19 May HMO Industry Reports Record Q1 2025 Growth; iCare Continues to Offer Affordable Healthcare Plans
The Philippine Health Maintenance Organization (HMO) industry posted a historic 8,441.97% increase in net income in the first quarter of 2025, according to the official press release from the Insurance Commission. Total industry profits rose from PHP 6.78 million in Q1 2024 to PHP 579.39 million in Q1 2025, marking a remarkable turnaround and reinforcing the sector’s vital role in safeguarding Filipino health.
This growth, outlined in the Insurance Commission’s report, was fueled by a 26.15% increase in Membership Fee collections and a 17.41% rise in healthcare benefits and claims paid. While medical inflation remains a persistent challenge, the industry has shown resilience through better risk management, expanded coverage, and more sustainable operations.
One of the standout performers in this environment is iCare (Insular Health Care, Inc.), which continues to reinforce its position as a leading provider of affordable, accessible healthcare plans in the Philippines. Based on the Insurance Commission’s 2024 data, iCare ranked among the top HMOs in net income and stood out for maintaining one of the best medical loss ratios in the industry.
“The growth in the first quarter reflects the increasing need for dependable healthcare coverage that remains affordable despite rising medical costs,” said Geronimo V. Francisco, President and CEO of iCare. “At iCare, we remain focused on financial discipline, digital innovation, and member-first service.”
In addition to its operational efficiency, iCare has made strategic moves to expand access to healthcare through corporate partnerships and digitally enabled services. Its membership continues to grow across individual, family, and enterprise segments, with strong interest from companies seeking dependable and cost-effective healthcare coverage.
Earlier this year, iCare highlighted its partnership approach to expanding healthcare access, offering tailored and tech-enabled solutions for organizations nationwide. These collaborations are part of iCare’s broader strategy to address the healthcare needs of a diverse and growing market while keeping pricing competitive amid inflationary pressures.
The Philippine Daily Inquirer also pointed to the impact of expanded HMO coverage among public-sector employees as a driver of overall profitability in the industry. This broader participation reflects a growing trust in HMOs as essential partners in public and private health financing.
With total industry assets up by 22.67%, invested assets rising by PHP 6.05 billion, and retained earnings increasing by 120.49%, the HMO sector is regaining financial strength. iCare’s continued focus on delivering high-value healthcare while managing costs positions it as one of the most reliable choices for individuals and businesses looking to secure quality health protection.
Explore best affordable HMO plans today at www.icare.com.ph
