How Coronavirus Pandemic impacted Health Insurer Financial Performance

Write a response to the prompt below and reply to the discussion post at the bottom each about a paragraph or more in length

Writing Prompt
Module 11-Nov. 2-8: Ch. 11: How Coronavirus Pandemic impacted Health Insurer Financial Performance?
The pandemic led to decrease in the use of health care services during the first half of 2020, job losses appear to have led to coverage loss in the employer market and increases in Medicaid enrollment, and insurers projecting costs for next year must assess the relative effects of pent-up demand for delayed care, the continuing pandemic, and a potential vaccine.
The drop-in utilization that has contributed to higher gross margins and lower medical loss ratios presents uncertainty and challenges for insurers, particularly given the unknown trajectory of the pandemic.
All signs suggest that health insurers in most markets have become more profitable so far during the pandemic.
Medicare Advantage and group health plans saw rising margins and falling loss ratios through June 2020, relative to the same time last year.
In contrast, margins and loss ratios among individual market insurers have generally remained flat through the second quarter compared to the same time last year, though insurers in this market already had high margins and low loss ratios last year.



And write a reply to this post:
Too early to tell
I think that the primary effect on health insurance companies’ financial performance has been increasing uncertainty. Although insurance companies have seen increased revenues over the first 3 quarters of 2020, much of this can probably be explained by an inability or unwillingness from people to see doctors for non-essential issues. The number of primary care visits for preventative care or check-ups have probably decreased substantially as many people don’t have the same accessibility to see doctors as they did pre-Covid. I imagine that next year insurance companies might see the opposite of what they’re currently seeing, as the non-essential visits that may have been postponed are rescheduled and insurer expenses begin to increase again. I think that its really too early to tell what the long term effects on insurance companies have been.

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