Health insurance costs are rising in part due to unhealthy Millennials

Health insurance costs - Millennials

A recent Blue Cross Blue Shield Health Index points to medical claims in younger people.

A recent Blue Closs Blue Shield Health Index medical claim study showed that health insurance costs are being driven upward by the frequency of claims from medical conditions among Millennials.

Though still young, this generation has a range of conditions reducing quality of life and life expectancy.

According to the study, one in every three Millennials has a medical condition that will reduce their quality of life and life expectancy.

“Based on these findings, we’re seeing that millennials are not seeking preventative care and it’s not only having an effect on their immediate health, but will significantly impact their long-term health as well,” said Medical Affairs for Blue Cross Blue Shield Vice President Dr. Vincent Nelson.

The Millennial generation is defined as individuals born between 1981 and 1988. Among them, almost 44 percent report having received a diagnosis for a minimum of one chronic health condition, in a survey conducted by The Harris Poll on behalf of CNBC Make It. When compared to the general public, this generation has a significantly higher percentage of diagnoses for asthma, migraines, major depression, neurodevelopmental disorders, and mental health conditions such as psychotic disorders and eating disorders, said the survey results.

The Blue Cross Blue Shield study aligned with this data and showed that the rates of those in the Millennial generation managing health conditions are substantially greater than is the case of people in the Gen X generation. Though Generation X is slightly older than Millennials, the researchers found that they are more likely to be healthier as they age.

The study showed that health insurance costs are rising as claims start coming in at an earlier age.

Among Millennials, the overall health started declining at age 27 years. This is considerably earlier than has been recorded in older generations. Moreover, the research showed that geography appears to play a role. Millennials from southern states such as Louisiana, Alabama and West Virginia had a lower healthy level than those in western states such as California, Nevada, Colorado and Arizona.

Health insurance costs - MillennialsThe earlier in life a large group like a generation starts making regular claims, the more this drives up health insurance costs, meaning that premiums eventually need to rise in order to compensate.

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