How much will you spend if you contract COVID-19?
Let us know your thoughts in the comments.
CNBC Reports: Here’s what you need to know when it comes to paying for coronavirus treatment
Contracting COVID-19 comes with not only major health costs, but also financial. Especially if you are uninsured. Lawmakers have attempted to improve access to healthcare and to reduce expenses, but everyone's costs will vary.
Currently, it is estimated that about 15% of infected people will end up hospitalized and remain in the hospital for an average of 20 days.
The average cost to treat a hospitalized patient with the virus is $30,000, according to a study released Wednesday by America’s Health Insurance Plans, a trade group for insurers. (Other estimates have come in both lower and higher.)
For the uninsured, the Trump administration is attempting to use funding passed through recent legislation to help cover the costs.
However, it’s unclear whether the government’s offer of reimbursement extends only to hospitals or to other providers as well, Schwartz said. That includes physicians who treat a coronavirus patient in the hospital and may not be directly employed by the facility.
For those with private insurance through employers, some employers can choose not to participate.
“You might have, say, an Aetna or United Healthcare insurance card, but they are just the administrator of the plan and not the one making the rules,” Schwartz said.
If your employer does not plan on waiving treatment costs, the average deductible is $1,655. If you are on a non-group policy purchased through an exchange, this price sky rocket to $4,500.
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