IC: 7 HMOs not meeting rule on minimum paid-up capital

Quick Summary:

The Insurance Commission (IC) is set to immediately implement the planned minimum paid-up capitalization of health maintenance organizations (HMOs) as only 17 of the 24 accredited HMO providers in the Philippines have met the rule for a minimum paid-up capital of P50 million.

Regalado stressed this will help the public scrutinize the capital of their HMO providers and their ability to cover them.“This is risk management.

Community-based and cooperative HMOs shall also maintain a paid-up capital equivalent to 50 percent of what is prescribed for a regular HMO.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Health Capitalization Insurance Minimum Regalado Providers Capital Hmos Million Paid-up Care

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 14:25:03 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 505 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 21873715

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