Health Insurers Say Their Virus Costs Could Surpass $500 Billion

Health insurers’ costs for testing and treating Covid-19 could be as high as $556 billion in 2020 and 2021, a trade association for health insurers said Wednesday.

America’s Health Insurance Plans commissioned Wakely Consulting Group to study Covid-19 costs to U.S. health insurers. Wakely came up with a wide range: $56 billion to $556 billion over the next two years.

It isn’t yet clear how the pandemic will affect insurers because hospitals have canceled elective procedures to make way for Covid-19 patients, a move that is expected to save money for insurers in the short-term. AHIP’s assessment ...