Health insurers still aren’t that worried about the coronavirus – Axios

COVID-19 has affected each health insurance company differently, but the industry remains mostly insulated from the virus' growing toll.

The big picture: Most of the big insurers have sidestepped massive coronavirus-related costs so far this year, due in large part to people putting off other care. And the companies that have had to pay more medical claims are raising premiums on employers and consumers, exactly as they said they would.

Driving the news: Health insurers were very focused during the third quarter on their medical loss ratios, or the percentage of premiums that are paid toward health care services and drugs.

Keep in mind: Most large employers pay their own medical claims and use insurers as claims administrators.

The bottom line: Health insurers remain significantly more profitable today than they were before the pandemic, even after factoring in COVID costs.

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Health insurers still aren't that worried about the coronavirus - Axios