Manila: Total healthcare benefits and claims paid out by health maintenance organizations (HMOs) rose by 19 percent to PHP36.29 billion in the first half of the year, the Insurance Commission (IC) said. Data showed that healthcare benefits and claims paid in the same period last year reached PHP30.33 billion.

According to Philippines News Agency, total expenses, including income tax, increased by 19.53 percent to PHP45.56 billion. Despite the increase in the payout of healthcare benefits, the IC reported that the HMO industry continued to record higher revenues during the period.

During the first half, total revenues reached PHP47.03 billion, up by 21.3 percent from last year’s PHP38.7 billion. Total net income also recorded a 131 percent increase to PHP1.47 billion from PHP636.6 million in the same period last year.