Insurance companies respond to increased demand for COVID-19 healthcare needs

Insurance companies respond to increased demand for COVID-19 healthcare needs

OF THE BILL FOR TREATMENT.WMAR 2 NEWS' MARK ROPER ISLIVE AT THE MARYLAND INSURANCEADMINISTRATION IN DOWNTOWNBALTIMORE.

MARK━ HOW MUCHCOULD THE NUMBER OF CLAIMS FORCOVID 19 PUT A STRAIN ONHEALTH INSURANCE AND POSSIBRAISE THE PRICE OF PREMIUMS?THAT'S A QUESTION I ASKEDMARYLAND INSURANCECOMMISSIONER AL REDMER.

ANDTHE ANSWER HE GAVE ME HAS TODO WITH WHAT HOSPITALS ARE NOTDOING RIGHT NOW WHILE FOCUSINON COVI━19WE'RE ALL IN THIS TOGETHERTHROUGHOUT THE PANDEMIC━ ATHAT INCLUDES YOU AND YOURHEALTH INSURANCE COMPANY.

BUTTHE COST OF AN UNEXPECTEDHOSPITAL BILL FOR COVI━19MIGHT CATCH PEOPLE SOME OFGUARD.

It doesnwhether it is coronavirus or acar accident somewhere, youhad the potential to runthose expenses SUCH AS A HIGHDEDUCTIBLE OR OUT OF POCKEMAXIMUM... As an example, youmight have a $5,000deductible, but the out ofpocket maximum may be $10,000.So while thatamount of money, thatthat could probably be workedout with the hospital IN MARCHINSURANCE COMPANIES TO COVERTHE COST OF CORONAVIRUSDIAGNOSISFEES.

BUT WHAT ABOUT THE C━PAYS━ DEDUCTIBLES━ ANDOU━O━POCKET EXPENSES FORTHOSE WHO MIGHT TEST POSITIVEAND END UP WITH A LENGTHY ANDCOSTLY HOSPITAL STAY?

A lot ofthe carriers have waived costsharing for the treatmentitself, but thatuniversal, again, you reallyhave to check with yourinsurance carrier IT'S GOODNEWS IF*YOUR INSURANCECOMPANY HAS YOUR SHARE OFEXPENSES COVERED FOR COVI━19━ NOT ALL OF THEM DO.

ANDWITH THOUSANDS SEEKINGTREATMENT AND OTHERSHOSPITALIZEDNUMEROUS CLAIMS LEAD TO HIGHERHEALTHCARE INSURANCE PREMIUMSFOR EVERYONE?

The folks thatare in the hospital arerunning up huge bills, butagain, the flip side is, folksare not going into thehospital for the knees, andthe hips, and other things, soat this point I donthat we are seeing things thatare going to be catastrophicfrom a claim perspectiveBECAUSE OF THE CORONAVIRUS━THE MARYLAND HEALTHCAREEXCHANGE HAS OPENED UP ASPECIAL ENROLLMENT PERIODTHROUGH JUNE 15TH FOR PEOPLEWHO DON'T HAVE COVERAGE.

IFYOU ENROLL TODAY━ YOURCOVERAGE WILL BE RETROACTIVETO APRIL 1ST.

AND MARYLANDHEALTH CONNECTION PLANS WILLHELP COVER OUT OF POCKETEXPENSES LIKE COPAYS ANDDEDUCTIBLES FOR COVI━19.LIVEIN DOWNTOWN BALTIMORE━ MARKROPER━ WMAR 2