COVID-19 May Have This Shocking Effect on 2021 Health Insurance Premiums

The company polled all of the health insurers with which it has a business relationship from March 30 through April 2. More than half of the insurers — 33 — filled out and sent in their questionnaires.

Resources

• A copy of the eHealth survey report is available here.
• An article about Fair Health's COVID-19 cost forecast is available here.

Some of the participating insurers are in the group market, and some in the individual and family market.

Although 17% of the insurers said they think COVID-19 could lead to an increase in rates, none predicted COVID-19 would increase 2021 rates by more than 5 %, according to eHealth.

Here are some of the other survey results:

• COVID-19 diagnostic tests: 32 of the 33 insurers said they're waiving deductibles and other out-of-costs for testing.
• COVID-19 treatment: 19 of the insurers said they're waiving out-of-pocket costs for COVID-19 treatment.
• Telemedicine: 32 of the insurers are seeing enrollees making more use of telemedicine services.
• Pent-up demand for care: Shelter-in-place rules and consumer and provider worries about infection have been causing a sharp reduction in preventive care and routine care. About 80% of the insurers polled — 26% — told eHealth they expect the current difficulties with getting care to lead to a spike in medical claims once the COVID-19 crisis is over..

— Read What If COVID-19 Lowers Health Claims?, on ThinkAdvisor.

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