The Insurance Commission (IC) reported on Friday, Aug. 16, that healthcare benefits paid out by health maintenance organizations (HMOs) rose by 15.7 percent from January to June this year while their net income also increased. In a statement, the IC said HMOs paid P30.33 billion in benefits in the...
The Insurance Commission stated that most health maintenance organization (HMO) providers are expected to meet the planned increase of P100 million in minimum capital requirements, but seven others will be affected. On the sidelines of the 74th anniversary of the Philippine Life Insurance...
The health maintenance organization (HMO) industry has returned to profitability for the first time in the post-pandemic era, the Insurance Commission (IC) said. In a statement, the IC reported that the HMO sector posted a net income of P6.8 million from January to March 2024, a reversal of the...
Insurance policyholders will soon have access to free legal assistance when they need to file a claim or complaint related to insurance, pre-need plans, or health maintenance organization (HMO) services. The Insurance Commission (IC) and the Integrated Bar of the Philippines (IBP) signed a...
Health maintenance organization (HMO) Carehealth Plus Systems International has been placed under conservatorship by the Insurance Commission (IC) due to complaints of inability to provide claims. The IC said in a statement Monday, April 8 that Carehealth will be put under conservatorship to...
Financial woes of health maintenance organizations (HMOs) in the country deepened last year amid surging benefits and claims, the Insurance Commission (IC) reported. According to the IC, the HMO industry reported a net loss of P4.27 billion over the period of January to December 2023, nearly...
Two of President Marcos’ economic managers are pushing for the integration of healthcare coverage as a part of the compensation package for all government employees. Budget Secretary Amenah F. Pangandaman and Finance Secretary Ralph G. Recto both said that the government is now considering...
As the Philippines grapples with increasing healthcare costs, the government is gearing up to conduct a morbidity study aimed at determining reasonable premium rates for insurance companies. The Insurance Commission (IC) and the Actuarial Society of the Philippines (ASP) have joined forces to...
The Insurance Commission (IC) raked in more than half-a-billion-pesos from registration and supervision fees last year, largely fueled by examination fees paid by insurance agents. The IC's data revealed that the agency collected over P518 million from January to December 2023, a 3.83 percent...
The health maintenance organization (HMO) industry recorded a net loss in the first half of the year, reversing the previous year's profit, data from the Insurance Commission (IC) showed. According to the recently released IC report, the HMO sector registered losses amounting to P1.186 billion from...
Benefits and claims paid by health maintenance organizations (HMOs) rose in the third-quarter last year driving by increasing medical needs of the Filipino people, the Insurance Commission said. In a statement on Thursday, Jan. 19, Insurance Commissioner Dennis B. Funa said health care benefits and...
Healthcare benefits and claims rose by 25 percent from October to December last year amid the prolonged pandemic, the Insurance Commission reported on Friday, March 25. In a statement, Insurance Commissioner Dennis B. Funa said health maintenance organizations (HMOs) paid P32.72 billion in benefits...
