New Tool Will Help Insurers, State Officials Predict Health Costs From Pandemic
The publicly available tool, funded by a Robert Wood Johnson Foundation grant, may help companies trying to set their premiums for 2021. In other news, insurers offer new options for COVID-19 testing.
Modern Healthcare:
Actuaries Launch COVID-19 Healthcare Cost Predictor For Insurers
The Society of Actuaries launched a tool on Tuesday to help health insurers and state regulators predict how the COVID-19 pandemic will affect healthcare costs, as they determine premiums for 2021. The publicly available tool, funded by a Robert Wood Johnson Foundation grant, allows users to come up with a range of forecasts for how healthcare costs could increase amid the COVID-19 outbreak compared to a scenario in which the pandemic never happened. ... Insurers are busy filing preliminary rates for Affordable Care Act plans to be sold next year, but the companies are struggling to figure out how to incorporate the potential costs for coronavirus tests and treatment into the rates, as well as how to address deferred care that doctors and patients have put off amid the crisis. (Livingston, 6/30)
Modern Healthcare:
Humana Works With LabCorp, Quest, Walmart On COVID-19 Tests
National health insurer Humana said it is making it easier for its members to get tested for COVID-19 at home or via drive-thru pharmacies. The company said it will pay for certain plan members to access LabCorp. at-home COVID-19 tests. It is also partnering with Walmart and Quest Diagnostics to offer testing at Walmart drive-thru pharmacies across the country. (Livingston, 6/30)
Detroit Free Press:
Trinity Health Michigan Lays Off, Furloughs Another 1,000 Employees
A second wave of job cuts and layoffs have hit a Michigan health care system as the COVID-19 pandemic continues to ravage the economy. Layoffs and schedule reductions for 1,000 full-time workers or their equivalents will begin this week and continue through the end of July at Trinity Health Michigan, which includes the St. Joseph Mercy Health System and Mercy Health, according to a memo sent to staff Monday by President and CEO Mike Slubowski. (Shamus, 6/30)
And in news on expanding broadband services to rural health care providers --
Modern Healthcare:
FCC Adds $197 Million To Rural Health Care Program Funding
The Federal Communications Commission on Tuesday made an additional $197.98 million in funding available for its Rural Health Care Program, which helps rural healthcare providers purchase broadband and telecommunications services. FCC officials in recent weeks have stressed the agency's commitment to supporting telemedicine access amid the coronavirus pandemic, which many have credited with spurring rapid telemedicine growth as hospitals ramped up their use of the practice to let patients receive care at home without needing to visit a facility. (Cohen, 6/30)
