The end of the COVID emergency could mean the Lose of Health Insurance for millions of Americans. This emergency reduced the number of Americans without health insurance to a historic low. It was the only silver lining one could associate with this pandemic.
As the pandemic reaches its end, these people can potentially lose of health insurance. The country may see a steep increase in the number of uninsured people. Unless the government extends its initiative, millions of people could lose a crucial benefit.
Medicaid is a joint initiative of federal and state governments. Americans with low income get health insurance under this program. Before the pandemic, states would only allow eligible people to get enrolled. They would also remove those who no longer qualified for the program.
During the pandemic, the federal government introduced a policy that prevented the exclusion of anyone from Medicaid. Under this policy, the federal government increased Medicaid funding to states. This funding allowed even the uneligible people to stay enrolled. It boosted the number of people enrolled in this program by 25 percent.
With the expiry of the public health emergency, the federal government may cease its extra funding. It will push the state governments to revert to past practices. In this process, potentially 15 million people may Lose of Health Insurance. It will include those whose income has increased or who have moved to another state.
People dearly need health insurance to cover their medical expenses. The absence of health insurance will put ordinary Americans under a massive burden. They may no longer afford medical treatment. High medical expenses will make lives extremely tough for them. The USA is an expensive country where even an inhaler costs $50 to $100.
Life Insurance Estimator
Affordable Care Act
On top of everything, the Affordable Care Act will expire at the end of 2022. Under this act, the government subsidizes insurance plans for Americans with lesser income. Under this scheme, a person can buy a health insurance plan with an actual price tag of $560 at $390.
These are extraordinary times. Although the pandemic is wearing down and the number of daily deaths is declining. Still, a new omicron subvariant is on the rise. Also, one-third of Americans are yet to receive the vaccination. All of this may put middle-class Americans in a difficult situation.