woman's arm and hand pointing at up arrow and sideways arrow The May 21 report said companies have strengthened “cash positions to deal with potential coronavirus related contingencies.” (Photo: Shutterstock)

Coronavirus-related costs did not “materially impact” seven major health insurance companies’ first quarter 2020 earnings, which increased slightly over last year, according to a new report from Moody’s Investors Service.

And second quarter earnings for the major U.S. health insurers are currently “looking strong,” according to Moody’s. Its report noted that coronavirus-related insurer costs in the second quarter “will likely be more than offset” by the costs-savings impact of the health care industry deferring nonessential health care procedures as it prioritizes COVID-19 care.

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