If you’re asking why the number of young adults enrolling in health plans post-ACA is falling, consider economics. Not only have many young people remained on their parent’s plan to age 26, but student debt and a slow, economic recovery have also taken a toll. This is especially troubling when you consider that people age 18 to 34 will represent half of our workforce by 2020 and 75% by 2025.
While economics is involved, we must know where to find young people before we can move them to act, so taking time to learn their likes, dislikes and habits is a must. And no habit is more popular among young adults than media. Individuals age 18 to 36 spend nearly 18 hours a day using smart phones to engage in social media, music, videos and gaming. They’re accustomed to shopping online for virtually everything and they expect quick answers with comparative pricing.
Keeping things simple is critical, as shown by a 2015 National Bureau of Economic Research study that revealed that offering just one health plan will produce better results than offering many options.
Millennials love sight and sound, so short, light or funny educational videos that simplify benefits or wellness may go a long way. Lasting relationships will develop if education and communication are ongoing. The time to get serious is now, because they are here and chances are most will expect to manage their health and healthcare the same way they do everything else – with technology.