The party accused the government of mismanaging the affairs of the country.
The NDC said "Contrary to the flowery and rosy picture that President Akufo-Addo continues to paint at every given opportunity about the health of the NHIS, the fact is that, the NHIS is on the verge of collapse", and said the president "peddled blatant untruth when he claimed that the NHIS is "buoyant and has come back to life."
The party added that the NHIS is in a deplorable state and gasping for liquidity breath.
The National Communications Officer, Sammy Gyamfi, addressing the press at the third edition of Moment of Truth Series, he said: "Currently, the NHIS owes service providers in all the sixteen regions of Ghana claims covering a period of almost twelve (12) months."
Nana Addo revealed that his administration has revived the strength of the NHIS which was being strangled by debt.
During the presentation of his third State of the Nation Address in Parliament, he said "Our NHIS is bright. Debt has been paid and the NHIS has been brought to life."
He said "of the GH¢1.2 billion debt we inherited, the equivalent of $300 million, we have paid, in the last 15 months, GH¢1 billion, the equivalent of $250 million."
READ MORE: NHIS inherited debt cleared - Nana Addo
But the NDC said the GH¢1.2 billion NHIS arrears the President claims he inherited from the erstwhile Mahama government is "mischievous and not borne out by the facts."
He also accused the government of illegally transferring over GH¢17 million of NHIS' funds into a private fund management company, All Time Capital Investment.
"Our painstaking investigations have revealed that upon President Akufo-Addo assuming office – The National Health Insurance Authority without any due diligence… transferred a whopping GH¢17,548,370.20 in three tranches into a private financial house called All Time Capital Limited supposedly as an investment.
"Incontrovertible evidence available to us indicates that despite repeated efforts by the scheme to retrieve the invested funds and accrued interest have failed. The company informed the National Health Insurance Authority that it could affect some payment if only the investment funds were allowed to run for an additional year. This situation is contributing to the worsening financial fortunes of the scheme," he alleged.