DOF: Additional P10-B PhilHealth fund transferred to national treasury

The second tranche of excess funds of the Philippine Health Insurance Corporation (PhilHealth) amounting to P10 billion has been transferred to the national treasury on Wednesday, August 21, the Department of Finance (DOF) said Thursday.

The P10 billion was part of the P89.9 billion total excess funds of PhilHealth that are set to be transmitted to the national treasury on a staggered basis. An initial P20 billion was already remitted last May.

“Per clarification with our office, we have already received an additional P10 billion. It was remitted to us yesterday. So, a total of P30 billion has been remitted to the Bureau of the Treasury,” DOF Director Euvimil Nina Asuncion said in a Bagong Pilipinas Ngayon interview.

Asuncion said that the PhilHealth requested to remit the excess funds in tranches and so the DOF can “see how PhilHealth manages its financials.”

“At this point in time, I think we are on track. Susundin din nila ang provisions ng General Appropriations Act kasi ito po ay standing law [PhilHealth will have to follow the provisions of the GAA because this is a standing law],” she said.

“Sa tranching, I think next po meron na naman silang ire-remit and sa susunod na buwan after that,” she added.

(In terms of tranching, I think PhilHealth will remit again next month and the next month after that.)

Healthcare worker groups and former Health secretaries on Monday appealed to Finance Secretary Ralph Recto to cancel the transfer of this second tranche of PhilHealth excess funds to the national treasury. 

The groups emphasized that PhilHealth funds need to be protected, “given the ever-increasing costs of healthcare” in the country.

They also said that the government should not take back the funds given to PhilHealth, as it violates the basic principles of an insurance system.

Meanwhile, the Supreme Court has ordered several senior government officials to submit their comments to a petition blocking the transfer of excess funds of PhilHealth.

The petition was filed by the Philippine Medical Association, Senator Aquilino "Koko" Pimentel III, former Finance undersecretary Cielo Magno, Dr. Ma. Dominga Padilla, and the Sentro ng mga Nagkakaisa at Progresibong Manggagawa, among others.

Aside from Recto, the respondents are the House of Representatives represented by Speaker Ferdinand Martin Romualdez; the Senate of the Republic of the Philippines represented by Senate President Francis “Chiz” Escudero; Executive Secretary Lucas Bersamin; and PhilHealth, represented by its president, Emmanuel Ledesma Jr. — RSJ, GMA Integrated News