The Insurance Commission (IC) is conducting a comprehensive study of the health insurance industry as part of preparations for the enactment of a law that will regulate the operations of health maintenance organisations (HMOs) in the country.
“We are now doing our own study on health insurance. It seems that the IC never collected any data on health insurance, so we have no ready data on health insurance. Our study is still ongoing,” Insurance Commissioner Dennis B. Funa told the Business Mirror.
He said the comprehensive study on health insurance will enable the IC to fully comprehend how health insurance works in the country, as well as which sectors are still not covered by some form of healthcare service.
The result would be a comprehensive database for the agency that will serve as basis for future reforms on health insurance.
Mr Funa said an HMO law will enable the IC to address issues, such as the level of capitalisation that will be required from HMOs, how to settle disputes between the company and its members if any, and how to eliminate overlapping policies governing HMOs.
The healthcare system in the Philippines consists of both private and public medical services, with public health insurance provided by PhilHealth, while life insurance companies offer private health insurance, among others. PhilHealth covers around 90% of the population or around 93.4 million Filipinos in its National Health Insurance Programme.