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CNBC recently reported that long COVID-19 or long COVID, a term used for long-term effects of COVID-19, could cost the U.S. economy a whopping $3.7 trillion.
David Cutler, an economist at Harvard University, told CNBC that the $3.7 trillion estimate, or about 17% of the nation’s pre-pandemic output, was based on his past research of chronic fatigue syndrome, which closely resembles the symptoms and treatment of COVID-19.
Cutler’s overall cost calculation takes into account factors such as a decreased quality of life, lower income, and increased patient medical bills. He also estimates that individual costs could vary between $3,700 and $14,00 per person, or about $9,000 apiece on average.
According to CNBC, more than 23 million Americans have already contracted long COVID. What’s more, the Kaiser Family Foundation reports that as many as a quarter of all long COVID patients are out of work.
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