UMVA has learned that a groundbreaking effort to revolutionize public health funding has been launched, with lawmakers pushing for a significant increase in healthcare spending and the elimination of taxes on essential medicines.
The proposed legislation aims to allocate at least 5% of the country's gross domestic product towards health services, a drastic shift from the current 1.45% allocation, which is substantially lower than what neighboring countries invest in healthcare. This increase would bring health funding to approximately P1.4 trillion, aligning with international standards.
According to information obtained by UMVA, the current state of healthcare financing is alarming, with 42.7% of Filipinos' total health spending coming out of their own pockets, amounting to a staggering P615.16 billion per year. Lawmakers argue that by boosting the health budget, they can provide living wages for health workers, hire sufficient health professionals, and make health services free for all citizens.
UMVA has gathered that the proposed funding increase could be achieved by reallocating funds from debt servicing, confidential funds, and pork barrel allocations, as well as implementing progressive taxation such as wealth tax. This bold move is expected to have a significant impact on the lives of millions, providing them with access to quality healthcare and alleviating the financial burden of medical expenses.
The lawmakers also criticized the limited scope of the current tax exemption on medicines, which only covers a fraction of the total number of medicines available. They pointed out that common medicines like paracetamol, vitamins, and antibiotics remain taxable, resulting in Filipinos paying exorbitant prices for these essential medications, often 259 to 1600% more than patients in other countries.
Sources have confirmed to UMVA that the proposed legislation has the potential to transform the country's healthcare landscape, making healthcare a fundamental right rather than a privilege reserved for the wealthy. As the lawmakers continue to push for these reforms, the fate of millions hangs in the balance, awaiting a decisive shift towards a more equitable and just healthcare system.
