For medical claims, insurance carriers are expecting a 5% decrease on average, when long-term and short-term effects of the pandemic are accounted for. (Photo: Shutterstock)
A new analysis finds the global COVID-19 pandemic could save employers some money this year due to a drop in medical claims. The study by Aon looked at projected medical spending and found that overall, medical spending is likely to increase at a rate 5% lower than what carriers had expected for the year, meaning that self-insured companies could see some savings in their health care budgets.
However, the analysis noted that the savings were likely to be temporary; many consumers have put off health care procedures and doctor visits because of the pandemic, and as a result, spending is likely to bounce back in 2021.
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