A survey that InsuranceQuotes.com commissioned finds that 24% of young adults between ages 18 and 29, known as millennials, do not have health insurance.
Individuals in this group, according to the vendor, are less likely than all other age groups to have health care, automobile, life, homeowner’s, renter’s and disability insurance, according to the survey, which Princeton Survey Research Associates International conducted in English and Spanish with 1,003 respondents.
Millennials are 10% more likely to lack health coverage than adults age 30 and over despite paying lower costs, receiving subsidies based on income and possibly staying on their parent's health insurance policy until age 26, according to InsuranceQuotes.com.
One reason for the lack of insurance may be that 60% of those surveyed believe they are somewhat or very prepared for a financial disaster. For those who do get health insurance, 36% have a minimum-coverage policy, compared with 23% of adults age 30 to 49. Burdensome student loans may also account for the lack of buying health insurance.
More survey results, commentary and tips to promote coverage are available here.
Joseph Goedert is an editor with Health Data Management, a SourceMedia publication.
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