Daily News Updates - Health Insurance News

Health Insurance Still Plummeting, Pt.1 – The scope of damage.

Before we can hope to get the damage under control, we need a much better grasp of the gravity and depravity of the situation. New findings and reports are coming in every day. Kristen Gerencher of the Wall Street Journal has recently posted a (SAN FRANCISCO - MarketWatch) article, updating us with more and more findings. The headline announces that a study indicates that the percentage of those with inadequate health insurance (the ‘underinsured’) has leaped a full 60% between 2003 and last year. Until very recently, most of the focus has been the vulnerability to financial disaster to those without health insurance. Just one expensive medical episode could easily wipe them out and drive them into bankruptcy. The leading cause now in America for individuals is due to medical expenses. But now, a different segment or our country is quickly gaining attention. These are to citizens (and their families) who do have health insurance, but it is so inadequate that they are still in financial distress. In many cases, they are in worse shape then the ‘uninsured’.

In spite of our country’s economic growth during the span of 2003 to 2007, things have become increasingly more dismal for those with inadequate health insurance. Studies show that their incomes haven’t begun to keep pace with the rising costs of medical care. The number of victims involved is staggering. They now stand at 25 million American citizens with inadequate health insurance, up from only 16 million back in 2003. This is the 60% leap that is now being announced. These statistics are being provided by the New York-based private foundation called from the Commonwealth Fund.

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