Ways Millennials are Changing the Healthcare Industry

Ways Millennials are Changing the Healthcare Industry

Millennials have fully entered the workforce. And, as the largest generation currently residing in the U.S., they have the capacity to influence and change work culture. For example, many Millennials work as freelancers and have multiple employers. Or, if not freelancers, a substantial number of young adults work two or more part-time jobs instead of one full-time job. This means that their health insurance plans are different from their parents’ and grandparents’ plan. It is likely that they hold private insurance policies (as opposed to signing up through an employer). Or, in some cases, Millennials receive partial health insurance through an employer and must seek supplemental health insurance through a different source. However, the insurance professionals at Plan IV keep up with changes in the healthcare industry, and we are here to help Millennials find the best and most affordable healthcare coverage.

A Quick Guide for Millennials Who Need Supplemental Health Insurance or an Out-of-Pocket Plan

Here is a simple overview of healthcare plan options for young adults (Millennials and Members of Generation Z). When looking at health insurance, you typically have three primary options.

1 – Health Coverage Through a Parent

If you are under the age of 26, you may be eligible for coverage under a parent’s plan. This is a cost-effective and easy way to maintain coverage while you are exploring your options as an adult. And, typically, this option is available whether you are married or single, living with your parents or separately. Just remember that this benefit ends when you turn 26, so take this time to take a close look at options 2 and 3.

2 – Health Coverage Through Your Employer

If your employer offers health care plans to employees, this is normally a money-saving option for eligible Millennials. Just make sure that the plan(s) offered by your employer fit both your needs and your budget. Otherwise, you may still do better with option 3, depending on your age, overall health, and your marital status (whether you are single, married, or have dependents of your own).

3 – Health Coverage Offered in the Marketplace

If you must get private coverage for yourself, a spouse, and/or dependents, there are many options available in the marketplace. Subsidies are available for some individuals, but, even without subsidies, you can still find affordable coverage at many different levels. Of course, it is wise to shop around for the best deals and options and to speak with a knowledgeable representative from Plan IV. We can help you find competitive supplemental health insurance plans, the best long-term care insurance plans, dental and vision options, and much more.

Contact Plan IV for the Very Best in Health Insurance Michigan, Human Resource Outsourcing, and Dental and Vision Coverage

If you are a Millennial with questions about healthcare coverage or a Michigan residence of any age who needs health insurance, disability insurance, or identity theft insurance, call Plan IV at (248) 689-4910 or reach out to us through the contact form on our website.