A Medicaid insurer has recently pledged nearly $1 billion to fund an initiative aiming to build affordable housing units in the United States in an effort to address one of the biggest determinants of health.
Speaking at Fortune's Brainstorm Health conference last week, Centene CEO Sarah London said the Centene Foundation has entered into a multiyear partnership with McCormack Baron Salazar to create thousands of affordable housing units and provide below-market loans for housing units in eight states.
"It's about doing a lot with a little, which is something that our members are uniquely amazing at and I think speaks to our mission of transforming not just health care but transforming the health of the communities that we serve," London said in the conference. "We, of course, make sure that there is access to health care, but we also think about what are those things that are other drivers to health outcomes."
Centene is not the only organization in the public health community that has invested in affordable housing units. Last week, the UnitedHealth Group announced it has invested over $1 billion in affordable housing.
"Supporting healthier and more equitable communities does more than just improve individual lives. Understanding the needs of communities can help make the whole system work better for everyone. We will continue to work with communities to provide services that fit their specific needs," Catherine Anderson, senior vice president of Health Equity Strategy at UnitedHealth Group, said.
In 2022, Kaiser Permanente also pledged $400 million to economic development and housing to increase its total units of affordable housing from 15,000 to 30,000 by 2030.
How Does Housing Instability Affect Health
Americans suffering from housing instability could also be facing mental health challenges, including emotional, psychological, and social well-being. A study found that intermittent and persistent exposure to housing affordability stress negatively affected self-reported mental health related to social, emotional, and mental functioning.
A separate study published in 2017 found that homeowners with missing mortgage payments or those having trouble paying their monthly mortgages experienced anxiety, depression, feelings of shame, and social isolation.
Furthermore, University Health noted that a lack of safe, affordable housing can increase an individual's risk of developing health problems due to their inability to afford other basic necessities, including food, medication, and transportation.
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