Significant changes in health insurance enrollment, such as public and private exchanges and new benefit designs, including high-deductible plans and narrow networks, are requiring individuals to take on greater personal responsibility for selecting the most suitable plan and managing their own benefits and costs – often through Internet portals. Individuals must become better informed health care consumers who are skilled at using the latest technology to navigate the system and get the most out of their health coverage.
The size, diversity and buying power of the population segment known as millennials or Generation Y (ages 18-34) make them an important group to study. According to the Pew Center, this generation constitutes the largest segment of the U.S. workforce and has surpassed baby boomers as the largest living generation.
By engaging millennials, health care sector leaders can plan a future when individual consumers can manage their own health insurance purchases, provider choices, benefits and expenditures simply and cost-effectively.
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