UnitedHealth To Offer Modest Relief For Plan Members With $1.5B Worth Of Premium Credits
Insurers are weathering the pandemic better than expected, since their costs for elective procedures plummeted. “People are hurting right now,” said UnitedHealth CEO David Wichmann when announcing the insurance company's decision.
The New York Times:
UnitedHealth Customers Will See A Discount On Next Month’s Bill
With so many of its customers struggling during the pandemic, UnitedHealth Group, one of the nation’s largest health insurers whose profits have not suffered during the crisis, is offering modest relief. On Thursday it said it would make $1.5 billion worth of premium credits and fees for doctor’s visits available to people enrolled in its plans.“ People are hurting right now,” said David S. Wichmann, UnitedHealth’s chief executive, in a call with reporters on Wednesday night. “Employers are hurting. Individual consumers are hurting.” (Abelson, 5/7)
The Wall Street Journal:
UnitedHealth To Give Customers $1.5 Billion Of Discounts
UnitedHealth said it would also waive cost sharing, such as copayments, for specialist and primary-care doctor visits by people enrolled in its Medicare Advantage plans, through at least the end of September. “Taken together, these actions will help people get and pay for health care,” said David Wichmann, chief executive of UnitedHealth. (Wilde Mathews, 5/7)
The New York Times:
UnitedHealth Customers Will See A Discount On Next Month’s Bill
Employers and individuals in its commercial plans could receive credits toward their premium bills for June, ranging from 5 to 20 percent of their May bills. The credits, which would be targeted to those in areas of the country hardest hit by the virus, would not apply to the plans UnitedHealth administers for employers that are self-insured. For people enrolled in its Medicare Advantage plans, the company said it would waive all cost-sharing for visits to primary-care physicians and specialists through at least the end of September. The company said it wanted to encourage people to get any care they need and had put off during the crisis. (Abelson, 5/7)
CNBC:
UnitedHealth Commits $1.5 Billion For Premium Rebates And New Cost-Sharing Waivers
Some insurers and hospital operators have reported surgical volumes and non-Covid-19 emergency room visits in April down 40% or more from a year ago, which is more than offsetting increased costs on coronavirus care and expenses. (Combs, 5/7)
In other news on health care costs —
Modern Healthcare:
AHA: COVID-19 Could Cost Hospitals $200 Billion Through June
The financial impact of COVID-19 on hospitals and health systems may top $200 billion from March through June, according to a report released Tuesday. More than $161 billion of the expected revenue losses stems from canceled surgeries and other services like lower levels of outpatient treatment and emergency department services. COVID-19 related hospitalizations account for an additional $37 billion in losses, the American Hospital Association reports. (Brady, 5/5)
Bangor Daily News:
‘Devastating’ Number Of Mainers Could Lose Health Insurance As Pandemic Continues
Up to 221,000 Maine residents could lose the health insurance they receive through their jobs if unemployment levels this year reach Great Depression heights, ultimately increasing the ranks of Maine’s uninsured by almost 50 percent, a new analysis shows. (Andrews, 5/7)
