Healthcare DIVE October 12, 2020
This year, COVID-19 changed fortunes and caused rapid disruption for health plans and the entire healthcare ecosystem. While fortunes turned bleak for some, health insurers reported record Q2 earnings due to lower than anticipated use of health insurance. These financial windfalls resulted in the kind of public scrutiny on health insurers that’s typically aimed at hospitals and pharmaceutical companies, leading to political scrutiny and a Congressional inquiry on insurer profits.
In an already multifaceted, complex system, COVID-19 created new demands for health plans—such as immediate access to telehealth, waived costs and added support for providers and communities. Health plans have proven that they can immediately adapt and innovate to address these challenges. Many have already issued premium relief to members...
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