Daily News Updates - Health Insurance News

Finding Answers About the Uninsured, Pt.3 – What about multi-colinearity?

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All that changed around the 2000 election, when the stock market collapsed and NASDAQ dropped about 75% in a matter of weeks. Of course, the churning continued, but this time prosperity was gone and unemployment soared. Few people were changing jobs to “move up”. Most were let go due to widespread layoffs and plant closures. From that time till present, millions of skilled jobs have left out country, only to be replaced by much-lower paying jobs. Meanwhile, birthrate and immigration have continued to soar. It was quickly found that the new unskilled immigrants could easily fill the new unskilled jobs and even provide their employer with further governmental rewards. Employee health insurance benefits rapidly fell away with these new jobs. The few hi-skilled positions that covered health insurance were quickly consumed by the abundance of new , younger college graduates and the “jet set techies” who were churning from one job to the next for higher pay. Most of the skilled who were “let go” did not return to the same league they had fallen out of. Many were left to only lowly positions, often for not being still young. Most of these new lowly positions did not offer health insurance benefits either. Still a third segment of significance were those displaced; they could not secure a mid-level position that offered health insurance, unemployment benefits ran out and they just gave up, long before retirement – leaving them marooned as non-entities. They were neither employed, unemployed nor “officially” retired.

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