A recent report by the Transamerica Center for Health Studies suggests adults aged 18-36 lack the funds or knowledge to confidently choose healthcare plans, according to the International Business Times.
Here are nine key findings from the report:
1. Almost half of millennials surveyed were unable or struggled to afford routine healthcare expenses.
2. Another two-thirds could not afford a $200 monthly insurance premium. As a result, nearly half of all respondents skipped out on medical care, according to IBJ.
3. Due to cost, some millennials paid the tax penalty put in place by the Affordable Care Act rather than purchasing insurance, even though more than half of respondents said they suffered from chronic health conditions like depression, anxiety and weight issues.
4. Over 50 percent of respondents said they were not well informed about health insurance, IBJ reported. Not understanding ACA requirements or how to apply for healthcare hindered them the most.
5. Sixteen percent of millennials saw healthcare insurance as a priority.
6. However, 11 percent of millennials are uninsured. This is a decrease from 23 percent in 2013. African-Americans and Hispanic millennials were more likely to be uninsured.
7. Nearly 64 percent of millennials surveyed consulted their mothers or stepmothers regarding health insurance information. Another 36 percent consulted their fathers or step fathers, according to the report.
8. Twenty-seven percent of respondents used sites like WebMD and search engines like Google when making healthcare decisions.
9. In July 2014, 25 percent of millennials did not support the ACA. That number decreased to 6 percent in March, IBJ reported.
The TransamericaCenter for Health Studies study, self-administered online from March 14 through April 6, surveyed 1,171 adults.