The president said that insurers “have agreed to waive all copayments for coronavirus treatments.” Don’t count on that. Insurers’ biggest trade group (“AHIP”) said soon after Trump’s speech that what insurers would waive would be cost-sharing for testing. Not treatment. (2/10)— Wendell Potter (@wendellpotter) March 13, 2020
Case in point: My old company Cigna says it will cover the cost of COVID-19 testing — but makes no mention of waiving copays or deductibles for *treatment*. Check out their carefully crafted wording here: (4/10)https://t.co/VfXydwLHSp— Wendell Potter (@wendellpotter) March 13, 2020
One of the most-watched metrics for health insurance companies is called the “medical loss ratio.” The more insurers pay for care, the higher the ratio is. (It’s called the medical loss ratio because insurers consider it a loss when they pay a claim.) 6/10— Wendell Potter (@wendellpotter) March 13, 2020
Remember: For-profit insurers are in the business to make a profit. Period. And they do better when you don’t need them or remember they exist. But when a crisis like this erupts, they get scared. Why? Because folks like you will see what they really do and don’t cover. (8/10)— Wendell Potter (@wendellpotter) March 13, 2020
