The Philippine Health Insurance Corporation (PhilHealth) on Monday said it has sufficient funds to cover all the benefit package payments and planned expansion of package rates next year.

In a media forum in Pasig City, PhilHealth Senior Vice President Renato Limsiaco Jr. said all Filipinos can avail of their benefit packages both in hospital and primary care whether they pay monthly premiums or not.

This came after Congress and the Department of Budget and Management appropriated only PHP53.26 billion worth of premiums covering only 14 million out of the 25.28 million indirect contributors to PhilHealth.

The state insurer has requested a PHP150.92 billion budget to cover all its indirect contributors.

“This year from the sin tax fund, we received PHP40 million and the PCSO (Philippine Charity Sweepstakes Office) and PAGCOR (Philippine Amateur Gaming Corporation), PHP21.73 million, we received PHP61 million all in all,” Limsiaco said.

“And for next year, another round of funding, so PHP21.1 million from PCSO for the improvement of benefits, and I think PHP47 million something is from the sin tax.”

He noted these funds will be added to the premium collection from direct contributors who are employees of the government and private companies, and those who are “self-paying”.

As of Oct. 31, the PhilHealth has a total fund of PHP485 billion pesos.

It has collected a total of PHP172.3 billion premium payments as of Nov. 22.

It has disbursed Php148.4 billion for benefits payments, leaving a balance of PHP23.9 billion as of Nov. 22.

“This PHP148.4 billion, this is unprecedented, because this is our highest benefit payout, November pa lang pero PHP148 na (it’s just November and the payout is already PHP148),” Limsiaco said.

“Last year PHP118 [billion] lamang ang naipalabas natin (We only disbursed PHP118[billion] last year),” he added.

He also assured the public that the PHP23.9 billion excess fund would be used for the expansion of benefit package coverages. (PNA)