COVID-19 Projected to Drive Increased Costs for Consumers, Employers

Health Payer Intelligence April 1, 2020
Kyle Murphy, PhD

COVID-19 costs could lead to significant increases in premiums and out-of-pocket expenses for consumers.

A new report warns of rising premiums and out-of-pocket expenses for beneficiaries resulting from healthcare spending to combat the COVID-19 pandemic.

Covered California, the state’s health insurance marketplace, released a policy/actuarial brief projecting between $34 billion and $251 billion will be spent on testing, treatment, and care for COVID-19. The brief is the first national projection of costs tied to the coronavirus pandemic.

The organization, an independent part of the state government, warns that a lack of federal intervention could have significant financial consequences for the American healthcare industry in the coming year.

“Covered California’s analysis shows the impact of COVID-19 will be significant, and that...

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