Covered CA: 2021 Marketplace Premiums Could Increase 40% Due To COVID-19

The costs of testing and treatment for COVID-19 could reach up to $251 billion nationwide in the first year, which could hike premiums by up to 40% in 2021, but a reinsurance mechanism that helps mitigate the unforeseen costs for the individual, employer and Medicaid managed care programs could provide needed certainty, according to analysis by Covered California Chief Actuary John Bertko. The report finds the one-year costs of diagnosing and treating COVID-19 could range from $34 billion to $251...