Coronavirus May Add Billions to the Nation’s Health Care Bill (medical, plan)

[Vision67]

Insurance premiums could spike as much as 40 percent next year, a new analysis warns, as employers and insurers confront the projected tens of billions of dollars in additional costs of treating coronavirus patients.

https://www.nytimes.com/2020/03/28/h...increases.html

"With so much still uncertain about how widespread hospitalizations for coronavirus patients will be around the United States, a new analysis says premiums could increase as much as 40 percent next year if the pandemic results in millions of Americans needing hospital stays.

“Health plans went into 2020 with no hint of coronavirus on the horizon,” said Peter V. Lee, the executive director of Covered California, the state insurance marketplace created under the Affordable Care Act, which conducted the analysis. To protect businesses and individuals from sharply higher rates, he supports a temporary federal program that would cover some of these costs.

“No insurer, no state, planned and put money away for something of this significance,” Mr. Lee said."

I think this pandemic will crash the healthcare system.

[Nanny Goat]

It's already teetering, won't take much to push it off the cliff. I'm sure premiums will rise. I'm sure the Democrats willl be discussing this after the pandemic cools down a bit.

[Angie682]

I work for an insurance company that also administers self-funded employer sponsored ERISA plans. We already have employer groups that are laying off employees, are not able to pay employee claims or excess loss carrier premiums. I think we are going to see lots of self-funded plans go belly up leaving their employees on the hook for their medical expenses.

[flashlight]

I wonder how hard this will hit those health-sharing organizations.

[stepka]

And to top it all off, “uncka Joe” just stated yesterday that if he gets to be president that he has no intention of rocking the boat with insurance companies. Trump said if he gets re-elected that he will roll out a new healthcare plan but Ive seen no evidence that it will actually happen.

[phonelady61]

Originally Posted by stepka

And to top it all off, “uncka Joe” just stated yesterday that if he gets to be president that he has no intention of rocking the boat with insurance companies. Trump said if he gets re-elected that he will roll out a new healthcare plan but Ive seen no evidence that it will actually happen.

I almost bet it will now because of this virus and from what i am reading some people think this virus will not go away , we will have to learn to live and co-ordinate around it . Im not sure how that would work .