp. (PhilHealth) to increase its healthcare benefits offerings and suspend a pending rate hike.
In a statement sent over the weekend, the PCCI said that PhilHealth’s financial assistance continues to be “severely deficient” despite “substantial reserve funds.”
“Despite posting surplus funds, the agency’s health insurance coverage is still at the bare minimum; members continue to disproportionately shoulder the burden of their hospital and healthcare expenses,” PCCI President Enunina V. Mangio said.
“These funds are contributions from the hard-earned money of its members. These should be plowed back to members in the form of a higher rate of benefits, including hospitalization, and the expansion of covered illnesses,” she added.
PhilHealth collected higher premium rates to ensure enough resources for the expanded coverage after the enactment of the Universal Health Care Law in 2019.
However, the government was only able to provide subsidies for an estimated 37% of beneficiaries, comprising the elderly and very low-income contributors.
In 2023, PhilHealth reported a net income of P173.46 billion and accumulated funds of P700 billion.
The PCCI said PhilHealth’s operating cash flow is over P70 billion annually, which justifies a suspension of the remaining 1% increase in member contributions.
“PhilHealth has shown its solvency. It does not need another rate hike to sustain its operations and services to its members; it needs efficient management of its funds,” Ms. Mangio said.
The business group also sought transparency in the use of PhilHealth funds through regular performance audits.
“We need an effective healthcare system to ensure that healthcare services are accessible, equitable, efficient, affordable, and of high quality for all,” Ms. Mangio said.
“In light of emerging health concerns, good governance should be strengthened to ensure that PhilHealth capably and appropriately achieves its mandate and responds to current and future needs,” she added. — Justine Irish D. Tabile