Coronacrisis causes job and insurance losses in the US – survey

The US has become the new epicenter of the COVID-19 pandemic, having recorded more cases compared to other countries

job and insurance losses

Coronacrisis causes job and insurance losses in the US – survey. Source: shutterstock.com

Since Americans started losing their workplaces, some of them no longer have health insurance as the two are often connected, according to GlobalData.

The data found that unless US citizens have private health insurance, they will face upfront payments to obtain medical treatment.

According to the survey, 69% of US respondents revealed that they had health insurance in 2019. Besides, the uptake of health insurance policies among those aged 18–24 was 55% which is the lowest among younger adults.

The report highlighted that the restrictions to slow the spread of the virus have led to increased job losses. This way, the US Department of Labor indicates that nearly 6.6 million citizens registered to claim unemployment benefits as of the end of March 2020.

At the same time, the current unemployment level in the US is nearly ten times higher than the previous record from 1982.

Once the coronavirus situation comes under control, the lessons learned during the pandemic will shape Americans’ attitudes towards private health insurance. Provided that a universal healthcare system is not adopted in the US, it is likely that more Americans will consider having standalone health insurance policies than in the past
Beatriz Benito, Senior Insurance Analyst at GlobalData

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