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CEO North America > CEO Life > Health > The average cost of COVID-19 hospitalization and how to potentially lower your bill

The average cost of COVID-19 hospitalization and how to potentially lower your bill

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Among the many lives lost due to the COVID-19 pandemic, the financial impact of the pandemic has been just as devastating for many people across the country. A survey conducted in June 2021 by The Commonwealth Fund, an organization advocating for affordable health care, found that almost half of the 5,450 recipients were either diagnosed with COVID or experienced a loss of income—and struggled with medical debt at higher rates than those who were not affected. Black and Latinx respondents reported the highest number of medical bill and debt problems compared to white people. The survey also showed that 35% of those who reported problems with medical bills and debt used up all or most of their savings.

A recent analysis on COVID hospitalization costs by the Peterson-Kaiser Family Foundation Health System Tracker estimates that the average cost of getting treated in a hospital for COVID is $20,000, although data for all types of payers and hospitalizations are not publicly available. Meanwhile, though COVID cases and new hospital admissions have decreased since mid-September according to the latest CDC data, there are still more than 57,000 people currently hospitalized for the disease.

Here is what you need to know about the factors contributing to hefty medical bills that come with COVID hospital admissions, insurance coverage, and ways to potentially keep your costs down:

Length and severity of the case are among the multiple factors that increase the cost of COVID hospitalization

The length of a person’s stay varies depending on the seriousness of their case. That and the resources required to treat a certain patient are two of the biggest factors impacting the bottom line.

Other medical conditions a patient may have, such as hypertension, diabetes, heart disease, or compromised immunity also increase the chances of hospitalization—and come with their own additional costs.

As resources and lengths of stay increased due to severity of disease, the use of equipment such as ventilators and the processes surrounding advanced respiratory care can drive average costs up to $49,441 and 17.1 days, according to a study published in medical journal Annals of Internal Medicine in August.

Other factors that contribute to total hospitalization cost include whether the hospital is in-network or out-of-network. Costs also vary per hospital—some hospitals charge more than others.

Many health insurance providers are no longer waiving cost-sharing for COVID treatment

While public and private health insurance providers initially covered many COVID-related expenses, insurance companies are now expecting patients to share more of the cost. A study by Peterson-KFF from November 2020 found that 88% of those enrolled in fully insured private health plans would have any out-of-pocket costs waived if they were hospitalized for COVID; that’s no longer the case. An updated Peterson-KFF analysis on COVID insurance coverage reported that as of August 2021, 72% of the two largest health plans in each state (102 plans) are no longer waiving out-of-pocket COVID costs.

The reason? The availability, safety, and effectiveness of the vaccine makes most hospitalizations completely preventable. Between June and August 2021, preventable COVID hospitalizations of unvaccinated adults cost over $5 billion.

The best way to stay out of the hospital with COVID (and avoid big bills) is to get vaccinated. The vaccine is free, regardless of insurance, and the CDC cites a tenfold protective effect of the vaccine against hospitalization needs compared to a matched unvaccinated cohort.

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