COVID-19 could reduce employer health care costs due to care deferral, Willis Towers Watson analysis finds
Willis Towers Watson Public Limited Company - Ordinary Shares (WLTW)
Last willis towers watson public limited company - ordinary shares earnings: 4/30 06:01 am
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Source: GlobeNewswire
ARLINGTON, Va., May 01, 2020 (GLOBE NEWSWIRE) -- COVID-19 could reduce employer health care costs by as much as 4% in 2020, as medical care for noninfected patients has declined during the pandemic, according to a new Willis Towers Watson analysis of large, self-funded employers. The analysis updates a similar study conducted last month that projected employer costs could rise by as much as 7% due to COVID-19-related costs. “With treatment for COVID-19 top of mind, people have been putting off nonemergency medical care, including routine office visits and elective procedures at hospitals,” said Trevis Parson, chief actuary, Willis Towers Watson. “Given this reduction in use of medical services, we expect cost reductions due to care deferral to more than offset projected cost increases associated with COVID-19 infections.” The updated study utilizes recent estimates of infection levels in the U.S., which vary significantly by geography and reflect the latest projections
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