Here we highlight the top stories of 2020 that GC Capital Ideas has presented on managing risks associated with healthcare.
1. COVID-19 – Current and Future Impacts on Medical Insurance: Throughout the COVID-19 pandemic, Guy Carpenter is continually connecting with clients and business associates to gather the key questions health insurers are asking along with the range of potential outcomes. In support of this goal, during Guy Carpenter’s webinar, Impact of COVID-19 on Medical Reinsurance, we asked 109 leaders in the health insurance industry to provide their input on three key questions related to the impact of COVID-19 on the industry. This briefing provides a high-level review of the survey answers.
2. Which Types of Carriers and Reinsurance Coverages are Most Impacted by COVID-19: As the COVID-19 situation is changing on a daily basis, the impact to the insurance and reinsurance markets is not yet fully known. However, given the significance of the developments, Guy Carpenter is providing the following view of how COVID-19 may impact the medical (re)insurance market.
3. Analysis of Potential Medical Claims Related to COVID-19: The societal, operational and human costs associated with COVID-19 are prominent in our thoughts, discussions and efforts. While these costs are undoubtedly high, health insurers and reinsurers are also closely monitoring the direct and indirect financial impact of the virus. The growing use of telemedicine and capacity constraints within our healthcare system will potentially dull utilization increases; however, the financial costs will still be significant.
4. COVID-19 – Coronavirus-Related Testing and Treatment: As the virus continues to spread within the United States, questions began to arise about whether and how coronavirus-related testing and treatment would be covered by public and private health insurers. The concern is that potential costs may prevent those patients who may need testing, from pursuing testing.
5. Health Insurers and COVID-19 – Background and Timeline: As COVID-19 spreads throughout the United States and the resulting economic disruption continues, medical insurance carriers are responding to the needs of their customers in a rapidly changing market landscape shaped by legislative and competitive conditions. In this article, we provide an overview of how large medical insurance carriers are adapting to the needs of their insureds and employees.