Healthcare solutions for millennial families

Millennials make up more than a quarter of the country’s population and outnumber baby boomers by a staggering 8 million, according to the U.S. Census. Defined as anyone born between 1982 and 2000, millennials are approaching 37 years old and beginning to plan for and start their families—making them the most critical population for companies to consider when defining healthcare and benefits strategies.

What Millennials Want from Health Benefits

For many millennials, starting a family will be their first major experience in the healthcare system, and they expect it to mirror those they regularly have as a consumer. These preferences and experiences inform how they access and engage with healthcare—a significant departure from policies that cater to baby boomers, currently ages 54-72, and generation X, currently 38-53 years old.

Here are a few key findings that drive what we know millennials want from healthcare benefits:  

• Virtual appointments: 74% of millennials prefer to see a doctor virtually whenever possible. Driven by this mindset, 32% of millennials report that they have avoided traditional doctor’s office visits completely for the past year.
• Flexible, on-demand solutions: Convenience is key for millennials, with 22% saying that “being seen by a doctor in a timely manner” is a priority when it comes to accessing healthcare. In addition, millennials prefer urgent care and drop-in retail clinics, because they offer evening and weekend hours and shorter wait-times compared to traditional doctors’ offices.
• Transparent pricing: 34% of millennials say their number one priority when considering healthcare is “being able to afford the care I need”, making cost transparency a key driver to seeking care.
• No out-of-pocket expenses: 63% of millennials report that healthcare costs are a significant source of stress in their lives, largely due to unforeseen, out-of-pocket costs.  

“For many millennials, starting a family will be their first major experience in the healthcare system, and they expect it to mirror those they regularly have as a consumer.”