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Choosing the Right Health Benefits for Your Five-Generation Workforce If you're a benefits leader for a business in Connecticut, you may have a Gen Z developer working down the hall from an executive board member who's part of the Silent Generation. Not only are they from different generations, but they also have different priorities and expectations when it comes to health insurance. Connecticut has been recognized for making steps to accommodate the diverse range of employees in today's workforce. From its progressive telemedicine laws to its parental leave options, employers across the Nutmeg State are embracing the preferences of younger generations like Millennials when it comes to their health care. As an employer, you can be prepared to meet the range of expectations that each generation has for their health care. But first, it's important to understand the lifestyles and characteristics that make up each of the five generations in today's workforce. Understanding all five generations in the workforce To better understand the needs of each generation, here's a little more about each: The Silent Generation consists of workers born before 1946, and although they only account for 2% of the current workforce, they are among the highest users of health care—along with Baby Boomers, who currently make up 25% of the workforce. The Boomers were born between 1946 and 1964, and generally prioritize word-of- mouth recommendations when it comes to their health care choices. Generation X—born between 1964 and 1980—accounts for 33% of the multi-generational workforce. Gen-Xers are more active in pursuing information about their own health and have more in common with Millennials than with Boomers. When it comes to information, Millennials—born between 1981 and 1996—expect accessibility, as they are the first generation of "digital natives". They value efficiency and are emotionally driven when it comes to brand loyalty. 35% of the workforce are Millennials, and that number will grow to 75% by 2025. 1 Gen Z—born in 1997 and later—represent 5% of the workforce, are highly tech savvy, but still defer to their parents for most decisions related to their health care. Where they get their information Members of the Silent and Baby Boomer generations are much more likely to trust their providers exclusively about their personal health. More than any other generation, Boomers value personal relationships with their providers, so coverage with an extensive network of providers is attractive to this generation in particular. Unlike the generations before them, Gen-Xers tend to seek out and rely on multiple sources of information to make decisions about their health care. While Millennials are primarily peer-driven rather than expert-driven when seeking advice, Gen-Xers rely on recommendations from traditional sources like primary care providers (PCPs) and social forums that provide peer recommendations. What this means for your business Offering employees attractive health benefits is essential to attracting and retaining top talent. According to the Harvard Business Review, about 60% of people report that benefits and perks are a major factor in considering whether to accept a job offer. The publication also reports that 80% of employees would choose additional benefits over a pay raise. 2 ¹ GetHapi.org/employer/millennials-health-benefits 2 hbr.org/2017/02/the-most-desirable-employee-benefits S:16.75" T:17"

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