Analysis: U.S. premiums could soar next year

According tomedia reports, the longer the outbreak of the new coronavirus continues, the more obvious the economic losses caused by it. Health insurance premiums could soar next year because of all the health care costs associated with the new coronary virus, according to a new analysis from Covered California.

Analysis: U.S. premiums could soar next year

The analysis suggests that these insurers are working on a 2021 rate. If these companies want to start recovering costs and ensure their solvency in addition to maintaining the same level of costs next year, the analysis found that premiums could rise by 40 per cent next year.

“By 2020, there will be no new coronavirus in the health plan,” Peter V. Lee, executive director of Covered California, told the media. No insurance company, no state has a plan and invested in such an important event. “

As of Monday morning local time, the virus had infected more than 143,000 people and killed more than 2,500 people in the United States, according to new data from Johns Hopkins University. Health insurance companies, as well as employers and individuals, may face $34 billion to $251 billion in costs from treatment and testing for the new coronavirus, according to Covered California.