Rate of Uninsured Americans to Rise to Nearly 9% in the Next Decade, Congressional Budget Office Report Shows

By Jace Dela Cruz

Jun 19, 2024 08:32 AM EDT

A Congressional Budget Office (CBO) report released on Tuesday showed that the uninsured rate among Americans will increase from 7.7% in 2024 to 8.9% over the next decade.

According to Reuters, this rise is attributed to increasing immigration and reduced eligibility for 19-to-24-year-olds after federal policy changes.

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(Photo : Tumisu from Pixabay)

Uninsured Americans Will Be on the Rise

Jessica Hale, an analyst at the CBO, noted that the uninsured rate for recent immigrants would be about four times higher than the overall population due to eligibility criteria for major federal health programs, which depend partly on immigration status.

The report highlighted that the termination of a COVID-19 policy requiring states to retain Medicaid enrollment and the expiration of additional subsidies for Obamacare plans are anticipated to reduce the insured rate among younger adults. 

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17 Million Uninsured Individuals

The most notable drop in the number of insured individuals is anticipated over the next two years, with the rate stabilizing around 9% between 2027 and 2034. This will impact approximately 32 million people, which is lower than pre-pandemic levels due to an older population.

By 2034, it is projected that 17 million individuals aged 19 to 24 will be uninsured. This is primarily because of limited access to employer-sponsored plans and a higher percentage of undocumented immigrants who are ineligible for government-funded programs.

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