Salon April 5, 2020
Insurance companies may respond to cost increases as high as 21% by hitting individuals with 40% premium hikes
Private health insurers are expected to raise premiums by as much as 40% to recoup the costs of coronavirus testing and treatment, according to a new analysis from Covered California, the state’s health care marketplace.
Though it remains unclear how much the coronavirus crisis will ultimately cost in health care expenditures, insurers will be submitting their 2021 rates to state regulators next month. Analyzing a wide range of models, Covered California expects that this year’s care associated with the virus will cost between $34 billion and $251 billion, or between 2% of premiums and 21% of...
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