General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSerious Thoughts in Regard to Health Insurance Companies
I hope this scenario doesn't occur but for argument's sake, let's say that COVID-19 burns through the United States.
How are health insurers going to cover these costs? I can't see the government covering them or the hospitals taking the brunt of them.
I read somewhere (can't find the link ATM) where insurance companies could handle about 20% of insurer's bills but would likely go bankrupt if cases became more widespread with many needing critical care.
Who would handle the enormous cost of this?
I can't imagine the total bills falling on the ill or recovered, most would have to file bankruptcy, lose their homes, etc.
I do realize that many have enormous deductibles, as well. Many decline seeing a doctor when ill due to this.
Also, in regard to life insurance companies, would they go under, as well?
Just some thoughts to ponder in which I'd like to hear other's thoughts.
RandySF
(57,661 posts)denem
(11,045 posts)Closeted providers can't be trusted
jimfields33
(15,479 posts)Sad it takes that long but I guess thats how it works.
BigmanPigman
(51,432 posts)I read another post about it too. People without insur or have no cash for out of pocket costs and high deductibles will be screwed. Half of Americans only have $400 cash for an emergency. That would take care of a 30 min stay in a hospital. My bill, after my $30,000 insur co. paid there portion, was $1,000 for 4 days. The fucking moron and the GOP are still trying to get rid of the ACA. Their policies are going to make even more Americans bankrupt and many killed.
OhioChick
(23,218 posts)I didn't see your thread or I would've brought up my thoughts on it. My apologies.
I hear exactly where you're coming from.
I'm hearing of so many people saying they couldn't afford their deductibles which I find to be quite frightening. I'm concerned about those who won't go to get assessed at a hospital/doctor due to the costs involved.
You're absolutely right on the bankruptcy issue and needless death that could be caused by insurance companies.
Sherman A1
(38,958 posts)They will be just fine and survive doing better than ever. They will find ways to deny claims, payouts and coverage at every turn. We will still be inundated with commercials for Medicare Advantage Plans along with big Pharmas incessant drug advertisements. If they do possibly take a hit, employees will be laid off and the CEOs will still get huge bonuses.
OhioChick
(23,218 posts)Voltaire2
(12,632 posts)the government will step in and bail them out. Socialism is only for the rich.
Sherman A1
(38,958 posts)That seems to be how it works.