Medicard Philippines Inc., Asalus Corp. (Intellicare) and Insular Health Care Inc. posted the highest net incomes among the country’s health maintenance organizations (HMOs) in the first quarter of 2025, based on a report published by the Insurance Commission (IC).
A report available on the IC’s website as of Thursday cited Medicard as having posted P159.656 million in net income, while Intellicare made P111.908 million and Insular Health P104.302 million.
Medicard‘s strong bottom line is a reversal from its P235.926 million net loss incurred in the same period last year.
Intellicare‘s net income surged 156.79 percent from the year-earlier P43.579 million, while Insular Health registered a 210.89 percent increase from P33.55 million.
Just last month, the IC reported an increase of 8,441.97 percent in the total net income of the HMO industry in the first quarter of the year, amounting to P 579.386 million from P6.783 million a year earlier.
“This significant increase demonstrates the industry’s sustained recovery from the impact of the pandemic,“ Insurance Commissioner Reynaldo Regalado said in a statement last month.
“Notably, this growth is attributable to the 26.15 percent increase in collection of membership fees, which accounted for 97.52 percent of the total revenues of the industry,” he added.
HMO companies’ membership fees rose to P22.419 billion in January to March 2025 from P17.771 billion in the same period last year.
The commission obtained its data from
unaudited financial statements submitted by 28 HMOs, which compare with the 24 submissions in the first quarter of 2024. “These statistical growths are not just mere numbers. They are reassuring indicators that the HMO industry continues to be a strong and reliable industry that affords Filipinos with healthcare security, ultimately uplifting Filipino lives,” Regalado said.
