Millennials make up more than a quarter of the country’s population and outnumber baby boomers by a staggering 8 million, according to the U.S. Census. Defined as anyone born between 1982 and 2000, millennials are approaching 37 years old and beginning to plan for and start their families—making them the most critical population for companies to consider when defining healthcare and benefits strategies.
What Millennials Want from Health Benefits
For many millennials, starting a family will be their first major experience in the healthcare system, and they expect it to mirror those they regularly have as a consumer. These preferences and experiences inform how they access and engage with healthcare—a significant departure from policies that cater to baby boomers, currently ages 54-72, and generation X, currently 38-53 years old.
Here are a few key findings that drive what we know millennials want from healthcare benefits:
- Virtual appointments: 74% of millennials prefer to see a doctor virtually whenever possible. Driven by this mindset, 32% of millennials report that they have avoided traditional doctor’s office visits completely for the past year.
- Flexible, on-demand solutions: Convenience is key for millennials, with 22% saying that “being seen by a doctor in a timely manner” is a priority when it comes to accessing healthcare. In addition, millennials prefer urgent care and drop-in retail clinics, because they offer evening and weekend hours and shorter wait-times compared to traditional doctors’ offices.
- Transparent pricing: 34% of millennials say their number one priority when considering healthcare is “being able to afford the care I need”, making cost transparency a key driver to seeking care.
- No out-of-pocket expenses: 63% of millennials report that healthcare costs are a significant source of stress in their lives, largely due to unforeseen, out-of-pocket costs.
“For many millennials, starting a family will be their first major experience in the healthcare system, and they expect it to mirror those they regularly have as a consumer.”
How Maven Helps Employers
Companies who are implementing innovative, holistic healthcare solutions that put these preferences first are setting a new standard in the war for millennial talent. Maven can help employers stand out with coordinated, end-to-end care that will engage millennials who are navigating a complex healthcare system for the very first time, while reducing claims and costs to employers.
Here’s how Maven’s comprehensive care delivery model serves millennial needs:
- 24/7 care concierge: Maven’s care coordinators provide referrals and 1:1 support.
- Over 1400 practitioners across 20+ specialties: Maven’s network includes doctors who specialize in OB-GYN and pediatrics, as well as areas that aren’t typically covered by traditional insurance including mental health, lactation, and return-to-work.
- Unlimited appointments: On-demand video chat and messaging with Maven’s network is available whenever they need it, day or night.
- Content and community: Members can explore reliable articles and webinars, participate in provider-moderated forums, and will receive personal guides like a 61-week guide to working parenthood.
- Lower costs, better outcomes: With Maven, millennials no longer have to rely on urgent care clinics, which often carry high costs for employers and out-of-pocket costs for employees.
The Bottom Line
While millennials’ values and habits when it comes to health and wellness differ from those of other generations, they care about the healthcare that they and their families receive. By offering digital and holistic solutions with no out-of-pocket expenses like Maven, companies can better support their millennial workforce, drive employee productivity, improve health outcomes, and gain a competitive edge in attracting and retaining diverse talent.
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