In 2011, 46.2 million Americans were living in poverty, and 10.4 million of these impoverished individuals were considered “working poor”—defined by the U.S. Bureau of Labor Statistics as a person who spent at least 27 weeks in the labor force during the past year but earned an income that fell below the official poverty level. The poster of child for America’s working poor? Young Black and Hispanic women. America also faces a serious health insurance crisis. In 2012, 46 percent of adults aged 19-64 were underinsured or uninsured.
The minimum wage really stifles the poor—the U.S. federal minimum of $7.25 an hour (unchanged since 2008) makes it nearly impossible to make ends meet. What plans do the Obama Administration have? The administration has proposed raising the federal minimum wage to $9.00 an hour. Of course, the administration also successfully pushed for the Patient Protection and Affordable Care Act, also known as ObamaCare. Beginning on January 1, 2014, Medicare will be extended to those with family incomes up to 133 percent of the federal poverty level, unless states choose not to participate.
Do you think ObamaCare will really make a difference? Please share in the comments, and check out the infographic below presented by InsuranceQuotes.
From: Bankrate Insurance’s InsuranceQuotes.com