Rep Bongalon plans probe into PhilHealth fund management

Ako Bicol Party-list Rep. Raul Angelo Bongalon plans to file a resolution at the House of Representatives for a congressional probe into PhilHealth's management of its reserve funds, which exceed P700 billion.

Bongalon raised concerns about how PhilHealth invests its P500 billion in investible funds and questioned the transparency and criteria behind these investments, noting that a conservative 4% annual interest on P500 billion could yield P20 billion.

He also criticized PhilHealth for failing to utilize allocated funds to expand medical benefits, leading Congress to cut the state insurer's subsidy for 2025.

Critics have voiced disapproval of this decision, calling it an 'insult' to PhilHealth members, while Bongalon assured that withholding P74 billion in premium subsidies would not affect health insurance benefits.

Bongalon revealed that P42 billion allocated for benefit expansion remained unused and highlighted issues such as delayed payments to hospitals and reports of bribery.

Under the Universal Health Care Act, PhilHealth is required to use excess funds to expand benefits or reduce premiums, but has failed to do so, prompting Congress's decision to withhold additional subsidies.