Millennials’ poor health could push up cost of IPMI
News that one-third of US millennials have a serious health condition could have a knock-on effect and push up the price of international private medical insurance (IPMI) globally
A report in the Blue Cross Shield Health Index this week claims that one-third of American millennials have a health condition that reduces their quality of life and ultimately their life expectancy.
People’s health begins to decline at age 27 but in contrast generation X are more likely to be healthier when they are older, the study finds. And unfortunately, this could have a detrimental effect on everyone’s premiums.
Why are millennials having more health problems?
“Based on these findings, we’re seeing that millennials are not seeking preventative care and it’s not only having an effect on their immediate health, but will significantly impact their long-term health as well,” Dr Vincent Nelson, Vice-President, Medical Affairs for Blue Cross Blue Shield said.
Another poll, this time conducted by The Harris Poll for CNBC, found that nearly 44 per cent of the millennial generation, which is classed as those born between 1981 and 1988, report having a diagnosis for at least one chronic health condition.
These include conditions like migraines, major depression, asthma, neurodevelopmental disorders and mental health issues like eating disorders and psychotic disorders.
Are Millennials lovers of travel?
Despite the fact that they are more prone to health problems, millennials and younger travellers are more likely to travel during the pandemic, according to a study by US travel insurer Squaremouth
“Overall, we’ve seen an uptick in travel across all age groups since the rollout of the Covid-19 vaccine,” said Squaremouth Lead Data Analyst, Steven Benna. “Although older travellers are showing that they are more willing to travel than they were a few months ago, younger travellers are still the most comfortable taking trips right now.”
Covid-19 has changed almost every aspect of the travel industry, leading to a significant shift in who is travelling amid the pandemic and who is buying travel insurance, the report found.