Tuesday, January 11, 2022

Insurance CEO: Deaths of working-age people are skyrocketing

 OneAmerica CEO says death rates among working-age people up 40%

OneAmerica CEO Scott Davison

With COVID-19-related deaths in the U.S. now surpassing 800,000 according to the Centers for Disease Control (CDC), a life insurance company executive sounded the alarm about working-age death rates recently during a Dec. 30, 2021 virtual news conference sponsored by the Indianapolis Chamber of Commerce and the Indiana Hospital Association.

“We’re seeing right now the highest death rates we’ve ever seen in the history of this business,” said OneAmerica CEO Scott Davison. And it’s not just at OneAmerica: “The data is consistent across every player in that business.”

Davison said death rates among working age people—those 18 to 64-years-old—are up 40% in the third and fourth quarter of 2021 over pre-pandemic levels.

“Just to give you an idea of how bad that is, a three sigma or a 1-in-200-year catastrophe would be a 10% increase over pre-pandemic levels,” Davison said. “So, 40% is just unheard of.” ...

 “What the data is showing to us is that the deaths that are being reported as COVID deaths greatly understate the actual death losses among working-age people from the pandemic,” Davison said. “It may not all be COVID on their death certificate, but deaths are up just huge, huge numbers.”

He went on to point out that insurance premiums are rising accordingly. 

Furthermore

At the same news conference where Davison spoke, Brian Tabor, the president of the Indiana Hospital Association, said that hospitals across the state are being flooded with patients “with many different conditions,” saying “unfortunately, the average Hoosiers’ health has declined during the pandemic.”

In a follow-up call, he said he did not have a breakdown showing why so many people in the state are being hospitalized – for what conditions or ailments. But he said the extraordinarily high death rate quoted by Davison matched what hospitals in the state are seeing.

"What it confirmed for me is it bore out what we're seeing on the front end,..." he said.

The number of hospitalizations in the state is now higher than before the COVID-19 vaccine was introduced a year ago, and in fact is higher than it’s been in the past five years, Dr. Lindsay Weaver, Indiana’s chief medical officer, said at a news conference with Gov. Eric Holcomb on Wednesday.

Just 8.9% of ICU beds are available at hospitals in the state, a low for the year, and lower than at any time during the pandemic. But the majority of ICU beds are not taken up by COVID-19 patients – just 37% are, while 54% of the ICU beds are being occupied by people with other illnesses or conditions.

Graphs:

Deaths from all causes since 1999:


Deaths  from all causes in 2021:


Deaths from all causes in 2020:


Deaths from all causes in 2019:


2019 aggregate:


2020 aggregate:



2021 aggregate:



A prayer for Memorial Day

 I did not write this but I first used it so long ago that I do not recall whence it came. It is presented here as a responsive.  PRAYER FOR...