It's quite possible that insurance rates will drop.
The very large hospital system that I consult for is now losing $100m a month. They just laid off a huge number of staff last week to save cost. They have dozens of hospital in the midwest and East coast.
Why? Because all the hospital have stopped performing major, moderate, minor and elective surgeries. Only life and death emergency surgeries are being performed. Also ER visits are way way down. This is where they make their money.
The way it was described to me, imagine a very large automobile repair shop. Normally on a regular day, they do engine overhauls, transmission rebuilds, body work and oil changes.
However because of the COVID19 virus, now all they do is oil changes. Even the treatment for a COVID19 patient isn't that expensive (i.e. money maker). The only expensive part is the respirator. COVID19 treatment is basically a bed and a respirator.
Right now Hospitals are losing billions, but insurers are seeing just a fraction of the claims they normally would.
Now this DOES mean pent up demand. But some of that demand will vanish due patient deaths, changed minds on electives and ER visits that just don't occur. Bottom line is fewer claims.
It's counter-intuitive but things of this scale usually are.
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