Why a COVID Diagnosis Could Cost You Way More Money in 2021

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Sumary of Why a COVID Diagnosis Could Cost You Way More Money in 2021:

  • But some people did get a big bill because their insurer refused to waive cost-sharing, and their debts provide a good idea of what many hospitalized COVID patients will have to pay this year, Chua said..
  • “Insurers seem to be acting like the pandemic is over, and we feel that it’s premature for them to be acting in that manner.”.
  • For this study, Chua and his colleagues reviewed claims data for multiple insurers across the United States, looking specifically for people who got a full bill for their COVID hospitalization..
  • They identified more than 4,000 hospitalizations between March and September 2020 where it didn’t appear the insurer waived cost-sharing..
  • Folks who didn’t benefit from cost-sharing waivers wound up paying about $3,800, on average, out of pocket if they had private insurance and an average of $1,500 if they were covered by a Medicare Advantage plan, the data showed..
  • “Now that insurers are abandoning their cost-sharing waivers, that’s approximately what the bills might be for patients covered by plans that have chosen to do that,”.
  • said Cheryl Fish-Parcham, director of access initiatives at Families USA, a national nonpartisan consumer health care advocacy organization..
  • Chua’s team also found that even those who benefited from some sort of cost-sharing waiver still wound up paying for part of their COVID hospital care….

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