Millennials more satisfied with health plans, out-of-pocket costs than baby boomers

Megan Knowles - Print  | 

The majority (53 percent) of millennials are extremely or very satisfied with out-of-pocket costs for prescription drugs, compared to less than half of baby boomers and Generation Xers, according to the Employee Benefit Research Institute and Greenwald & Associates Consumer Engagement in Health Care Survey.

The online survey examined issues around consumer-driven healthcare, including insurance cost, care cost, healthcare satisfaction, healthcare plan satisfaction, why consumers chose a plan and health information sources. The survey was conducted during 2017 using research consulting firm Ipsos' panel of online consumers who agreed to participate in research surveys.

Survey participants included more than 3,560 adults ages 21 to 64 who had health insurance provided through an employer, purchased directly from a carrier, or purchased through a government exchange.

The majority of survey participants (82 percent) received coverage through an employer. The sample was weighted to reflect the actual proportions in those ages 21 to 64 with private health insurance.

Here are three survey findings focused on differences in consumer engagement according to three generational groups (millennials, baby boomers and Gen Xers).

1. The majority of baby boomers (55 percent) and millennials (56 percent) are extremely or very satisfied overall with their healthcare plan. Only 47 percent of Gen Xers said they are extremely or very satisfied overall with their healthcare plan.

2. Over half (53 percent) of millennials are extremely or very satisfied with out-of-pocket costs for prescription drugs, compared with 45 percent of baby boomers and 44 percent of Gen Xers. Forty-two percent of millennials are extremely or very satisfied with out-of-pocket costs for other medical services, compared with approximately one-third among baby boomers and Gen Xers.

3. When comparing the three generational groups, millennials are more likely to be extremely or very satisfied with the ease of selecting a health plan, the information available to understand health plan choices, the number of health plans to choose from and the availability of affordable health plans. Between 46 percent and 56 percent of millennials are extremely or very satisfied with these aspects of health plan choices, while only 29 to 46 percent of baby boomers and 33 to 46 percent of Gen Xers are extremely or very satisfied.

More articles on patient engagement: 
Survey: Majority of physicians don't think patients listen to lifestyle advice
Nearly one-fourth of US population has low health literacy: 5 findings
Study to measure how sleep tracking can improve patient-provider communication

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