The COVID-19 pandemic has wreaked havoc on nearly every aspect of our health care system, including the group insurance market. As unemployment levels soar, an estimated 10.1 million people will lose their employer-sponsored insurance, according to a recent analysis from the Robert Wood Johnson Foundation and the Urban Institute.
Overall, employer-sponsored health insurance enrollment is estimated to drop by 7.3 million, as many of those who lose their current coverage will switch to a family member’s plan. As noted by other studies, many of those who lose their insurance will opt to enroll in Medicaid or purchase a plan on the ACA exchanges, and some will simply go without, adding to the current uninsured rate. According to the study, the uninsured rate is estimated to hit 9.2% in states that have expanded Medicaid, and 15.6% in states that have not. Read More: BenefitsPRO