COVID-19 Treatment, Testing Costs Could Reach $417 Billion Over Next Year
With the novel coronavirus spreading across the nation, both private health insurers and public payers could see heavy economic costs. According to a recent paper prepared by Wakely Consulting Group on behalf of America’s Health Insurance Plans, under the baseline risk scenario with a U.S. infection rate of 20%, allowed costs could range from $112.5 billion to $185.4 billion over 2020 and 2021 combined. As the ultimate number and severity of COVID-19 cases remain unknown, the estimates have a wide range. Graphics below highlight three different organizations’ estimates for how the pandemic will change U.S. health care costs.
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