Using Medicare FFS claims data and county-level vaccination rates, we estimate savings of about $2.6 billion from reduced Medicare hospitalizations associated with COVID-19 vaccinations in early 2021. These cost savings reflect 107,000 fewer Medicare (FFS and Medicare Advantage) COVID-19 hospitalizations during this period, compared to projections if no COVID-19 vaccines were available during that period. Hospitalization cost savings from this early vaccination period were nearly large enough to offset the cost for approximately 67.7 million single-dose COVID-19 vaccines, or 31.2 million two-dose series, assuming an average cost of $40 per dose.
- Reductions in Deaths and Hospitalizations Associated with COVID-19 Vaccinations Among Medicare Beneficiaries: Full Year 2021 Estimates
- Associations between County-level Vaccination Rates and COVID-19 Outcomes Among Medicare Beneficiaries
- Risk of COVID-19 Infections, Hospitalization, and Death in Fee-For-Service Medicare
- COVID-19 Vaccination Associated with Reductions in COVID-19 Mortality and Morbidity in the United States, and an Approach to Valuing these Benefits
- The Impact of the COVID-19 Pandemic on Medicare Beneficiary Utilization and Provider Payments: Fee-For-Service (FFS) Data for 2020