Millennial workers (defined as born 1977-2000) view and use health benefits very differently than their baby boomer (1946-1965) and gen X (1966-1976) colleagues.
According to the 2015 Consumer Engagement in Health Care Survey, millennials are generally very well-informed about their options. They also report higher levels of satisfaction with health care choices and the financial aspects of their plans. Millennials are more actively engaged in picking out a health care plan and making cost-conscious decisions. They are also more likely to engage in healthy behaviors (except smoking).
“We find profound difference in how Millennials deal with health issues and health coverage than their older colleagues at work,” said Paul Fronstin, director of EBRI’s Health Education and Research program, and co-author of the report. “It’s no surprise that employers are interested in the role of millennials in the labor force. It’s important for employers to understand differences in generational cohorts to better adapt to a changing workforce.”
Here are a few of the survey findings:
Knowing the different values, expectations and experiences each generation has for making future health care plan decisions may help school, city and county employers adapt to the ever changing workforce.
Download the survey results to see what each generation values when it comes to health insurance.