Anticipating and planning for future medical claims is a delicate blend of art and science even during “normal” times. But it’s especially so as we try to predict the effects of this pandemic. It’s the job of your health care broker to help you with short-term risk assessments, detailed tracking of COVID-19 claims and risk-mitigation strategies to help you manage your plan in the future.
At The Miller Group, we are closely analyzing the data from many of our clients and learning from others all over the country. Overall baseline utilization is down in the short term. But the cost of COVID-19 treatment and the longer-term effects of the crisis could challenge your budget for this year and next. For more, see Understanding COVID-19: How it Will Affect Your Medical Claims.
By Alaina Wagner, Director of Financial Analytics