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) said.
Data released Wednesday showed that healthcare benefits and claims paid in the same period last year reached P30.33 billion.
Total expenses, including income tax, increased by 19.53 percent to P45.56 billion.
Despite the increase in payout of healthcare benefits, the IC said the HMO industry continued to record higher revenues during the period.
During the first half, total revenues reached P47.03 billion, up by 21.3 percent from last year’s P38.7 billion.
Total net income likewise recorded a 131 percent increase to P1.47 billion from P636.6 million in the same period last year. / PNA