https://www.cms.gov/CCIIO/Resources/Files/Downloads/mlr-repo...
The other thing is that as millions of employees get laid off, millions of health insurance premiums stop getting paid.
Failure mode of a system where healthcare is tied to employment -- works as long as people keep shuffling around, shatters when a systemic black swan comes along.
And no, cobra doesn't address it. It's just a patch. Anyone actually pay cobra for more than a month or two? You quickly realize just how expensive employer group plans can be for an individual.
Nassim would like people to stop saying this. I view him as an authority on the subject.
https://mobile.twitter.com/nntaleb/status/124494673873917952...
Well, whatever colour the swan is, a pandemic is no any unprecedented crisis. It's frankly more predictable than large scale earthquakes, but many people simply didn't give a shit to plan for it in advance.
Can Covid costs (at current patient levels) make up for the loss of other claims? I'm doubtful, especially since some Covid costs are evidently borne by the federal government. The suffering of hospitals is circumstantial evidence that insurers are paying out less overall.