43 Million Americans Could Lose Health Insurance, Study Shows

At least 43 million Americans could lose their current health insurance amid the ongoing COVID-19 (coronavirus) pandemic, a new study has shown.

As Newsweek reports, these new findings came in light of the surge of unemployment filings that have arisen as COVID-19 continues to devastate the economy, leaving millions out of work nationwide. A study from the Urban Institute's Health Policy Center revealed between 25 million and 43 million Americans could lose, or have already lost, their health insurance linked to their employers.

The research, supported by the Robert Wood Johnson Foundation, explained, "Thirty million workers filed initial unemployment claims between March 15 and April 25. Near-term forecasts suggest the unemployment rate will likely be between 15 to 20 percent by June.”

Although some Americans who live in states that have expanded the Affordable Care Act (ACA) can still apply for Medicaid benefits, the study estimates coverage will be unaccessible for many others.

"With 20 percent unemployment, we estimate that 25 million people would lose employer- sponsored health insurance,” the research projected. “Of these, 11.8 million would gain Medicaid coverage, 6.2 million would gain marketplace or other private coverage, and 7.3 million would become uninsured.”

Of that 20 percent unemployment, the analysis projects, 43 million people could be severed of their health insurance through their employment, with 12.1 million becoming unable to access Medicaid or apply for insurance via the ACA.

As of Friday (May 8), the Department of Labor reported the official unemployment rate rose to 14.7 percent in April — and economists predict that number to rise throughout May.

Photo: Getty Images