The Philippine Health Insurance Corporation (PhilHealth) on Monday said it supports the reduction of the mandatory contribution paid by its members.

“I think if I am not mistaken, it’s from five percent, they will bring it down to 3.25 percent,” PhilHealth president and chief executive officer Emmanuel Ledesma Jr. said in a media forum in Quezon City.

“That will be a huge help, I think, to the people… that will be around PHP40 billion a year.. ang laking savings niyan sa mga tao (that will be a huge savings for the people). Once the bill is passed, we will definitely follow, we will be happy to move po,” he added.

The Senate has approved the bill seeking to amend the Universal Health Care Act to bring down the premium rate paid by the direct contributors of the state insurer.

Ledesma noted that PhilHealth has adequate funds which explains its aggressive expansion of the health benefit packages, reducing the out-of-pocket expenses of its members.

Apart from the continuous increase in premium rates as mandated by law, Ledesma said the excess funds of PhilHealth were brought about by the 10-year non-enhancement of the benefit packages and few benefit claims during the Covid-19 pandemic.

PhilHealth Senior Vice President Renato Limsiaco Jr. said that PhilHealth’s investments have reached PHP512 billion as of Oct. 5 this year with over PHP9 billion remitted to the national government.

Its payouts for case packages have reached PHP120 billion as of Sept. 30.

When asked about going bankrupt amid the increases in benefit package rates, Ledesma said the state insurer adjusts the case rates and enhances members’ benefits. (PNA)