Incomes flat while health coverage grows

| Sep 25, 2015 | Care Planning

Over the last two years many American families have visited the online health care marketplace in search for affordable health coverage. While this new option may be working for some American families, a new report in The New York Times shows even affordable health care may be too expensive for many.

The White House reports that while the numbers show an increase in families receiving health care coverage from that of two years ago, numbers showing median income level are still flat. What exactly is the link here? Well, the idea that the Affordable Care Act would provide every man, woman and child with health care coverage only works if they can afford the affordable. With the poverty level stagnantly sitting unchanged for the last four years and median incomes not reflecting any measurable increase, individuals receiving health care coverage through the marketplace will do so if they can afford it.

While the new census numbers show the Affordable Care Act is somewhat a success, they also show that for millions of Americans, economic recovery may still be a long way off. Seven years into what some consider an upturn in the economy and average American families have yet to see any measurable benefit.

For individuals and families still experiencing financial struggle, planning for health care may seem impossible. Even for the most well prepared, unexpected health changes and illness can quickly put us into a position of struggle. If you are concerned that your health coverage is not enough for your future needs, you may benefit from speaking to an attorney. With their help, you may be able to better plan for the unexpected and safeguard all you have worked for.

Source: New York Times, “Health Care Gains, but Income Remains Stagnant, the White House Reports,” Robert Pear, Sept. 16, 2015