The recession of 2007-09 has cost an estimated 9.3 million American adults their health insurance coverage due to unemployment according to a newly published study by the National Bureau of Economic Research. Canadian pharmacies, like CanadaDrugs.com are offering low cost health solutions to these millions struggling to afford prescription medication.
FOR IMMEDIATE RELEASE
Winnipeg, Manitoba – (December 23 2011)
The “Great Recession” of 2007-09 — the longest and most severe U.S. recession since the “Great Depression” of the 30’s — has cost an estimated 9.3 million American adults their health insurance coverage due to unemployment, reports a research paper published by researchers at Cornell, Indiana and Carnegie Mellon universities.
The study, titled “The Impact of the Macroeconomy on Health Insurance Coverage: Evidence From the Great Recession,” relies on data from the Census Bureau’s Survey of Income and Program Participation and government unemployment data to draw its figure of over 9 Million American families losing health benefit coverage during the worst of the recession months. The study authors are John Cawley, professor in the College of Human Ecology at Cornell University; Kosali Simon, professor in the School of Public and Environmental Affairs at Indiana University; and Asako Moriya from Carnegie Mellon University.
The lack of health insurance and the growth of prescription drug costs over the standard rate of inflation have resulted in millions of Americans being put in a position of being unable to afford necessary prescription medication to maintain their health. CanadaDrugs.com, the largest and most established online Canadian pharmacy, has reacted to this growth of uninsured Americans struggling to afford medication by raising awareness of affordable alternatives and launching campaigns such as the recent Black Friday Drugs promotion where free generic prescription medication was offered to new customers.
“This study just reflects what we are hearing on the phones and in letters from our customers already, mainly that they are in a real financial struggle to afford medication and without insurance, or having benefits cut back, they are worried about how to pay for the prescriptions they need,” said Brock Gunter-Smith, Chief Business Development Officer for Canada Drugs. “We’re going to work even harder in 2012 in getting the word out to more Americans that CanadaDrugs.com offers real cash savings that add up incredibly over record high U.S drug costs in delivering value.”
The research study shows that besides the 9.3 million figures for those without insurance, that there was also a large decrease in the probability of health insurance coverage even those who didn’t lose their jobs during the recession. This may be because employers dropped coverage, cut workers’ hours to the point they no longer qualified for health insurance or increased employee premium contributions leading workers to decline the offer of coverage. With no premiums, deductibles, or co-pays, Canada Drugs is offering the uninsured prescription drug savings of 40%-80% off the U.S prices on thousands of the most commonly prescribed medications such as Plavix, Crestor, Flomax and Nexium.
The online Canadian pharmacy industry emerged in the early 2000’s during the last big recession and has seen tens of millions of Americans order safe, affordable medication at a lower costs online, via mail order and over the phone. The National Bureau of Economic Research study on the health insurance effects of the 2007-2009 recession shows that about nine times as many Americans lost health insurance coverage in the most recent recession as in the recession of 2001, further fueling U.S consumer need for an affordable source of lower cost medications. CanadaDrugs.com will continue to provide Americans lacking adequate health coverage with an option of lower cost discount prescription medication.
Chief Business Development Officer
CanadaDrugs.com Group of Companies
16 Terracon Place
Winnipeg, MB, Canada
Office: (204) 654-7950
Mobile: (204) 291-3494
Fax: (204) 258-7010