Conventional wisdom holds that COVID-19 is a disease caused by a new strain of coronavirus. 'CO' stands for corona, 'VI' for virus, and 'D' for disease. Formerly, this disease was referred to as '2019 novel coronavirus' or '2019-nCoV.' For more information on how the COVID-19 pandemic has impacted the insurance industry visit https://www.scic.com/covid-19-conversations/... More is increasing costs for healthcare payers due to an influx of patients in need of testing and treatment. While these costs are significant, a Milliman analysis reveals that the deferred and elimination of care is a far more impactful driver of costs. Milliman projects a net reduction in medical costs for healthcare payers by at least $75 billion and as much as $575 billion if the deferral and elimination of care continues through the end of 2020. Download the Milliman whitepaper.
Out of everything that was successful in 2020, the Gig Economy took the front seat. Despite many challenges experienced this year, and perhaps because of