GOCC subsidies up 1,070% in January

THE P1.44 BILLION released to Philippine Health Insurance Corp. (PhilHealth) last January lifted by 1,070 percent year-on-year the subsidies given by the national government to state-run corporations at the start of the year.

Even as only two government-owned or -controlled corporations (GOCCs) were granted subsidies in January, the total of P1.7 billion dwarfed the P145 million in subsidies distributed during the same month last year, the latest Treasury data showed.

Besides PhilHealth, the National Irrigation Administration (NIA) got P253 million in January.

Last year, PhilHealth was also the recipient of the biggest share of government subsidies with P34.87 billion or 44.7 percent of the total.

A tax-exempt GOCC, PhilHealth administers the National Health Insurance Program, which was aimed at providing all Filipinos health insurance coverage as well as accessible and affordable health care services.

The latest official data showed that as of end-2015, PhilHealth covered 92 percent of the total projected population or more than 93.4 million beneficiaries, of which 40.5 million were members while almost 53 million were dependents.

In 2015, GOCCs received subsidies totaling P78.01 billion, down 3 percent from 2014’s P80.44 billion—the biggest annual amount thus far.

The government plans to ramp up budgetary support to state-run firms this year as the Budget of Expenditures and Sources of Financing document for fiscal year 2016 showed that the proposed allotment for GOCCs would increase to P127.1 billion.

Of the 2016 amount, P96.1 billion will be subsidies, P31 billion will be equity and P26.5 million will be net lending.