The analysis shows a historical deterioration in assets, liabilities and solvency of the health insurance system.
A report from Así Vamos en Salud revealed a profound deterioration in the finances of the EPS: negative equity of $11.3 billion, record liabilities and claims rates above 100%. Eight entities are at extreme risk of insolvency and several do not provide recent reports, making regulatory decisions difficult.
A think tank report Thus Vamos en Salud presented an alarming financial situation of the Health Promotion Companies (EPS) corresponding to the third quarter of 2025.
The document, supported by the financial catalogs published by lto National Health Superintendencereveals a deep and sustained deterioration in the financial structure of health insurance for the last eight years.
He says that the figures are conclusive: the negative equity of the EPS amounts to $11.3 billionalmost triple that registered in 2023. The passive reached their all-time high with $27.5 billionan increase of 56% since 2017, while assets, which were growing steadily until 2023, fell sharply in 2024 and stagnated in 2025.
“Heritage: remains in figures negative throughout the entire period; went from -3.8 trillion (2023) to -7.1 trillion (2024) and reached -11.3 trillion in 2025, an unprecedented deterioration“, indicated the document.
One of the most significant caveats of the analysis is the absence of financial reports by the company. New EPS from 2024.
“This lack of information makes it difficult to obtain a complete reading of the panorama, and could mean that the real figures for the sector are even worse than those reflected,” he said.
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He patrimonial deterioration It has become a constant. Between 2023 and 2025, the deficit It almost tripled, going from -$3.8 trillion to -$11.3 trillion. In this period, operating losses have also grown without signs of reversal:
- In 2024: $3.1 billion
- In 2025 (as of September): $3.8 trillion
For its part, The accident rate has remained above 100% since 2021which indicates that EPS income is not enough to cover users’ medical costs.
The report analyzes the impact of the SU-277 ruling of July 2025, which annulled the state intervention of EPS Sanitas. However, the data shows that the entity failed to recover after the return:
- Equity: from -$57 billion (2023) it went to -$309 billion (2024) and plummeted to -$2 trillion in 2025.
- Operational result: losses of $286 billion in 2023, $433 billion in 2024 and $1.1 trillion in 2025.
The cumulative effect of the intervention period would have deepened the financial crisis of this EPS.
The report warns of situations of extreme risk in terms of debt. Eight EPS owe between three and seven times their assets, a severe sign of insolvency: Savia Salud, Mallamás, SOS, Dusakawi, AIC, Emssanar, Famisanar and Capresoca.
This level of passive It implies that even with the total liquidation of assets they would not be able to cover their obligations.
Although EPS such as Mutual Ser, Compensar, Capital Salud, Sura and Familiar de Colombia have more manageable indicators, the sector average is 1.7, evidence of a fragile and pressured financial system.
As of September 30, 2025:
- 8 EPS are down preventive measure or intervention.
- 2 EPS remain in special surveillance.
- Only 8 EPS provide recent financial informationmaking timely intervention and complete system analysis difficult.
Así Vamos en Salud says that the magnitude of the financial deterioration requires urgent and structural decisions to avoid the deepening of the crisis and protect the health care of millions of Colombians.
“The sustainability of the system and the timely attention of users depend on firm and timely decisions,” the document emphasizes.
Source: Integrated Information System
