Armed With More Data, Analysts Alter COVID-19 Cost Forecasts

As the COVID-19 pandemic ramped up in the U.S. in early spring, actuaries and analysts raced to develop estimates of how the disease associated with this new coronavirus would impact health care costs. Now, with cases declining in some areas and rising in others — and crucially, much more data available — some of those estimates are changing.

One analysis that recently received an update is a Wakely Consulting Group report, which was prepared at the request of America’s Health Insurance Plans and originally released March 30. That report estimated that the direct impact of COVID-19 treatment costs — for commercial, Medicare Advantage and Medicaid managed care insurers — would be in the range of $56 billion to $556 billion for 2020 and 2021 combined. Now, Wakely is estimating a range of $30 billion to $547 billion for those two years, with the former figure representing a low infection rate of 10% and the latter representing a high infection rate of 60%.

0 Comments
© 2022 MMIT
Leslie Small

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

person-holding-a-pencil
September 30

Medicaid Plans Aren’t Properly Reporting MLR Data, OIG Finds

READ MORE
stethoscope-bill-and-pills
September 30

How Would Adjusting the Marketplace Coverage Benchmark to a Gold Plan Affect Affordability?

READ MORE
department-of-justice-building
September 30

Loss in UnitedHealth/Change Trial May Not Lower DOJ’s Deal-Blocking Appetite

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today