Insurance Providers Will No Longer Waive All Costs Associated with COVID-19 Treatments
By Breck Dumas, Fox Business // August 28, 2021
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(FOX BUSINESS) – The majority of private health insurance companies have stopped waiving patients’ fees associated with treatment for COVID-19 as most had done since the early days of the pandemic, a new study has found.
According to an analysis by the Kaiser Family Foundation (KFF), 72% of U.S. insurers who previously waived cost-sharing or entirely covered treatment costs have quit doing so and another 10% will be phasing out such waivers by the end of October.
In a previous study done in the earlier days of the pandemic, KFF found that 88% of fully insured COVID-19 patients would have had all of their hospitalizations costs waived by their insurer.
The group noted that insurance companies were enjoying higher profits during periods of lockdown and uncertainty, as many people put check-ups and elective procedures on hold.
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