Job Cuts And Lower Insurance Rates
About 598000 Americans had to lose their jobs in the past month. The unemployment rate is now 7.6 percent. This means the number of uninsured people have increased as well. Since December, the unemployment rate is up 0.4 percent. This is the data released by the U.S. Bureau of Labor and Statistics. South Carolina’s rate of unemployment increased by 1.1 percent making it 9.5 percent.
Of the unemployed, only 1 in 5 has private insurance. This is according to a new report from Families USA. This organization has said that losing a job equals losing insurance. Many of those laid off cannot afford COBRA. They also do not qualify for public health safety net programs.
The COBRA rate of premium is pretty high and the piecemeal approach to health insurance that the country has taken has not worked. There is also a vicious cycle at work here. American families face a risk of their health security. Since the recession 3.6 million jobs have been lost. The nation is likely to be hurt by the lack of affordable care. To be competitive globally, this is one issue that will have to be dealt with.
