COVID-19 pandemic could cost as much as $547 billion for private insurers

The American’s Health Insurance Plans (AHIP) commissioned a report looking at the utilization of medical services associated with COVID-19 infection and the costs for such services and found; based on the rate of infection, the estimated costs for treating COVID-19 could add up as much as $547 billion for private insurers from 2020 to 2021.  The report looked at the modeled infection rates based on 10 percent, 20 percent and 60 percent of the total population while acknowledging that the true infection rate could be far lower. The lower the infection rate would lead to a total cost of $30 billion to $92 billion from 2020 to 2021 while the higher infection rate would cost insurers the greatest with a range of $180 billion to $547 billion. Read article here…

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