Not since 2008’s great recession have markets tumbled so fast. As of April 1, the Dow sunk from a record high of nearly 30,000 to nearly 20,000 – losing a third of its value in less than 30 days. How bad it will get, and how long it will take to recover is, again, uncertain.
As more people either lose their jobs or become furloughed without pay due to the ongoing COVID-19 pandemic, a few questions remain: What is the future of employment and health insurance covered lives? How many of the 160 million covered lives – nearly half of all Americans – will drop off employers’ rolls and switch to the Affordable Care Act (ACA) exchanges, go on Medicaid, or become uninsured? How many small group employers will drop coverage altogether?
A new article from Howard Lapsley and Greg Berger, Partner and Principal in Oliver Wyman’s Health & Life Sciences practice, respectively, examines the immediate steps healthcare industry stakeholders should take in response to the rapidly evolving novel coronavirus pandemic. Oliver Wyman is an affiliate of Guy Carpenter.