Investment, Financial, Philheath
COA: PhilHealth 3rd biggest spender among gov’t firms in 2020
COA: PhilHealth 3rd biggest spender among gov’t firms in 2020
According to the Commission on Audit, the Philippine Health Insurance Corp. (PhilHealth) spent P128.04 billion in 2020, the third highest among government-owned and controlled enterprises (COA). PhilHealth has once again been under fire for failing to satisfy increasing outstanding claims from hospitals, including some that threatened to drop out of the state-run health insurance and go on a five-day strike.
If the global COVID-19 epidemic persists until next year, Nerissa Santiago, acting senior vice president of PhilHealth, told a Senate committee in August 2020 that the state-run health insurance would collapse in 2022, projecting a P57-billion operating loss. However, Santiago informed House legislators in September that PhilHealth may run until 2027. She stated that its impending demise “would be determined by the government’s subsidy” as well as member premium contributions.
According to state auditors, the Social Security System (SSS) spent the most, P681.61 billion, followed by the Government Service Insurance System (GSIS), which spent P299.93 billion. They did not break down each corporation’s expenses.
They also claimed that overall income in 2020 will be P1.26 trillion, down from P1.46 trillion in 2019.
Add a little bit of Bangko Sentral ng Pilipinas (P118.154 billion), Land Bank of the Philippines (P80.998 billion), Home Development Mutual Fund (P49.666 billion), Philippine Deposit Insurance Corp. (P41.733 billion), and Philippine Amusement and Gaming Corp. (P41.733 billion) were the other top earners (P36.006 billion).
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