Reports show poorer health projections for millennials compared to GenX; potential economic burden
Philadelphia – November 6, 2019 – Today, Independence Blue Cross (Independence) hosted the inaugural 2019 Health of America Forum, Millennial Health: A Call to Action (the Forum), in partnership with the Blue Cross Blue Shield Association (BCBSA). Independence and BCBSA convened business leaders and employers, physical and behavioral health providers, Millennials and more at the Kimmel Center for Performing Arts to discuss improving the health of Millennials.
According to a recent Blue Cross Blue Shield, The Health of America Report®, Millennials are facing significant health issues at an earlier age than in previous generations and are setting new expectations for how they engage with the healthcare system. In the months after the report’s April 2019 release, Blue Cross and Blue Shield companies hosted Listening Sessions and surveys to connect with thousands of people across the country on key areas of Millennial Health. Today’s Millennial Health Forum served as a platform to discuss the issues at hand and take the next steps toward finding solutions.
Forum speakers elaborated on the provider and patient relationship, discussed innovative care models for integrating behavioral and physical healthcare, and shared forward-thinking solutions that increase healthcare access and engagement in the workplace.
“Millennials are poised to make up the largest share of the U.S. population and workforce, making it imperative to understand and address the health challenges of this generation,” said Daniel J. Hilferty, CEO of Independence Blue Cross. “In light of the Health of America report, it became clear to us that the health care industry needs to proactively address the barriers Millennials face when obtaining care and work toward identifying meaningful solutions. We are proud to work with the Blue Cross Blue Shield Association and to start this conversation with key national thought leaders here in Philadelphia.”
In conjunction with the Forum, a Moody’s Analytics report analyzing Blue Cross Blue Shield Health Index data had key findings including:
- Millennials are seeing their health decline faster than the previous generation as they age. This extends to both physical health conditions, such as hypertension and high cholesterol, and behavioral health conditions, such as major depression and hyperactivity. Without intervention, Millennials could feasibly see mortality rates climb more than 40 percent compared to Gen-Xers at the same age.
- Poorer health among Millennials will keep them from contributing as much to the economy as they otherwise would, manifesting itself through higher unemployment and slower income growth. Under the most adverse set of projections, lower levels of health alone could cost Millennials more than $4,500 per year in real per-capita income compared to similarly aged Gen-Xers.
Independence CEO Hilferty stated that the Millennial Health Forum will serve as a catalyst for improving the health and well-being of Millennials. “We have arrived at an inflection point,” he said. “Now we have to shift from listening to action.” Hilferty also announced some of the next steps that Independence will take:
- Independence and the Economy League of Greater Philadelphia will issue a citywide challenge to civic innovators in communities across Philadelphia to surface promising ideas for addressing millennial mental health.
- Independence will also launch a community awareness campaign focused on promoting mental health wellness.
- Toolkits for providers, employers, and members will be developed to address the millennial health challenge.
For more information on the Health of America, visit ibx.com/healthofamerica.
About Moody’s Analytics
Moody’s Analytics, a unit of Moody’s Corporation, helps capital markets and risk practitioners worldwide respond to an evolving marketplace with confidence. We offer unique tools and best practices for measuring and managing risk through credit analysis, economic research, and financial risk strategy.
About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve more than 8 million people nationwide, including 2.5 million in the region. For 80 years, we have been enhancing the health and well-being of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more, visit www.ibx.com. Connect with us on Facebook and on Twitter. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.
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