Millions across the country will discover just how much their plans will cost when open enrollment for Affordable Care Act insurance plans begins on Nov. 1.
I’m no expert, but i suppose because it reduces the flow of money - fewer transactions (people not getting healthcare, not billing insurance, insurance not paying for healthcare given to people because they’re not getting any healthcare) = reduced total domestic product. Whether it’s reduced by a measurable amount is another question.
Why would GDP drop if people stopped having insurance? (Serious question)
I’m no expert, but i suppose because it reduces the flow of money - fewer transactions (people not getting healthcare, not billing insurance, insurance not paying for healthcare given to people because they’re not getting any healthcare) = reduced total domestic product. Whether it’s reduced by a measurable amount is another question.
I think also the fact that sick people usually don’t work, and in the US they don’t get paid when sick, so less money available to be spent.
both your insurance payments and healthcare costs/wages count as GDP.