PHILHEALTH in Danger of Closing?

PHILHEALTH, the Government owned company is in danger of going bankruptcy for the next 7 years unless the government pays the P19.2 billion contribution of all government agency. While the government automatically deduct contribution for Phil Health from the salary of the public employees, it is not remitting in part or whole causing trouble in the funds of the agency.

Sen. Loren Legarda made this assessment Wednesday after a hearing on the measure calling for mandatory universal health care coverage.She said Philhealth officials themselves informed her that the country’s public health care company is in danger of insolvency because the DBM is not paying its debt for the past 8 years while some politicians are using the agency is giving free medical benefits specially during campaign period.

8/20/09

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