By Monica E. Oss Health plans reported record profits in the early days of the pandemic as health care utilization dropped. Through the third quarter of 2020, 44% of consumers canceled or deferred some medical appointments and treatments and health services revenue fell by 2.4% compared to 2019 (see Employees Flock To Virtual Health Care During Pandemic, Willis Towers Watson Employee Survey Finds and How Have Health Spending & Utilization Changed During The Coronavirus Pandemic?) But that profitability picture was short lived. In the fourth quarter (Q4) of 2020, many health plans began to feel the COVID squeeze with increased COVID-related treatment expenses and consumers resuming more…
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