The Insurance Commission (IC) and the Philippine Health Insurance Corporation (PhilHealth) have agreed to conduct an examination of the latter’s key insurance processes.
According to a statement by PhilHealth, which runs the country’s national health insurance program, the six-month agreement will see the IC assess PhilHealth’s financial condition of PhilHealth, as well as its methods of transacting businesses. These include: premium contribution, collection, fund management, benefit payouts and other health packages, insurance benefits, payment of benefits process, internal control system and actuarial valuation.
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