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)
both your insurance payments and healthcare costs/wages count as GDP.
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.