Health Insurance and The Economy

by Ethan Calvin

In 2007, more Americans had health insurance than 2006. But what’s the outlook for 2008? Not good, says a report from the Employee Benefit Research Institute (EBRI).

The non-profit research organization just released the report today that shows that the number of people covered with an employer-sponsored health insurance plan will most likely drop this year.The number of Americans with an employer’s coverage has decreased since 2000, but that was matched with an increase in the number of people who found coverage in the individual health insurance market.

People can afford their own plans because of a stronger economy, reports the Kansas City Star. “The increase came hand-in-hand with a strong economy and low unemployment rates which caused more employers to provide health benefits in order to attract and retain workers, and also may have resulted in more workers being able to afford health insurance,” as reported by the EBRI.

This may not be the case presently. With the economy on the downswing lately, and unemployment rates rising, not as many people can afford insurance on their own.

Combine this with gas and food prices being the highest in history, and you can see people are struggling to keep their homes. This makes it less of a shock that the first thing cut from a family’s budget would be health insurance.

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