Medical Economics April 14, 2020
The COVID-19 coronavirus pandemic could cost insurance companies huge sums of money, according to a report from American Health Insurance Plans.
The report projects costs of between $56 billion and $556 billion between 2020 and 2021 depending on an infection rate between 10 percent and 60 percent. Of those sums, between $10 billion and $78 billion would be made up of enrollee cost sharing. While these numbers represent the two extremes of infection rates, the report takes a 20 percent infection rate as a baseline which would see costs of between $112.5 billion and $185.4 billion, with between $20 billion and $26 billion in cost sharing.
Based on that 20 percent baseline infection with a low hospitalization rate, the report...
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