More than 80 million people in the U.S. are currently uninsured or underinsured and millions more are losing their employer-provided insurance as the jobless rate spikes due to the coronavirus crisis.
Research conducted by Covered California is warning that U.S. health insurance companies could hike already exorbitant premiums by 40 percent or more next year.
America's healthcare system is driven first and foremost by the profit motive and it is ill-equipped to provide necessary care for all, particularly in a time of nationwide crisis.
Covered California found (pdf) that "if carriers must recoup 2020 costs, price for the same level of costs next year, and protect their solvency, 2021 premium increases to individuals and employers from COVID-19 alone could range from 4 percent to more than 40 percent."
It could result in even more "consumers and employers no longer being able to afford coverage, leading to employer groups dropping coverage or individuals deciding to go uninsured."
Research conducted by Covered California is warning that U.S. health insurance companies could hike already exorbitant premiums by 40 percent or more next year.
America's healthcare system is driven first and foremost by the profit motive and it is ill-equipped to provide necessary care for all, particularly in a time of nationwide crisis.
Covered California found (pdf) that "if carriers must recoup 2020 costs, price for the same level of costs next year, and protect their solvency, 2021 premium increases to individuals and employers from COVID-19 alone could range from 4 percent to more than 40 percent."
It could result in even more "consumers and employers no longer being able to afford coverage, leading to employer groups dropping coverage or individuals deciding to go uninsured."
Peter V. Lee, executive director of Covered California said in a statement. "Consumers will feel these costs through higher out-of-pocket expenses and premiums, as well as the potential of employers dropping coverage or shifting more costs to employees."
"These increased costs could mean that many of the 170 million Americans in the commercial market may lose their coverage and go without needed care as we battle a global health crisis,"
Last week, a 17-year-old boy in Los Angeles County died from complications believed to have been caused by COVID-19 after he was denied treatment at an urgent care center. The reason: he was uninsured.
"He didn't have insurance, so they did not treat him," said R. Rex Parris, the mayor of Lancaster, California.
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