DOF: PhilHealth excess fund came from NG subsidies

Q: How long will it take to read this news story?

The story "DOF: PhilHealth excess fund came from NG subsidies" has 988 words across 33 sentences, which will take approximately 5 - 9 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "DOF: PhilHealth excess fund came from NG subsidies" was covered 2 days ago by Business Mirror, a news publisher based in Philippines.

Q: How trustworthy is 'Business Mirror' news outlet?

Business Mirror is a fully independent (privately-owned) news outlet established in 2005 that covers mostly business and startups news. The outlet is headquartered in Philippines and publishes an average of 33 news stories per day. It's most recent story was published 13 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21612000</li><li>URL: https://beamstart.com/news/dof-philhealth-excess-fund-came-17209742878418</li></ul>

Business Mirror Logo Business Mirror 2d ago

DOF: PhilHealth excess fund came from NG subsidies - Business Mirror

Quick Summary:

THE P89.9 billion in excess funds of the Philippine Health Insurance Corporation (PhilHealth) being channelled to unprogrammed funds did not come from member contributions but government subsidies, and will be used to bankroll vital national government projects, according to Finance Secretary Ralph G.Recto.

Section 11 of the UHC Law states that “…whenever actual reserves exceed the required ceiling at the end of the fiscal year, the excess of the PhilHealth reserve fund shall be used to increase the Program’s benefits and to decrease the amount of members’ contributions.

Unprogrammed funds are not automatically allocated and can only be released if the government, through the Treasury, can collect excess revenue or income beyond its initial projection, or should foreign or approved financial loans or grant proceeds be realized.