Top 5 Habits of Millennials to Reduce Healthcare Costs

Article

Millennials skip wellness visits and delay necessary treatments to save money.

Affordability of healthcare is something that is largely becoming an issue with a majority of Americans, as many cannot afford high costing plans.

With escalating out-of-pocket costs and premiums, along with growing drug costs, the affordability of health insurance is becoming more problematic, especially for certain populations. Millennials, who are people born from 1980 to 1997, are finding it increasingly difficult to afford insurance premiums.

Approximately 11% of this population is still uninsured, according to a study conducted by the Transamerica Center for Health Studies. Being able to afford needed care was said to be the most important aspect of the healthcare system for 37% of participants, yet 13% of uninsured participants indicated they can afford health expenses.

Approximately half of participants said they have skipped care to prevent costs. Of this population, 47% of practices were related to seeking less care and 40% were related to wellness and preventative care.

The most common practices by Millennials to prevent costs:

1. Took vitamins or supplements

Although this could be a good preventative health measure for deficiencies, this will not substitute for primary care or other health services. Approximately 33% of respondents tried to prevent costs this way.

2. Delayed treatment

Delaying needed treatments when sick was a practice 21% of Millennials participated in.

3. Skipped wellness visits

Approximately 14% of respondents skipped wellness visits to minimize costs.

4. Skipped follow-up appointments

Skipping physician recommended follow-up appointments was practiced by 12% of Millennials.

5. Skipped preventative screenings

Approximately 10% of respondents practiced this.

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