By: Villamor C. Visaya Jr.
(Published in its print edition on February 8 – 14, 2025)
IF we were to believe the words of former Finance Secretary Margarito Teves as an amicus curiae (Latin for friend of the court) before the Supreme Court, the transfer of idle funds from the Philippine Health Insurance Corporation (PhilHealth) to the Bureau of Treasury (BTr) is a wise move.
For him, the government has the ability to create funds for vital public projects and programs. He believes that the PhilHealth’s services for all its members, including indigents and senior citizens would never be threatened while the resources are being used for other programs. Going further, he claims that even then President Ramos required fund transfers to the BTr while ex-President Arroyo did almost the same scheme by having special and trust funds.
The monies are not that small. This involves the P89.9 billion idle PhilHealth funds.
Data showed that PhilHealth’s total assets stood at P682.2 billion, including P510 billion liquid assets. However, if this fund will be enough to cover existing and future obligations is yet to be seen.
Unfortunately, what Teves sees is only the external reason of transferring the idle fund to the national government coffers. It seems to be a sound fiscal decision but it runs counter to the benefits of the members.
It sounds prudent for fiscal handlers in the national government.
Yet, the government’s ballooning debts and shrinking medical assistance should not be paid—albeit partly–out of the money contributed by members.
Subsidies to PhilHealth are not assured. Most politicians are horrible at that. Promises are made to be broken, indeed, for some—if not many–of them.#
