Icare Hmo

What Icare Hmo does

iCare, Inc. is a privately held Health Maintenance Organization incorporated and operating in the Philippines since 1990, licensed by the Insurance Commission to provide managed-care health coverage. The company underwrites and administers a portfolio of membership plans targeting employers and individuals — Corporate Plan (5–1,000+ employees), SME Plan (5–99 employees), Individual Plan, Family Plan, Premium Plan (with up to Php 5,000,000 in annual hospitalization benefits and a Singapore health institution partnership), Fee for Service (pay-per-use from a medical fund), and a sachet-type Prepaid Plan distributed via e-commerce since 2019.

Its service backbone is a digital health platform that combines a member-facing mobile app (LOA requests, reimbursements, digital member cards, medicine reminders, wellness tracking) with Telemed7, a telemedicine service offering doctor consultations within 7 minutes including prescriptions and medical certificates. iCare monetizes primarily through recurring annual premiums for corporate and family plans and through usage-based fees and sachet purchases for prepaid and fee-for-service plans; distribution is multi-channel, combining direct enterprise field sales supported by an HR portal, an accredited broker network with a five-step onboarding and commission structure, e-commerce prepaid sales, and self-service via the mobile app.

The company operates a nationwide provider network of 2,000+ accredited hospitals and clinics and 50,000+ doctors, maintains an Insular Life cross-marketing affiliate relationship, and runs value-added wellness programs (Sleep Better, Better You chronic disease management, Better Days mental health, She Cares women's health) that extend its proposition beyond claims administration. Headcount has grown from approximately 150 to over 200 employees, and the company has been recognized as one of the Top 25 Fastest-Growing Companies in the Philippines by Statista and the Philippine Daily Inquirer in 2023.

Name

Icare Hmo

Legal name

iCare, Inc.

Website

https://icare.com.ph

Company type

Private

Founded year

1990

Operating status

Operating

Short description

iCare HMO is a Philippines-licensed Health Maintenance Organization that underwrites corporate, SME, individual, family, premium, and prepaid health plans, delivering care through a 2,000+ hospital provider network and a digital platform featuring telemedicine and a member mobile app.

Ownership category

akta.pro rank

Headquarters

HQ city

Makati City

HQ country

Philippines

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. HMO Membership Premiums: Recurring annual or multi-year premiums charged to corporate clients (5-1000+ employees), SMEs (5-99 employees), individuals, and families for comprehensive healthcare coverage including emergency, preventive, outpatient, and inpatient care
2. Prepaid Plans: Sachet-type prepaid health plans introduced in 2019, sold through e-commerce platforms for pay-as-you-go healthcare access
3. Fee for Service: Flexible healthcare plan based on a medical fund where clients pay only for services actually used rather than fixed premiums

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

iCare is a Philippine Health Maintenance Organization that sells tiered HMO plans covering emergency, preventive, outpatient, and inpatient care to corporates (5-1000+ employees), SMEs, individuals, families, and prepaid/sachet card buyers. Members access care through a 2,000+ hospital and 50,000+ doctor accredited network, with services enabled by the Telemed7 telemedicine platform, the iCare Mobile App, and an HR portal for corporate benefit management.

Product overview

iCare HMO is a Health Maintenance Organization in the Philippines offering a comprehensive portfolio of health insurance plans and digital health services. The core product lineup includes Corporate Plan (for 5-1000+ employees with HR management portal), SME Plan (for 5-99 employees), Fee for Service (flexible pay-per-use), Individual Plan, Family Plan, Premium Plan (with Php 5M coverage and Singapore partnership), and Prepaid Plan (sachet-type affordable options). These plans are supported by digital health modules including Telemed7 (telemedicine with 7-minute consultations), iCare Mobile App (LOA requests, reimbursements, digital cards, wellness tracking), and wellness programs such as Sleep Better Program, Better You Program (chronic disease management), Better Days Program (mental health), Women's Health: She Cares, and Maternity Care coverage.

Differentiator

Problem solved

Functional benefit

Brands

• Telemed7: A telemedicine service developed by iCare to provide convenient access to healthcare professionals, ensuring members get doctor consultation within 7 minutes, including prescription and medical certificate.
• Sleep Better Program
• Better You Program
• Better Days
• She Cares

Products and services

• Corporate Plan Comprehensive HMO coverage for companies with 5-1000+ employees across IT-BPM/BPO, FMCG, retail, logistics, banking, manufacturing, and other industries, featuring a user-friendly HR portal for benefits management, billing, enrollment, and member updates.
• SME Plan Affordable HMO program designed specifically for startups and small businesses with 5 to 99 employees, providing comprehensive healthcare coverage at a budget-friendly price point.
• Fee for Service Flexible healthcare plan based on a medical fund where members pay only for services actually used rather than fixed premiums, designed for those who prefer pay-as-you-go medical spending.
• Individual Plan Professional range of HMO health coverage options designed for self-employed professionals who need personal healthcare coverage outside employer sponsorship.
• Family Plan One of the most comprehensive family HMO plans in the market, providing coverage for multiple family members including maternity care, well-baby care, and pediatric services.
• Premium Plan Top-tier HMO plan featuring annual hospitalization benefits of up to Php 5,000,000 and access to international healthcare services through a partnership with a Singapore health institution.
• Prepaid Plan Affordable prepaid HMO plans in sachet-type packaging, launched in 2019 and sold through e-commerce platforms as a pay-as-you-go option to expand healthcare accessibility to mass-market consumers.

Quantifiable outcome

• 7-minute doctor consultation through Telemed7 telemedicine service
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, minor and strategic.

• Dr. Wong Sheau HwacoreStrategic or Co-development PartnerSleep expert and psychiatrist from SW Wong Sleep and Psychological Wellness Clinic, also Visiting Psychiatrist at Singapore General Hospital's Sleep Disorders Unit. Developed iCare Sleep Better program as a science-based initiative focused on education, behavior modification, and long-term wellness for shift workers.
• Mu Sigma PhicoreStrategic or Co-development PartnerFirst medical sorority in the Philippines and Asia. Engaged in Health Education and Literacy Campaign including Quisumbing Escandor Film Festival (health awareness filmmaking competition) and Project H20 (portable water filtration for disaster-affected communities).
• St. Luke's Medical CentercoreTechnology or IntegrationAccredited hospital partner providing quality healthcare services to iCare members. Referenced as trusted healthcare institution and top hospital network in Philippines.
• Makati Medical CentercoreTechnology or IntegrationAccredited hospital partner providing quality healthcare services to iCare members. Referenced as trusted healthcare institution.
• Asian HospitalcoreTechnology or IntegrationAccredited hospital partner in iCare's network of 2,000+ partner hospitals and clinics.
• The Medical CitycoreTechnology or IntegrationAccredited hospital partner in iCare's network of 2,000+ partner hospitals and clinics.
• Cardinal Santos Medical CentercoreTechnology or IntegrationAccredited hospital partner in iCare's network of 2,000+ partner hospitals and clinics.
• Metropolitan Medical CentercoreTechnology or IntegrationAccredited hospital partner in iCare's network of 2,000+ partner hospitals and clinics.
• The Insular Life Assurance Company, Ltd.minorGTM or Marketing PartnerAffiliate company for cross-selling and cross-marketing purposes. Personal data may be shared for marketing communications relating to products and services.
• Singapore Health InstitutionstrategicStrategic or Co-development PartnerPartnership with top Singapore health institution for Premium Plan, providing members with access to international healthcare standards and services.
• Crown Worldwide Movers, Inc.minorOthersThird-party offsite document storage facility for inactive files during retention periods. Implements reasonable and appropriate organizational, physical, technical, administrative, procedural and security measures for data protection.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cocolife Healthcare: Cocolife provides HMO and health maintenance services in the Philippines targeting corporate and individual markets. It is comparable as another mid-sized HMO competing in the same enterprise and family plan categories.
• Maxicare Healthcare Corporation: Maxicare is the largest HMO in the Philippines, offering corporate, SME, and individual plans with a similarly extensive hospital network. It is iCare's most direct competitor for enterprise HMO contracts across the same verticals (BPO, banking, manufacturing).
• Asian Life & Healthcare Assurance Corporation: Asian Life offers HMO and health insurance products in the Philippines including corporate group plans. It competes with iCare in the SME and corporate segment with similar plan structures and provider network breadth.
• Intellicare (Aventus Medical Care): Intellicare is a top-3 Philippine HMO serving corporate and individual segments with a comparable provider network and digital portal. It competes head-to-head with iCare for enterprise accounts and offers analogous plan tiering and wellness programs.
• Kaiser International Healthgroup: Kaiser International Healthgroup offers HMO and healthcare solutions in the Philippines including corporate and individual plans. It competes with iCare for enterprise accounts with similar plan tiering and wellness offerings.
• Health Maintenance Inc. (HMI): HMI is a Philippine HMO providing corporate and individual health plans with a network of affiliated hospitals and clinics. It competes directly with iCare in the same enterprise and SME verticals.
• Pacific Cross Insurance: Pacific Cross offers health insurance and HMO-style plans in the Philippines with comparable corporate and individual products. It is comparable in targeting the same enterprise and expatriate segments that iCare serves with its Premium and Family plans.
• MediCard Philippines: MediCard is a long-standing Philippine HMO with strong presence in corporate and family plans, plus its own clinic network. It is a direct competitor in iCare's primary corporate and family plan segments.

Broad incumbents

• PhilHealth (Philippine Health Insurance Corporation): PhilHealth is the government-run national health insurance program providing baseline coverage to all Filipinos. It is not a direct competitor for premium corporate plans but defines the floor of healthcare coverage that private HMOs like iCare build upon.

Others

• Insular Life (The Insular Life Assurance Company): Insular Life is an affiliate of iCare (per the privacy policy) engaged in cross-selling/marketing, and is a major Philippine life insurance provider. It is adjacent because of the affiliate relationship and shared customer base, though it sells life insurance rather than HMO products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• LinkedInlinkedin.com/company/yestoicare
• Facebookfacebook.com/iCareHMO
• Instagraminstagram.com/icarehmo

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icare Hmo