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HMOs return to profit after 2 years of losses
The Philippine Star
|March 03, 2025
The health maintenance organization (HMO) industry finally returned to profitability in 2024 after two years of losses as membership fees increased.
Latest data from the Insurance Commission (IC) showed that the sector's net income reached P979.8 million last year, a significant recovery from the P4.3 billion loss in 2023.
HMOs last recorded a profit in 2021 as the industry reeled from higher releases of benefits and claims among its members in 2022 and 2023.
HMO provider Philhealth Care Inc. president and CEO Jaeger Tanco said the industry's performance in 2024 was a matter of pricing.
"There is an increase in premiums, therefore they are able to cover the medical cost. Medical costs, however, are still increasing," Tanco said in a Viber message.
This story is from the March 03, 2025 edition of The Philippine Star.
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