posted by Cotiviti
on July 28, 2020
The staggering number of job losses caused by the COVID-19 pandemic, leading to the highest unemployment rate since the Great Depression, has meant loss of income for millions of American families. But that isn’t the full extent of the damage, because many of these families are also losing their employer-sponsored health insurance coverage.
Unless they can secure another job quickly, their only options for health insurance are to continue their previous coverage through COBRA, enroll in a commercial plan on the health insurance exchanges, or enroll in a Medicaid plan. But for many working-class families, especially those who have just lost income, the first two options may not be feasible. For this reason, Medicaid plans should expect a surge in new members.
This paper represents the views of the author, not America’s Health Insurance Plans (AHIP). The publication, distribution or posting of this paper by AHIP does not constitute a guaranty of any product or service by AHIP.