Modern Healthcare June 30, 2020
The Society of Actuaries launched a tool on Tuesday to help health insurers and state regulators predict how the COVID-19 pandemic will affect healthcare costs, as they determine premiums for 2021.
The publicly available tool, funded by a Robert Wood Johnson Foundation grant, allows users to come up with a range of forecasts for how healthcare costs could increase amid the COVID-19 outbreak compared to a scenario in which the pandemic never happened.
It is meant to facilitate conversations between insurers and regulators and help users “understand the first wave and plan for a variety of potential future scenarios of COVID-19, as well as to see how the different factors play out over time, such as when there is a...