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'Unbanked' May Soon Equal Uninsured

Sunday, May 26, 2013 - 8:01 AM
For consumers fed up with bank fees, prepaid cards may seem like an increasingly attractive alternative today. Some of today's prepaid cards come with an array of features that make them closely resemble checking accounts -- right down to the FDIC insurance the American Express Bluebird Card carries.

However, a study from Jackson Hewitt may give pause to those who might use these cards to join the ranks of the "unbanked." According to the study, those without a checking account may find they are unable to buy health insurance through the government exchanges set to debut this fall.

Will People Without Checking Accounts Be Denied Health Insurance?


 
7
ShorebreakShorebreak2,695 posts since
Apr 6, 2010
Rep Points: 14,611
1. Sunday, May 26, 2013 - 9:13 AM
A savings account may not be a solution either because many institutions do not allow drafts from savings accounts (see a related DA discussion at How will people without a bank account buy health insurance under ACA?)
6
pearlbrownpearlbrown1,485 posts since
Nov 2, 2010
Rep Points: 6,454
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