5.4 Million Americans Have Lost Health Insurance During the COVID-19 Pandemic

The COVID-19 crisis has sent unemployment levels through the roof. In April, the jobless rate topped out at 14.7% before gradually dropping to 11.1% in June. But let's not kid ourselves: Double-digit unemployment is very much bad news, especially at a time when COVID-19 cases are surging, further shut-downs seem inevitable, and our current recession is still holding steady.

But lost wages aren't the only casualty of the pandemic. An estimated 5.4 million Americans have lost their health insurance along with their paychecks. By comparison, only 3.9 million workers lost insurance during the Great Recession ("only" being a relative term, of course).

Given the number of Americans who rely on their employers for subsidized health insurance, these numbers aren't shocking. In 2018, more than 160 million Americans got a health plan through work. And those who are now jobless and eager to get insurance may not have such affordable options to wade through.

Continue reading

Source Fool.com