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The cost of job-based health care coverage for 2024 is expected to rise at its fastest pace in years as inflation pervades insurance policies.
Along with the stress of a loss of employment comes the reality of living without employer-based group health insurance coverage. Make Money With AI and ChatGPT: How To Earn $1,000 a Month
However, in this case they are not leaving for a separate job, but rather self-employment. Employer provided health insurance has been shown to significantly decrease the number of self-employed, and the bundling of health insurance coverage and employment together, has a negative impact on business creation in the US. [10]
Meeting high deductibles among the biggest challenges
During 2009 the continued low employment rate has negatively affected those who had previously been enrolled in employment-based insurance policies. Census Bureau states a 55 percent drop. Other uninsured Americans have chosen to join a health care sharing ministry as an alternative to insurance. [50]
Medicaid spending would increase by $7 billion because of higher enrollment resulting from a reduction in the number of employers offering health insurance. Tax revenue would rise by $47 billion due to a shift to more taxable income, associated with a decrease in the number of persons enrolled in employment-based health insurance coverage.