Long COVID may cost US economy $3.7 trillion

The CDC estimates long COVID-19 affects 7.7 million to 23 million Americans, which could cost trillions of dollars in treatment and economic impact, according to CNBC.

People with long COVID experience symptoms continuously or in waves for weeks, months or years. The lingering symptoms make it challenging for people with long COVID to work regularly and obtain life insurance. The economic impact of long COVID could extend to additional household debt, less retirement savings and "financial ruin," according to the report.

Harvard University economist David Cutler found long COVID could cost the U.S. economy $3.7 trillion, according to a report released earlier this year. He estimated medical spending would be around $528 billion.

"Long Covid will be around long after the pandemic subsides, impacting our communities, our health-care system, our economy and the well-being of future generations," a November HHS report said. "We can reduce the severity and breadth of that impact, however, if we act collectively and urgently."

HHS made several recommendations for organizations to tackle the burden of long COVID, including:

  • More public awareness of long COVID
  • Funding for long COVID clinics
  • Support more specialists for long COVID
  • Education for primary care providers to diagnose and treat long COVID
  • Better reimbursement structure for treating long COVID
  • Improved long COVID data tracking
  • More research and rapid innovation for breakthroughs

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars