Four in 10 millennials over the age of 26 will select a high deductible health plan when employers offer one as an option.
That's among the major takeaways of the data crunch Benefitfocus did on employer health plan data from 2,400 mid-sized employers. Benefitfocus offers a cloud-based benefits management platform to employers, and used data from employers on its platform. The data from more than 500,000 plan members was evaluated for "Benefitfocus State of Employee Benefits 2016 – Midsize Employer Edition."
Overall, most employees still selected a more traditional benefits plan, the research showed. PPOs were the plan of choice for 87 percent, while just 13 percent of employers in the study offered a HDHP. But when one was included, 34 percent of employees selected it—and 40 percent of those maturing millennials.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
