Health insurance premiums could skyrocket: analysis

[Yo_Mama_Been_Loggin]

Health insurance premiums could skyrocket because of the coronavirus pandemic, according to analysis released last week.

Premiums could jump as much as 40 percent next year if the coronavirus ends up hospitalizing millions of Americans, state insurance marketplace Covered California's analysis warned.

The analysis also found that Insurers, employers and individuals are expected to pay anywhere from $34 billion to $251 billion in additional costs for testing and treating COVID-19. A liberal estimation would boost the about $1.2 trillion costs per year by 20 percent or more, potentially leading to a 40 percent increase in premiums.

Covered California's analysis applies to the commercial insurance market that represents coverage offered to 170 million workers and individuals through private health plans but not to Medicare and Medicaid.

https://www.msn.com/en-us/news/us/health-insurance-premiums-could-skyrocket-analysis/ar-BB11SdbI?li=BBnb4R7

[jimfields33]

1. Seems like congress needs to investigate this.

The insurance companies are not paying for this. The federal government is. Something is smelling. Of course, there’s other real discussion that could change everything, but I’ll refrain.

[lunasun]

2. +1

[BigmanPigman]

3. Everyone's insur increased 20% last year.

So I guess this means my rates will go up 60% next year. Oh goodie. You have a choice, go bankrupt or die.

https://www.bls.gov/news.release/cpi.t02.htm

[safeinOhio]

4. Medicare for all

anyone?

[Locrian]

5. if this isn't an argument for mediacare for all I don't know what is...

Although I've seen disgusting posts that say we can't bring it up.
Likely from people who HAVE coverage.....

But seriously.... we need a complete overhaul of our civil defense stockpiles, our treatment, and healthcare system. And it includes solving the problem of 68,000 who die every year from lack of HC. Not to mention CV19

[customerserviceguy]

6. The good news is

I'm eligible for Medicare before the end of this year.

Also, let's face it, this crisis will be the thing that gets us to single payer faster than anything else would.

[Dirty Socialist]

7. My Prediction

The Health Insurance “Industry” will collapse next year. The government will have to take over.