A new report indicates that as many as 9 million people lost their health insurance benefits during the most recent recession.
According to a paper published by the National Bureau of Economic Research, researchers from Cornell University and Carnegie Mellon University found that approximately nine times as many Americans lost their health coverage between 2007 and 2009 than during the previous recession, which took place in 2001. White, college-educated men were the hardest hit. In fact, men in general were much more likely to lose out on their benefits, as 7.1 million went without coverage compared to 2.2 million women.
Meanwhile, the number of children with coverage actually rose during the Great Recession. Researchers say about 4.2 million who had no health benefits prior to 2007 gained them by 2009. The report said the reason for this was more children became eligible to receive Medicaid and state health insurance benefits.
Health insurance is a significant issue that's forcing many Americans to reconsider how they spend. Agents should do all they can to make sure their insurance leads are aware of health insurance coverages so that an affordable plan can be obtained.