Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Life Insurance Strategies

Uninsured Will Pay $30 Billion For Care In 2008: Study

X
Your article was successfully shared with the contacts you provided.

The uninsured will spend $30 billion out of their own pockets for health care this year while receiving $56 billion in uncompensated care, a new study by the Kaiser Family Foundation finds.

About 75% of their uncompensated care will come from government sources, according to the study by the Kaiser Family Foundation’s Commission on Medicaid and the Uninsured, published in Health Affairs. The article was written by researchers from George Mason University, Fairfax, Va., and the Urban Institute, Washington.

If all the uninsured were covered by insurance, total costs would increase by $123 billion dollars, or an additional 5%, the study concludes. The analysis does not assess how much a universal coverage plan would cost the government, which would vary depending on the details of the approach, according to the authors.

People who are uninsured for a full year receive less than half as much care as the insured and pay 35% ($583) out of pocket towards average health costs of $1,686 per uninsured person, the article says.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.