Fierce Healthcare April 16, 2020
Insurers are under the gun to issue premium rates to state regulators in the next couple of months. But the unknown cost impact of COVID-19 poses a massive challenge, according to a new analysis.
A report backed by America’s Health Insurance Plans estimates a wide range of costs to insurers based on infection rate: from $56 billion to $556 billion. That uncertainty could lead some to drop coverage entirely or to raise prices substantially, researchers at the Kaiser Family Foundation (KFF) warn.
“The consequences of guessing wrong could be dire for some insurers,” the researchers wrote. “Insurers may have an incentive to over-price their plans, particularly on the individual market where many enrollees are subsidized and sheltered from...
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