Strome Business Minute With Dr. Jeff Tanner

Covered California, the open marketplace for California’s health insurance, conducted a study that predicts significant increases in healthcare insurance costs thanks to the COVID crisis. Their study predicts increases of forty percent, mirroring what some organizations have been saying about their healthcare premium renewals. The Society for Human Resource Management predicts much lower increases, only seven percent. An average corona virus related stay of twelve days will cost seventy two thousand dollars, with total commercial payouts estimated to range from thirty one billion dollars to two hundred and thirty eight billion dollars. The wide range in projected insurance payouts is partly due to separating out patients covered by Medicare. The wide range of estimates, though, also shows that we still know very little about the longer term effects of this pandemic. To learn more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.