In the United States, the COVID-19 pandemic has put millions of people out of work. A portion of the newly unemployed and their families are expected to seek health insurance coverage. Some have been furloughed, which allows them to keep their employer-sponsored health insurance while applying for unemployment benefits. Others may be able to find employer-sponsored health insurance coverage with parents or spouses.
Before the Patient Protection and Affordable Care Act (ACA), newly uninsured adults and families could purchase COBRA coverage, individual market plans, or short-term plans, enroll in Medicaid, or participate more fully in federal health options for which they were eligible. Today, newly unemployed adults and their families have the following additional options not available prior to the ACA:
- Individual market plans through the state or federally run marketplaces with federal premium assistance for qualifying households
- Expanded Medicaid coverage in 36 states
- Young adults (under age 26) can enroll in their parents’ employer-sponsored insurance
In this brief, Milliman’s Annie Man and Barbara Dewey discuss the health insurance options available to the newly unemployed and how this may affect the ACA individual market.
Although pricing actuaries are trained to project future
costs in environments of heightened risk, COVID-19 has introduced unprecedented
disruption and uncertainty. The pandemic has affected all aspects of the
healthcare industry and the American economy, altering the landscape in ways
that may both increase and decrease expected costs. This volatile and uncertain
environment also presents an extraordinary challenge for health plans
developing rates for 2021 commercial coverage.
This paper by Milliman’s Jeff Milton-Hall, Tom Murawski, and Doug Norris is intended to help commercial health plans navigate this evolving environment. The authors discuss key considerations for how the pandemic and its aftermath could affect the cost of health insurance coverage in 2021.
Over a five-week period in
March and April, approximately 26 million Americans applied for unemployment
benefits. As a result, many have lost their employer-sponsored health coverage.
The U.S. healthcare system has never had to reenroll this many people this
Fortunately, individuals facing changes in employment have several options for maintaining health coverage. However, navigating those options can be confusing. Among the options are COBRA, the Children’s Health Insurance Program (CHIP), and the Patient Protection and Affordable Care Act (ACA).
In this article, Milliman’s Les Kartchner and Troy Pritchett outline a road map that newly unemployed Americans may find useful as they sort out their options, offering perspective on potential factors that can be expected at the macro level.
Although it is too early to analyze actual healthcare cost data for those who have been treated for COVID-19 in the United States, historical data from patients who have sought medical attention for influenza or pneumonia may be informative for understanding patient out-of-pocket costs due to treatment for COVID-19.
This infographic, based on Milliman’s recent paper, “Potential out-of-pocket costs for patients requiring hospitalization for COVID-19,” depicts what hospital costs could look like for patients admitted for COVID-19, broken down by insurer type, geography, and age.
The 2019 State of the Industry report
from the North American Pet Health Insurance Association shows continued growth
in the pet health insurance market. At the end of 2018, nearly 2.43 million
pets were insured in the United States, an increase of 18% from 2017. Gross written premium also shows similar
increases, growing to $1.3 billion at the end of 2018.
Despite this growth, veterinary daily visits have fallen nearly 19% year over year from March 25 through April 5 as a result of social distancing efforts related to COVID-19. With the decrease in veterinary visits, it’s almost certain that the pet health insurance industry is going to be impacted by COVID-19. At this point, it’s unclear whether that impact is going to be positive or negative.
In this article, Milliman’s Jamie Shooks explores how the pet health insurance industry could be affected by the COVID-19 pandemic.
The COVID-19 pandemic has created many uncertainties for providers and accountable care organizations (ACOs), which can seem overwhelming. Medicare Shared Savings Program (MSSP) ACOs are particularly concerned about the potential for 2020 results to decrease because of the virus. In this paper, Milliman actuaries discuss eight key considerations for MSSP and other risk-sharing arrangements as they assess the impact of COVID-19.