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Instant Insights / How the Coronavirus Affects HR, Benefits, and Retirement Professionals

Dealing with COVID-19's massive impact on employers, employee benefits, 401(k) and pension plans, health insurance, and more.


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piggy bank with IV line For the 10 percent scenario, the study estimated total costs in the $56 billion to $93 billion range, for the 2020-2021 time period. (Photo: Shutterstock)

The health care costs of the COVID-19 pandemic in the US is just beginning to come into focus, with a range of estimates on what those costs could be. The latest, from the nation’s largest health insurance industry group, predicts costs between $56 billion to $556 billion over the next two years—depending on many factors, including how many Americans are infected, how widely social distancing efforts are adopted, and the availability of testing and other medical resources.

The new analysis was released by America’s Health Insurance Plans (AHIP), based on research by Wakely, an actuarial group that specializes in health care. AHIP notes that the research is based on data available as of March 28, and with the rapidly changing realities of a worldwide pandemic, will need to be revised over time.

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