One-year projected costs of coronavirus to the commercial market could hit $251 billion

The projected expenses for 170 million Us residents in the professional well being insurance coverage market – which contains the personal, small-group and substantial-group markets – for tests, therapy and care precisely linked to the COVID-19 coronavirus will assortment from a small of $34 billion to $251 billion or a lot more in the very first yr of the pandemic.

Which is according to Covered California, which on Monday introduced what it explained was the very first nationwide projection of healthcare expenses due to the coronavirus pandemic.

The quantities suggest a considerable affect. The $251 billion worst-case situation could be realized if you will find no federal action to sluggish the spread, and customers will sense these improved expenses by increased out-of-pocket charges and rates. There is also the potential of employers shifting a lot more expenses to personnel, or dropping coverage entirely.

Covered California’s main actuary, John Bertko, prepared

Read More