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How Covid-19 Vaccination Could Affect Your Wallet

A patient receives a Covid-19 booster vaccine at the Pfizer-BioNTech Vaccination Clinic in Southfield, Michigan on September 29, 2021.

Emily Elkonin | Reuters

Some people still refrain from getting vaccinated against Covid-19, even as immunization requirements are increasing.

Those who have not yet been vaccinated have been banned from certain restaurants, travel, and more. There can also be significant financial costs for those who have not yet captured the photo.

Of course, incentives and prescriptions have helped boost vaccination rates in the country. For example, United Airlines, which committed its employees to receive the Covid-19 vaccine this summer, now has nearly 100% workers vaccinated.

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And even more guidance – the Biden administration has said it will require all employers with 100 or more workers to vaccinate or test weekly. It will also require all federal workers, contractors, and healthcare providers to receive the Covid-19 vaccine.

This is how vaccine refusal will hit your wallet.

Employment

Many employers now require workers to be vaccinated against Covid-19 and fire employees who refuse to vaccinate.

Airlines such as United, Southwest, American, JetBlue and Alaska have demanded vaccinations. This week, Northwell Health, New York State’s largest health care system, laid off 1,400 employees who were not vaccinated against Covid-19.

“The biggest cost is losing your job,” said Cynthia Cox, vice president of the Kaiser Family Foundation and director of the Affordable Care Act program. “This has become a problem that more and more people face as more and more employers meet the vaccine requirements.”

In some cases, even family members are empowered. The health care system in Louisiana said this week that it will charge workers extra $ 200 per month insure your unvaccinated spouse or partner.

Insurance

Other companies are taking a different approach and shifting the cost of higher insurance to employees who have not been vaccinated.

Delta Air Lines, for example, does not require employees to receive the Covid-19 vaccine – it is the only major carrier without such a requirement – but will force unvaccinated workers to pay an additional $ 200 a month.

Additional insurance costs may be on the horizon. Many health insurance providers already charge co-payments for smokers, which they can do for those who have not yet been vaccinated.

Medical expenses

There will also be a higher price for Covid-19 treatment in the future, and it is more likely to hit the unvaccinated, who now account for about 97% of those hospitalized due to the disease.

In the early days of the pandemic, most major insurers refused to pay for coronavirus treatment. Now, these denials are about to expire, This means that patients will be forced to pay for any bills they accumulate during their hospital stay due to Covid-19.

According to the Kaiser Family Foundation, hospitalizations for Covid-19 by unvaccinated people who are considered preventable increased healthcare spending by $ 5.7 billion from July to August.

“The costs are mostly borne by taxpayers and people who pay health insurance premiums,” Cox said.

The unvaccinated will also potentially be required to pay for any tests they need to prove they don’t have Covid-19. Of course, these are costs that will also be carried over to those who are vaccinated and still need testing – the cost typically ranges from $ 20 to $ 1,419 per test, according to Kaiser family foundation… However, in some cases, tests can be much more expensive.

“There is no requirement that these tests be covered or should be free,” Cox said, referring to tests at work for the unvaccinated. “This can increase over time if you have to take the test every week.”

Education

Schools across the country now also require all teachers, staff and eligible students to be vaccinated against Covid-19.

This includes about 500 colleges. For unvaccinated college students, not getting vaccinated can result in them being unable to attend school in person and missing out on some of the benefits of being on campus.

“It undermines the value of full-time in-house education if you cannot participate in collaborative learning activities,” said Lynn Pasquerella, president of the Association of American Colleges and Universities. “This is a real loss.”

They may also have to pay a bill for additional testing if they are allowed to be on campus. In some extreme cases, they may lose scholarships – one Brigham Young University student lost $ 200,000 on scholarships because she did not receive the vaccine. Reported by the Daily Mail.

Vacation

Failure to vaccinate can also increase vacation costs. For example, cruise lines such as Carnival, demanding that all unvaccinated passengers have travel insurance and cover $ 150 for their own Covid-19 tests.

Required travel insurance must be a minimum of US $ 10,000 per person to cover medical expenses and US $ 30,000 for emergency medical evacuation without exception Covid-19, according to the cruise line.

“This is something vaccinated passengers shouldn’t pay for,” said Laura Ratliff, senior editorial director at TravelSavvy.

In addition, travel restrictions will soon become stricter with the law coming into force in November. Previously, foreign travelers returning to the United States were required to show proof of a negative Covid test result 72 hours before departure. Next month, unvaccinated Americans returning to the United States will be required to test negative within 24 hours of travel.

Even now, testing requirements can add hundreds and thousands of dollars to a vacation. The situation is likely to get worse for those who are not vaccinated.

“It’s very expensive,” said James Ferrara, president of InteleTravel, a network of home travel consultants. “And perhaps the big cost is problems, anxiety, inconvenience, frustration, and confusion.”

Death Price

The unvaccinated may also have to be held responsible for the death, as Covid-19 has killed over 700,000 Americans so far, making it the deadliest pandemic in US history.

Unvaccinated people are 11 times more likely to die from the virus than those who received the vaccine, according to the Centers for Disease Control and Prevention.

“There is a real risk of death,” Cox said. “Then your family will be left with the costs of your funeral, end-of-life care, and the loss of your income.”

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