PhilHealth actuarial life until 2027, executive tells House panel

The estimated actuarial life of the Philippine Health Insurance Corporation is until 2027, a PhilHealth executive told lawmakers on Friday.

"The estimated actuarial life for now is until 2027 po," PhilHealth's acting Senior Vice President Nerissa Santiago said at a congressional briefing.

"That means po 'yung reserves, considering 'yung marereceive na collections as against doon sa benefit payouts, it will only last until 2027," she added. 

Santiago said this is only based on projections, noting that assumptions could be different from what will really transpire in the future.

"The assumption that is in the projection will depend on the subsidy coming from the government with respect for the premium contribution for the indirect distributors," Santiago said.

"It will also depend on the rollout of benefit enhancement in the future so marami pong dependencies yung actuarial life po," she added.

According to Santiago, the expected net loss for 2021 is around P57 billion.

For Marikina Representative Stella Quimbo, it is unacceptable that PhilHealth could only last until 2027.

"That’s not an acceptable idea and from January to June malaki pa ang kita natin and in fact if you will continue to collect as much of what you collected last year, which is a P149 billion, that means you will collect, say P50 billion in the next six months," Quimbo said. —NB, GMA News