As the job layoffs continue to mount, some economists are predicting 2 million more jobs will be lost. If we assume that each job carries with it $1,400/month health insurance premium that goes to a health insurance company somewhere in America then that is a loss of $2.8 billion in lost revenue MONTHLY.

Looking ahead, economists predicted a net loss of at least 2 million jobs _ possibly more _ this year even if President Barack Obama’s $825 billion package of increased government spending and tax cuts is enacted. Last year, the economy lost a net 2.6 million jobs, the most since 1945, though the labor force has grown significantly since then.

Over the course of a year, that will amount to $33.6 billion in lost revenue annually to the health insurance industry. If we factor the 2.6 million jobs lost last year then we’re talking about another $30 billion lost already! Of course, not every person has health insurance and pays this premium so you can do your own due diligence and try to figure out health insurance losses.

The point of the post is to say that the health insurance industry may be in for some serious losses this year. Insurance companies typically take their premiums and invest them somewhere but returns have been abysmal in this market. It is possible that some health insurance companies may go under if the job losses and lost premiums continue to mount. After this happens, then hospitals and hospital networks will go down in flames as well.

I was considering a career move into the health care industry but those jobs may not be as safe as everyone assumes.