To educate employers on the financial effect of COVID-19 from a stop-loss perspective, Tokio Marine HCC Stop Loss Group (TMHCC) has gathered self-funded claims data where the primary diagnosis was COVID-19 or COVID-19-related.
In 2020, TMHCC paid 958 COVID-19 claims totaling $62,405,642… an average of $65,142 per claim. The highest paid claim was $1,889,415.
The percentage of claims by age found that individuals 55 and over represented over half of all claims:
The industries with the highest number of COVID-19 or COVID-19 related claims included labor unions, medical offices and government. While frontline industries had the most claims, the overall frequency of claims relative to the number of employees was very consistent across all industries.