Employee Benefit Research Institute announces Health Insurance coverage

(Washington, DC – Insurance News and Markets) – Employee Benefit Research Institute announces health insurance coverage findings from first months of Affordable Care Act implementation

According to the EBRI Notes article published in July, health insurance coverage grew for individuals under the age of 65, between 2013 and 2014. Data from 2013 and 2014 was gathered based on a supplement to the Current Population Survey, and this data provides some initial findings about the Affordable Care Act’s first year impact.

Approximately 3.8 million individuals were uninsured in 2014, as compared to the previous year, when that number was about 5.5 million (this is a 31 percent reduction in the uninsured). These reductions came mostly from expansion of individual health coverage and Medicaid.

Of all California residents, young adults and those who had lower incomes were most likely to be uninsured, and those categories saw the greatest reductions. Workers in small companies had the highest rate of uninsured individuals in 2013, although it was the companies that have more than 50 employees that saw the greatest number of individuals obtaining insurance. It was the Latino ethnic group that saw the highest rate of uninsured individuals in 2013 (22.8 percent); that group saw a 31 percent year-over-year decline to 15.8 percent, but Asians saw the largest year-over-year rate decline of 36 percent (from 12.1 percent uninsured to 7.7).

Source: Employee Benefit Research Institute®