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Health Insurance Industry Not Recession Proof

While health insurance was once viewed as a sector of the economy which would not suffer in a recession, as people will always require healthcare, it seems that this view no longer holds true. More and more people have lost their health insurance after losing their job, and even those who retain their coverage cannot afford to pay the copays to have treatments done or to fill prescriptions. People are finding themselves in situations where they can pay their mortgage, or they can pay for their healthcare, and mostly people are choosing to keep their homes. How drasticly bad must our economy be for the healthcare industry to suffer such as it is? Will this result in any health care costs going down as companies are forced to compete for business?

This entry was posted on Wednesday, November 5th, 2008 at 12:31 pm and is filed under Health Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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