Worker shortages, seasonal factors change push US weekly jobless claims back to 53-year lows

WASHINGTON — The number of Americans filing new claims for unemployment benefits fell last week, indicating a further tightening of labor market conditions heading into the second quarter, which could contribute to keeping inflation elevated.  Part of the decline in claims back to a more than 53-year low touched in mid-March reflected a revision of […]

PDIC resolves more deposit claims, loan accounts in 2021 as process goes online

PHILIPPINE Deposit Insurance Corp. (PDIC) settled 19,184 deposit insurance claims and resolved over 30,000 loan accounts of closed banks in 2021, the Department of Finance (DoF) said in a statement on Tuesday. PDIC President and Chief Executive Officer Roberto B. Tan said in a report to Finance Secretary and PDIC Board Chairman Carlos G. Dominguez […]

SEC warns about AlgoSCALP’s ‘enticing’ investment scheme

THE Securities and Exchange Commission (SEC) has warned the public about AlgoSCALP, an automated trading system, which has been soliciting investments without license or approval from the regulator. “AlgoSCALP, AlgoSCALP Trading, or AlgoSCALP Auto Trading claims that it is a fully automated trading system, and that the provider will place buy and sell orders for […]

PhilHealth president vows to release 60% of private hospitals’ unpaid claims next week  

By Bianca Angelica D. Añago Reporter  and Russell Louis C. Ku  PHILIPPINE HEALTH Insurance Corp. (PhilHealth) President and Chief Executive Officer Dante A. Gierran has pledged to release funds for 60% of the unpaid claims of private hospitals by the end of next week.    In a House hearing on Thursday, Mr. Gierran said PhilHealth owes private hospitals a total of P21.1 billion as of […]

PhilHealth-WV cites performance after Iloilo mayor’s lawsuit threat 

THE PHILIPPINE Health Insurance Corp. (PhilHealth)-Western Visayas (WV) on Thursday cited its performance as one of the best among regional offices after the mayor of Iloilo said he is mulling filing charges against the state insurer over unpaid claims to hospitals.    PhilHealth Regional Vice President Valeri Anne H. Hollero, in a statement, said their office “has processed the […]

The VAT refund that got away?

Two weeks ago, our Let’s Talk Tax article covered the new Value-Added Tax (VAT) rules on sale of goods to ecozone entities and exporters. This was pursuant to Revenue Regulations (RR) No. 9-2021 which imposed 12% VAT on certain transactions that were previously taxed at 0%. The RR met with strong opposition from various stakeholders […]

P7.5B in claims paid by Philhealth-Central Visayas

THE Philippine Health Insurance Corp. (PhilHealth) 7 disclosed that from last year to May 27, 2021, it paid claims from various health care institutions in Central Visayas amounting to P7,582,612,550.48. A total of P366,360,394.52 was disbursed for coronavirus disease 2019 (Covid-19) in-patient coverage. Of the amount, P345,570,856.78 was paid to hospitals in Cebu; P14,101,498.66 to […]

Isolation hubs profiting from Covid, Gwen claims

CEBU Gov. Gwendolyn Garcia on Wednesday, Feb. 10, 2021, claimed that isolation facilities for coronavirus-positive individuals are making money from the pandemic since they get up to P22,449 to house one patient. This is the maximum reimbursement from state-owned Philippine Health Insurance Corp. (PhilHealth) granted to every qualified beneficiary of its Covid-19 community isolation benefit […]