Philippine Health Insurance Corp. (PhilHealth) recently revealed that the country’s top insurance company’s ‘financial position will be very grim’ following the surge of the coronavirus pandemic, thus reducing contributions. PhilHealth President and CEO Ricardo Morales shared his concern during the joint congressional committee meeting regarding the implementation of the Universal Health Care (UHC) Act.
“Pagdating ho ng next year, delikado na ho. Our financial position will be very grim. Because we were advised by the DBM (Department of Budget and Management) that ‘yung government subsidy for next year will remain at the same level as 2020 [at] P71 billion,” states PhilHealth President and CEO Ricardo Morales.
Read more: Morales says PhilHealth facing ‘very grim’ 2021 financial status, an article by the Inquirer.