Recto assures public: Transfer of PhilHealth’s P20B excess funds legal

Ralph Recto and PhilHealth logo | FILE / Senate PRIB

The Department of Finance (DOF) on Tuesday said that the transfer of PhilHealth’s P20 billion out of P89.9 billion excess funds to the national government was legal.

Finance Secretary Ralph Recto assured the public that it was in accordance with Circular No. 003-2024 and will not affect PhilHealth’s financial capacity. It would also not result in a reduction of its health programs.

READ: DOH: Excess PhilHealth funds partly went to health workers’ allowance

“We are also not reducing PhilHealth programs and projects. In fact, the President mentioned yesterday in [his] Sona, there are additional benefits that PhilHealth is doing and will do,” Recto said during the Post-Sona discussions.

The finance chief also emphasized that consultations were conducted with the Good Corporate Governance (GCG), the Office of the Government Corporate Counsel (OGCC), and the Commission on Audit (COA), all of which confirmed the legality of the fund transfer.

Meanwhile, PhilHealth reassures its members that their benefits will remain unaffected and will continue to be expanded and enhanced in line with the benefit plan approved by the PhilHealth Board, which was initiated in 2023.