While the NCAA does provide catastrophic injury insurance for the most horrifically debilitated athletes, it doesn't kick in until after students and their parents have ponied up $90,000 of their own money towards medical bills. Student athletes are otherwise purchase their own medical insurance (which sucks when there isn't a highly contagious virus rampaging through the student body).
In fact, some schools are preemptively forcing their student athletes to sign waivers saying they won't sue the school if the contract COVID while playing. Even if Congress blocks that rule, you could easily see a scenario where a university claims a student athlete contracted COVID somewhere besides the field. Like, unless you're caught licking an infected linebacker's helmet, it'll be extremely difficult to prove you caught coronavirus on actual game day. Presumably, they could accuse you of being unsafe at a party, and call it a day.
Also, remember how you can lose your scholarship after a year? Well, scholarships sure as hell aren't insured for injury, so if you experience any lasting effects from COVID -- a terrifying possibility we're still learning about -- you could lose both your spot on the team and at the back of French I class. You better hope you can put making out with a cheerleader on your resume someday, because it's the only way you'll profit from this whole thing. Well, unless you suffer an injury costing more than renting Jackie and Aristotle Onassis's former yacht for a day, I guess.