Health Insurance in a Tough Economy
Health Insurance in a Tough Economy
The economy has been in one of its most brutal tailspins in many decades. In fact many people are arguing that the current economy is worse than anything we have seen since the Great Depression. This is playing out in many ways and perhaps the most severe way it is playing out is in the unemployment figures. Unemployment is rising tremendously and is at its highest level in many years standing at over 10% in some areas and close to 10% on average for the nation. This is a substantially high number and has many side effects including reduced consumption in other areas, which leads to a vicious cycle of further cuts. As such one of the huge surprises that came out of a recent health insurance study is that the number of people covered by health insurance has actually remained remarkably stable despite the unemployment picture. Given that many people receive health and dental insurance via their employer plans you would think a rise in unemployment would lead to a rise in the uninsured. This has not materialized as the government has rolled out new coverage options for the uninsured and insurance companies are starting to offer more affordable coverage plans.
Tags: health insurance