Long Covid economic impact estimated at $3.7 trillion, rivaling Great Recession

As the United States prepares to enter its fourth calendar year of the coronavirus outbreak, it could also be facing a tough winter.  Some new studies suggest that most Americans have had COVID-19 already and the DCD says 2,000 more are still dying each week.  Now, long Covid is becoming a concern.

The number of people who are suffering from long Covid are rising and the impact is far reaching.  In addition to the toll on health, long Covid also creates issues with disability benefits, life insurance, household debt, retirement and financial ruin.

David Cutler of Harvard University says, all told, long Covid is a $3.7 trillion drag on the U.S. economy — about 17% of our nation’s pre-pandemic economic output. The aggregate cost rivals that of the Great Recession, Cutler wrote in a July report.

With that, a debate still seems to rage about what long Covid actually is.  Some studies say women and people of color are higher risk and could also be more likely in bisexual and trans people.

Treatments vary and have different degrees of success.  Greg Iacurci wrote an in-depth piece for CNBC about the physical and economic toll of long Covid.  Read his insights by clicking here.