According to a national not-for-profit healthcare analytics firm, FAIR Health, the median in-network commercial charge (not the amount paid) for COVID-19 hospitalizations has ranged from $34,662 for the 23-to-30 age group to $45,683 for 51-to-60-year-olds. Their data is based on a recent review of commercially available claims data from January to May of this year. Other findings from the recent FAIR analysis include:
The study mirrored Medicare claims data showing that chronic kidney disease and kidney failure were the most common comorbidities of the hospitalized COVID-19 patient with similar cost characteristics.
Thus far, many employers have seen a sharp decline in overall claim costs for much of March to the present day, although some plans are seeing costs begin to come back on line as elective care begins to resume. While there may be short-term reductions, care is ultimately expected to come back to traditional levels.
Conner Strong & Buckelew continues to monitor trends and data related to the impact of COVID-19 so we can help employers and plan sponsors budget appropriately.