HMO benefits, claims up 19% in first half – IC

Total healthcare benefits and claims paid out by health maintenance organizations (HMOs) rose by 19 percent to P36.29 billion in the first half of the year, the Insurance Commission (IC) reported last week.

The figure was higher than the P30.33 billion in benefits and claims paid in the same period last year.

Total expenses, including income tax, also grew by 19.53 percent to P45.56 billion.

Despite the increase in payouts, the IC said the HMO industry posted stronger revenues during the period, reaching P47.03 billion—up 21.3 percent from last year’s P38.7 billion.

Net income likewise jumped by 131 percent to P1.47 billion from P636.6 million a year ago.