Importance of Insurance Eligibility Verification During COVID-19

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Coronavirus or the novel COVID-19 disease has affected millions of people across the world. The communicable disease is caused by a family of viruses that results in acute respiratory illnesses, such as impaired lung and kidney functions, pneumonia, and even multi-organ failure. Across the globe, there has been a closure of businesses as well as the loss of jobs and lives. The general economic situation is a global recession. Hence it is vital to know the importance of insurance eligibility verification during COVID-19:

The Importance of Insurance Eligibility Verification During COVID-19:

Impact of COVID-19 on Health Insurance Industry

The coronavirus (COVID-19) outbreak is causing extensive concern and increasing economic suffering for businesses, consumers, and communities. It is hard to determine the impact on health insurance on a global scale because the impacts will be very different country by country. But the consensus is that the COVID-19 pandemics have put a lot of stress on the already under pressure health insurance market. An increase in health claims has been the most obvious effect of COVID-19 on the insurance industry.

The number of people eligible for Medicaid has increased drastically. Again, this stems very directly from job loss, as well as from employers deciding that they can’t afford to continue to offer health insurance, which is another reason why people sometimes end up on Medicaid. So, there are millions of new Medicaid enrollees. Medicaid rolls are increasing as there are millions of new Medicaid enrollees in some states.

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