Travelers insurance has been one of the main drivers of America’s slow economic recovery, and the United States is on the brink of a catastrophic collapse, according to a new study from the National Association of Insurance Commissioners.
The study found that Americans with coverage are more likely to suffer from illness, lose money, and incur medical bills than the general population, and that the costs of medical expenses have been rising faster than wages in recent years.
The NAAIC study finds that between 2012 and 2017, premiums for Americans who have private health insurance have grown nearly 10 percent, while those who don’t have private insurance have seen premiums fall 7 percent.
The data also shows that, while the number of Americans with private health coverage grew by about 30 percent in that time period, that share of Americans without it has shrunk by the same amount.
The researchers also found that, for the vast majority of Americans, coverage with private insurance was sufficient to help them cover the costs they face, and more than three in four of them are confident that they can afford to pay the bills.
“The American public is getting increasingly desperate about the state of health care in the United State,” the study says.
“Our nation’s healthcare system is crumbling at an alarming rate and it’s costing our economy billions of dollars every single year.”
This is a developing story.
Follow the AP’s coverage of the U.S. healthcare system.