Recession Impacting Health Insurance
Recession Impacting Health Insurance

Following the recession’s turmoil, the prices of almost everything has increased manifold but unfortunately the health insurance coverage has fell down. It has been found by two recent studies that in the time of recession, about 29 million were made to pay from their pockets even after having a health insurance.

A survey conducted by Commonwealth Fund found that about 16 million of people in 2003 felt that the insurance plans were a burden over them. Because of the lack of adequate health insurance, the lives of underinsured families and insured families are at the same risk.

As compared to 2003’s financial crisis, there was a huge jump in the uninsured adults as the number rose by 46 million. It means that almost half of the workers lives have been put under the threat as their illnesses are not insured.

There are a few public programs like Medicare and Medicaid which are proving helpful in securing the lives of some as they are providing medical coverage to children and elders. It is believed that the burden of the health insurance has aroused from higher insurance premiums and increase in co-payments. Moreover, the families are also being hit strongly by increase in taxes by the government.

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