Amendment of the Transitory Provision under CL No. 2017-19: Guidelines on the Approval of HMO Producs and Forms
Insurance Circular Letter No. 2018-20, issued on March 27, 2018, amends the transitory provisions of Circular Letter No. 2017-19 regarding the approval of Health Maintenance Organization (HMO) products and forms in the Philippines. The deadline for HMOs to submit their products and corresponding agreements for approval has been extended from March 31, 2018, to April 30, 2018. HMOs that meet this new deadline can continue selling their existing products until June 30, 2018, provided their submissions are approved by the Insurance Commission. Compliance with these updated guidelines is mandatory for all HMOs.
Law Information
- Reference Number
- Insurance Circular Letter No. 2018-20
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Insurance
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 27, 2018
INSURANCE CIRCULAR LETTER NO. 2018-20
AMENDS: CL No. 2017-19
| TO | : | All Health Maintenance Organizations (HMOs) Doing Business in the Philippines |
| SUBJECT | : | Amendment of the Transitory Provision under Circular Letter (CL) No. 2017-19: Guidelines on the Approval of HMO Products and Forms |
In consideration of the request of the associations of HMOs and to give the Commission more time to evaluate and approve HMO products and corresponding Agreements and contract forms without disadvantaging HMOs, the following clarifications and adjustments to Section 8 Transitory Provision of Circular Letter No. 2017-19 are hereby provided:
1. The deadline for submission of HMO products and corresponding Agreements and contract forms to the Insurance Commission (IC) for approval shall be extended from 31 March 2018 to 30 April 2018. Thereafter, no HMO product shall be sold unless said product and its Agreement and contract forms have been approved by the IC;
2. However, HMOs that have submitted their products and corresponding Agreements and contract forms within the 30 April 2018 deadline shall be allowed to sell their existing products until 30 June 2018.
For strict compliance.
(SGD.) DENNIS B. FUNAInsurance Commissioner
Cite This Law
Amendment of the Transitory Provision under CL No. 2017-19: Guidelines on the Approval of HMO Producs and Forms, Insurance Circular Letter No. 2018-20, Mar 27, 2018 (Philippines)
Amendment of the Transitory Provision under CL No. 2017-19: Guidelines on the Approval of HMO Producs and Forms, Insurance Circular Letter No. 2018-20 (Phil. 2018)
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