As health insurance has become an increasingly heated social and political topic, investigators are finding that some health insurance providers may actually be ignoring younger generations.
While no one enjoys receiving stacks of advertisements and promotional mailers in their daily deliveries, there is a definite decline in marketing for younger generations!. This may save on one’s mail load, however, this gradual decline may prevent some in-need families from gaining access to pertinent provider packages, discounts, and offers. As health insurance companies have statistically targeted more towards baby boomers than towards the younger X and Y Generations, experts warn the Gen X and Y-ers to become more proactive in seeking health coverage.
An Analysis of the Generations
To examine the marketing histories of most health insurance companies, major analysts have compared the baby boomer generation to individuals from the X and Y generations. Known as the younger generations, Generation Y is a label that typically classifies a range from the 1980s to the 1990s, while Generation X usually refers to the years ranging from the 1960s to the 1970s. As the older and most populous generation, the baby boomers were born in the close years following WWII. By analyzing these various age / generational groups, studies prove that individuals from Generation X were reportedly sent 15 percent less health insurance marketing / mailing offers in June of 2009 (when compared with the baby boomer generation).
Adding to this, Generation Y is estimated to receive 25 percent fewer marketing / mailing offers than their own parents’ generation! Yet, amazingly, as all generations need and require health insurance coverage, experts argue that each generation should be catered and marketed to equally.
Health Care for Gen X and Y
In examining the decline in health insurance marketing over the span of aging populations, experts argue that Generation X is a generally under-served and in-need market. As Gen X is classified as a target group that is typically caring for younger children and aging parents. In fact, a survey shows that 72 percent of Generation X is saving for their child’s future education, while 53 percent of the Gen X group is even anticipating to care for their parent(s) and / or relative(s) in the future. As such, having access and information on beneficial health coverage plans is imperative.
Yet, Gen X is not alone, as Generation Y is also experiencing an overall decline in marketing and offers. Ultimately, to avoid the common pit-falls of misinformation and lack of access, experts argue that Gen X and Y populations should actively seek out information to best meet their family’s current and future needs. As the Gen X and Y populations are growing to be the new target market for expansive health insurance packages, an independent evaluation of programs can allow families to more thoroughly prepare for imperative health-related demands in the future.
