MOUNTAIN VIEW, Calif.,
Aug. 17, 2020 /PRNewswire/
-- Millennials are financially impacted the most during
COVID-19. A new healthinsurance.com multigenerational survey polled
Millennials, Gen Xers and Baby Boomers about their perspectives on
everything from healthcare and the economy to technology and social
media during the COVID-19 pandemic.
COVID-19 Healthcare and Financial Hardships
51%
of those surveyed say they have experienced financial insecurity
due to COVID-19. Millennials were most impacted with 6 in 10
saying they have experienced financial insecurity during the
Coronavirus pandemic. 52% of Millennials said they've also
had to put off medical care because of cost. Baby Boomers were the
least impacted generation with only 37% reporting financial
hardships during COVID-19. Across the three generations, 3 in
10 respondents say they have or have known someone who has
lost their health insurance during the COVID-19 pandemic -- nearly
40% of Millennials were impacted by this. And when asked
broadly about the U.S. healthcare system, 82% of all
surveyed say it's broken.
Stimulating The American Economy
Gen Xers, Millennials
and Baby Boomers have all been busy hitting that checkout button:
72% report shopping more online during the Coronavirus
pandemic. 77% also say they have made an effort to
patronize small businesses during the pandemic. However, the
overall economic outlook is bleak: 47% don't believe that
small businesses will recover after the COVID-19 pandemic, and an
additional two-thirds think it will take two or more years
for the U.S. economy to recover.
Slowing The Spread of COVID-19
While 87% are
comfortable having their temperature checked before walking into an
establishment, only 4% feel it's an effective way to prevent
the spread of COVID-19. Overall, 4 in 10 think masks are the
most effective way to prevent the spread of COVID-19, but
Millennials and Gen Xers think that social distancing and lockdowns
are almost equally as effective. But the lockdowns are just a
bummer to the Baby Boomers: only 12% think they are
effective.
All generations are worried about kids going back to school with
6 in 10 thinking students should not go back to classrooms
or to college campuses this fall. When asked about getting
vaccinated, 69% say they will. That number was slightly
higher for Baby Boomers: 75% say they will get the vaccine
when one becomes available.
Trusting Telemedicine
Gen Xers are embracing
telemedicine the most with 52% saying they've used
telemedicine services during the pandemic. Meanwhile, 46% of
Baby Boomers are trying virtual visits during COVID-19.
Overall, 60% say they are more comfortable using
telemedicine now than they were six months ago. More than half of
respondents say their doctor has encouraged a telemedicine visit
over an in-office visit. Lastly, 54% say they plan on using
telemedicine when the COVID-19 pandemic is over.
Depending on Digital
50% have video
chatted more with their parents and or kids since the COVID-19
pandemic began, with Millennials reporting the biggest increase.
71% of all respondents find themselves on the computer
or phone more often since the pandemic started, which may be why
39% say they need a digital detox. At 51%,
Millennials were the top generation needing a digital detox - a
multigenerational divide that is very telling.
Staying connected on Social Media
Facebook is still
King with 60% of all generations saying they use Facebook
the most, followed by Instagram at 19% and Twitter at
11%.
75% of Baby Boomers say they use Facebook the most,
compared to 45% of Millennials. Instagram comes in second
among Millennials, with 27% saying it's their preferred
social media platform.
For more findings click here or for the entire
multigenerational survey results click here.
METHODOLOGY:
The above results were gathered through
an online poll of 1,595 Americans aged 24-74. The poll was
conducted August 6-7, 2020, gleaning
representative samples from each state based on population. Samples
were weighted for even sample results for Millennials (ages 24-39),
Gen X (ages 40-55) and Baby Boomers (ages 56-74). Percentages have
been rounded to the nearest full percentage point.
ABOUT HEALTHINSURANCE.COM:
Healthinsurance.com
combines the nation's leading health insurance carriers and
advanced technology to offer a suite of private insurance solutions
and Medicare plan options. In just a few clicks, our website
provides consumers the ability to access powerful online comparison
tools and educational resources that enable efficient self-guided
navigation of available health insurance and Medicare options. For
more information, visit www.healthinsurance.com.
FORWARD-LOOKING STATEMENTS:
Healthinsurance.com LLC is
part of the Benefytt Technologies family companies (NASDAQ: BFYT).
This press release contains "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements other than
historical fact, and may include statements relating to goals,
plans and projections regarding new markets, products, services,
growth strategies, anticipated trends in our business and
anticipated changes and developments in the United States health insurance system and
laws. Forward-looking statements are based on our current
assumptions, expectations and beliefs are generally identifiable by
use of words "may," "might," "will," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential" or
"continue," or similar expressions and involve significant risks
and uncertainties that could cause actual results, developments and
business decisions to differ materially from those contemplated by
these statements. These risks and uncertainties include, among
other things, our ability to maintain relationships and develop new
relationships with health insurance carriers and distributors, our
ability to retain our members, the demand for our products, the
amount of commissions paid to us or changes in health insurance
plan pricing practices, our ability to integrate our acquisitions,
competition, changes and developments in the United States health insurance system and
laws, and our ability to adapt to them, the ability to maintain and
enhance our name recognition, difficulties arising from
acquisitions or other strategic transactions, and our ability to
build the necessary infrastructure and processes to maintain
effective controls over financial reporting. These and other risk
factors that could cause actual results to differ materially from
those expressed or implied in our forward-looking statements are
discussed in HIIQ's most recent Annual Report on Form 10-K filed
with the Securities and Exchange Commission (SEC) as well as other
documents that may be filed by HIIQ from time to time with the
Securities and Exchange Commission, which are available at
www.sec.gov. Any forward-looking statement made by us in this press
release is based only on information currently available to us and
speaks only as of the date on which it is made. You should not rely
on any forward-looking statement as representing our views in the
future. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
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SOURCE healthinsurance.com