IC wants hands off on HMOs

The health maintenance organization (HMO) sector may have to be passed around again as the Insurance Commission (IC) is seeking other agencies to handle the sector nearly 10 years after it was placed under its jurisdiction.

-  LOUISE MAUREEN SIMEON

On the sidelines of the Pru Life UK Takaful launch late Monday night, IC commissioner Reynaldo Regaldo said the agency is working with Congress, particularly Rep. Anthony Golez, on how to go about the HMO sector.

Regalado said the IC is still having difficulties in handling the industry given its complexities, unlike the overall insurance sector.

HMOs are entities legally organized to provide or arrange for the provision of pre-agreed or designated health care services to its enrolled members for a fixed prepaid fee for a specified period of time.

"It's not very clear on how we're supposed to be handling them. It's also unfair for the HMOs when they were placed under us because there are so many requirements that we ask of them because they are covered by the anti-money laundering rules," Regalado told reporters.

"They are regulated entities and yet there's no chance of money laundering in HMO products," he said.

It was in November 2015 when then President Benigno Aquino III transferred the jurisdiction of HMOs from the Department of Health (DOH) to the IC.