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Metro Manila (CNN Philippines, February 17) The Philippine Health Insurance Corporation or PhilHealth already has enough funds to compensate Filipinos who may experience serious side effects after being vaccinated against COVID-19, a lawmaker said Wednesday.
During a Senate hearing on the proposed COVID-19 Vaccination Program Act of 2021, Senate President Pro Tempore Ralph Recto strongly opposed the provision giving PhilHealth an additional P500 million for the indemnification fund. The state health insurer s financial statements show it has a reserve fund of ₱116 billion as of September 2020 and a net income of ₱5.3 billion that year, Recto said. Judicious use of resources. Why should we give them an additional ₱500 million? That s the purpose of the reserve fund to begin with, for problems of this nature, Recto said. There s no need to give them 500 million.