Health maintenance organizations (HMOs) in the Philippines recorded stronger revenues in the first half of 2026 despite higher benefit and claims payouts, with increased membership fee collections driving the industry’s growth.
Latest data from the Insurance Commission (IC) showed HMO revenues climbed 20 percent to P56.43 billion in the first six months of 2026 from P47.03 billion a year earlier.
Of total revenues, membership fees accounted for P54.82 billion, up 19.7 percent from P45.79 billion in the same period last year.
Total expenses nearly kept pace with the increase in revenues, rising 19.3 percent to P54.34 billion from P45.56 billion.
The increase was driven mainly by higher benefit and claims payouts, which grew 13.6 percent to P41.23 billion from P36.29 billion.
‘Despite the higher payouts, the HMO industry maintained a strong financial position, supported in part by the increase in total revenues driven by higher collections from membership fees,’ the IC said.
‘The Commission recognizes the HMO industry’s positive performance as a testament to its financial resilience and capacity to meet its obligations, and remains committed to supporting its continued development to better respond to the increasing demand for healthcare services,’ it added.
Other financial indicators also showed stronger positions among HMOs during the period.
Invested assets jumped 49 percent to P27.17 billion from P18.23 billion a year earlier, marking the fastest growth among the industry’s major financial indicators.
Total assets increased 18.8 percent to P99.64 billion from P83.91 billion.
Total liabilities rose 15.7 percent to P83.65 billion from P72.25 billion.
Meanwhile, total equity surged 37.2 percent to P15.99 billion from P11.66 billion.
Total capital stock likewise increased 15.5 percent to P7.66 billion from P6.63 billion
As of the end of August, there were 27 HMOs licensed by the regulator