A CONGRESSMAN on Sunday said he would file a resolution at the House of Representatives to investigate state-run Philippine Health Insurance Corp.’s (PhilHealth) investment and reserve funds.
The proposed congressional inquiry comes after lawmakers decided to cut PhilHealth’s 2025 subsidy for accumulating billions worth of reserve funds.
Party-list Rep. Raul Angelo D. Bongalon, a vice-chairperson of the House appropriations committee, said PhilHealth failed to expand its health benefits or reduce its premiums despite having over P700 billion in reserve funds, with P500 billion in investment funds.
“At just a conservative 4% annual interest, P500 billion could yield P20 billion in income. How much does PhilHealth really make from its investments? Where do they place the funds, and who decides where it’s invested? Most importantly, what’s the criteria for these investments?” Mr. Bongalon asked.
PhilHealth did not immediately respond to an e-mail and Facebook Messenger chat seeking comment. — Kenneth Christiane L. Basilio
