Hospital and other medical treatment for COVID-19 costs $14,573 per patient on average and coronavirus testing is about $102 per sample, according to a new report focusing on Wisconsin by Madison-based M3 Insurance.
The company’s COVID-19 Impact on Health Care report, released Thursday, is a supplement to its annual Health Care Trend Report, which came out in August. That report said health insurance premiums went up an average of 4.8% this year in the state, the third lowest increase since the report started in 2004.
COVID-19 has led many employers to be more mindful of their expenses, but 68% of M3 customers surveyed in July said they don’t anticipate making changes to health benefits because of the pandemic, according to the new report. Some 4% percent said they plan to make changes and 28% said they weren’t sure.
While some employers have experienced higher than normal health care costs because of the pandemic, many saw member usage drop in the first half of the year, the new report said.
The overall annual health benefit cost per employee this year is $13,657, up from $13,559 last year but down from $13,727 in 2017, the August report said. In the Madison market, which has had the lowest cost per employee in the state since 2013, the cost this year is $13,215.