Income and insurance

The Census Bureau has a new report out about income, poverty, and insurance coverage. Here are some highlights:

Insurance:

  • The number of people with health insurance increased to 260.2 million in 2011 from 256.6 million in 2010, as did the percentage of people with health insurance (84.3 percent in  2011, 83.7 percent in 2010).
  • The percentage of people covered by private health insurance in 2011 was not statistically different from 2010, at 63.9 percent. This was the first time in the last 10 years that the rate of private health insurance coverage has not decreased. The  percentage covered by employment-based health insurance in 2011 was not statistically different from 2010, at 55.1 percent.
  • The percentage of people covered by government health insurance increased from 31.2 percent to 32.2 percent. The percentage covered by Medicaid increased from 15.8 percent in 2010 to 16.5 percent in 2011. The percentage covered by Medicare also rose over  the period, from 14.6 percent to 15.2 percent. The percentage covered by Medicaid in 2011 was higher than the percentage covered by Medicare.

oh and the percent without insurance in the 19-25 year age group went down by 2.2%–thanks Obamacare.

Income:

  • Median family household income declined by 1.7 percent in real terms between 2010 and 2011 to $62,273. The change in the median income of nonfamily households was not statistically significant.
  • In 2011, real median household income was 8.1 percent lower than in 2007, the year before the most recent recession, and was 8.9 percent lower than the median household income peak that occurred in 1999. The two percentages are not statistically different from one another.
  • Income inequality also increased between 2010 and 2011 when measured by shares of aggregate household income received by quintiles. The aggregate share of income declined for the middle and fourth quintiles. The share of aggregate income increased 1.6 percent for the highest quintile and within the highest quintile, the share of aggregate income for the top 5 percent increased 4.9 percent. The changes in the shares of aggregate income for the lowest two quintiles were not statistically significant.

so the economy is still quite weak–unemployment is still a bigger problem than the deficit. And there is no class-warfare in the US but one group seems to be winning.

Poverty:

  • In 2011, the family poverty rate and the number of families in poverty were 11.8 percent and 9.5 million, respectively, both not statistically different from the 2010 estimates.
  • In 2011, 6.2 percent of married-couple families, 31.2 percent of families with a female householder and 16.1 percent of families with a male householder lived in poverty. Neither the poverty rates nor the estimates of the number of families  in poverty for these three family types showed any statistically significant change between 2010 and 2011.

That’s pretty pathetic, maybe we can start talking about poverty in the US?

1 Comment (+add yours?)

  1. Trackback: An inane article about income inequality « Petunias

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