CTNJ: Analysis — Will COVID-19 Make Health Insurance Premiums Skyrocket?

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Not necessarily. COVID-19 could cost the US between $34 billion and $251 billion for testing, treatment and care. Some analysts have predicted that premiums will rise between 4% and 40% next year because of the pandemic. Because consumers, taxpayers and workers ultimately pay the bills, from our taxes, our lost wages, our premiums, and directly from our pockets, those costs will fall on all of us. As premiums rise, fewer people can afford coverage, and the uninsured rate goes up. This is both healthcare and insurance, so of course it’s complicated. Read more