It seems that millennials aren’t as health-obsessed as we once thought.
New research out of the United States has revealed that for many millennials (those born between 1981 to 1996) investing in long-term health is not really a priority.
Another study has also confirmed that millennials are less healthy than the previous generation were at the same age. The data has revealed that older millennials (aged 34 to 36) suffer from higher rates of the top 10 conditions (including depression, substance use disorder, alcohol use disorder and hypertension) compared to Generation X when they were the same age.
While it might seem puzzling, the trend is similar here in Australia.
Young people are choosing not to sign up for health insurance and many 25 to 29-year-olds who did have cover are ditching it. According to The Conversation, 7000 people in this age group cancelled their coverage between March and June 2019.
Many young Australian’s don’t see health insurance as good value, which is why the mass exodus is occurring. The consequences for the private health industry are dire and it’s now facing a “death spiral”, according to the Saving Private Health 2 report by the Grattan Institute.
“Younger and healthier consumers get a bad deal, so they’re dropping their insurance, which means premiums need to rise, so even more young and healthy people drop out, and the cycle continues,” the report said.
What are millennials prioritising over health?
According to Healthline, millennials are spending their hard earned dollars on experiences, travel, dining out and technology over health and wellness.
The way millennials are influenced about health decisions is also different from previous generations, with many getting their information from sources including articles, blogs and Instagram.
Somewhat surprisingly, the study also found that word of mouth influenced a whopping 93 percent of respondents, while 72 percent admitted that Instagram was the most influential for them when it came to decision making in all areas.