Ten things about the P90 B PhilHealth excess funds and unprogrammed appropriations
The Philippine Star|October 31, 2024
The Supreme Court issued last Tuesday a temporary restraining order (TRO) directing the Philippine Health Insurance Corp. (PHIC or PhilHealth) not to transfer the remaining P29.9 billion out of P89.9 billion in excess funds for 2024 to the National Treasury.
Bienvenido S. Oplas Jr.

It is time to revisit some facts about this fund and related issues.

First, that P90 billion is not from PhilHealth members' premium payments. Members' yearly contributions from 2021 to 2023 ranged from P106 billion to P158 billion, while benefits claimed ranged from P85 billion to P153 billion over the same period. So members' contributions are intact and not diverted to other sectors in unprogrammed appropriations (UA).

Second, that P90 billion is derived from a portion of remittances from PAGCOR and PCSO, and a portion of tax revenues from alcohol and tobacco. On average, this amounts to P80 billion per year from 2021 to 2023, accumulating yearly. Thus, these are funds from bettors and gamblers, as well as from drinkers, smokers and vapers of legal tobacco products, since illicit and smuggled tobacco and alcohol do not pay taxes.

Third, the UA was created because programmed appropriations are already numerous. The regular and funded expenditures are so high that current and projected revenues will not be able to keep up, leading to a huge yearly budget deficit (revenues lower than expenditures) and substantial annual borrowing. From January to September 2024, interest payments alone for our public debt amounted to P583.3 billion, and the budget deficit reached P970.2 billion. At these rates, the full-year 2024 interest payment may reach P875 billion, and the budget deficit may reach or exceed P1.44 trillion.

Denne historien er fra October 31, 2024-utgaven av The Philippine Star.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra October 31, 2024-utgaven av The Philippine Star.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE PHILIPPINE STARSe alt
Discovery Resorts: The new face of Filipino luxury hospitality
The Philippine Star

Discovery Resorts: The new face of Filipino luxury hospitality

Discovery Hospitality Corporation (DHC), a homegrown leader in Filipino luxury hospitality, has launched its reimagined brand-Discovery Resorts-marking a new era in its pursuit of providing an elevated guest experience rooted in Filipino warmth and world-class service.

time-read
2 mins  |
November 13, 2024
20 years of building the good life: Henry Sy, Jr. and SMDC's journey
The Philippine Star

20 years of building the good life: Henry Sy, Jr. and SMDC's journey

\"TRUE HOMEOWNERSHIP INVOLVES CREATING VIBRANT COMMUNITIES WHERE PEOPLE CAN FEEL SECURE, MAKE MEMORIES, AND TRULY BELONG.\" - Henry Sy, Jr.

time-read
1 min  |
November 13, 2024
The Philippine Star

Trump taps Waltz, China hawk, as nat'l security adviser

President-elect Donald Trump has asked US Rep. Michael Waltz, a retired Army National Guard officer and war veteran, to be his national security adviser, a person familiar with the matter said on Monday.

time-read
1 min  |
November 13, 2024
The Philippine Star

Robinsons Appliances opens in Ayala Malls Vermosa

Robinsons Appliances, a trusted name in appliances and gadgets shopping, celebrated the grand opening of one of its biggest branches at Ayala Malls Vermosa.

time-read
1 min  |
November 13, 2024
Oh, what wonders await you at Rockwell!
The Philippine Star

Oh, what wonders await you at Rockwell!

The holiday season kicks off with Rockwell transforming into a dazzling wonderland, brimming with festive cheer and delightful surprises at every corner.

time-read
2 mins  |
November 13, 2024
Embracing wellness as a way of life in the city
The Philippine Star

Embracing wellness as a way of life in the city

When one lives in the city, wellness cannot remain merely a goal—it must become a way of life.

time-read
3 mins  |
November 13, 2024
METRO MANILA OFFICE VACANCY RATES TO REMAIN ELEVATED
The Philippine Star

METRO MANILA OFFICE VACANCY RATES TO REMAIN ELEVATED

Vacancy rates in the Metro Manila office market are expected to remain elevated in the medium term, driven by the total ban on Philippine Offshore Gaming Operators (POGOs) and the implementation of the CREATE MORE Bill, according to a commercial real estate services firm.

time-read
5 mins  |
November 13, 2024
BINI is first Filipino group to win Best Asia Act at 2024 MTV EMAs
The Philippine Star

BINI is first Filipino group to win Best Asia Act at 2024 MTV EMAs

\"Nation's Girl Group\" BINI marked another milestone by becoming the first-ever Filipino recipient of the Best Asia Act award at the 2024 MTV Europe Music Awards (EMAs).

time-read
2 mins  |
November 13, 2024
WHY 'BALOTA' IS A CAREER WAKE-UP CALL FOR MARIAN RIVERA
The Philippine Star

WHY 'BALOTA' IS A CAREER WAKE-UP CALL FOR MARIAN RIVERA

MARIAN RIVERA, ALONG WITH THE REST OF THE \"BALOTA\" CAST AND production team, recently held a victory party for the successful theatrical release of the film co-produced by GMA Entertainment Group and GMA Pictures.

time-read
4 mins  |
November 13, 2024
Megan Fox is expecting a baby with Machine Gun Kelly
The Philippine Star

Megan Fox is expecting a baby with Machine Gun Kelly

Megan Fox and Machine Gun Kelly are expecting to grow their family. Fox announced her pregnancy in a social media post Monday.

time-read
1 min  |
November 13, 2024