NORTH CAROLINA -- The coronavirus could affect your health insurance rates for next year.

Much of the U.S. is still in the first wave of COVID-19 cases and many experts predict at least a second one while researchers try to produce a vaccine.

And, even when that happens, there's no telling how expensive a vaccine could be, another cost for insurers to pick up.

Most insurance companies have absorbed the costs of coronavirus treatment and testing.

However, Martin Anderson, an economics professor at UNC Greensboro says those companies have been saving money in other areas.

"There's a big chunk of the effect that's coming from this deferral of elective procedures that's been happening across the country," Anderson says. "That is effectively reducing their spending. It appears the reduction spending on elected procedures is bigger than what they're spending on coronavirus treatment and testing."

Anderson says uncertainty about case numbers in the months ahead and the cost of a vaccine is likely to translate to rate hikes for next year, possibly between six and 10 percent.

He says we should have a better picture of rates and premiums around October.