NewHavenBIZ

"Benefits can be a key differentiator when deciding where to work—sometimes even more than pay." How they prefer to receive care Because the Silent and Baby Boomer generations value the opinions of their providers, they look to them for advice and care more than other generations do. Studies show that 39% of Baby Boomers go to the doctor between 3 and 6 times per year, and another 22% go more than 7 times annually. Gen-Xers also visit the doctor frequently—not just for themselves, but as caretakers for both their parents and children. Millennials, on the other hand, are currently the lowest utilizers of traditional health care in today's workforce, and only 58% say they trust their PCPs. Along with their Gen Z counterparts, they are more likely to take a holistic approach to their health that focuses on diet, and incorporates technology-driven support for well-being through apps focused on meditation and sleep quality, and using wearables. In fact, 40% of Millennials report that telemedicine is an "extremely or very important option" when it comes to their care. What this means for your business Offer more than one health plan with a range of traditional and alternative benefits. How they spend their time and money Baby Boomers value their time and money and put convenience at a premium. Gen-Xers operate as the chief decision makers in their households and are also responsible for the health needs of their aging parents. As a result, convenience and ease are extremely valuable. They shop for health care the same way they shop for retail goods, and have no time to waste. Personalized offerings are attractive to Gen-Xers with this detail in mind. Millennials also expect ease when it comes to making health care decisions, and appreciate comparison tools that they can use to make informed choices. When given a choice of health plans, Millennials are most likely to enroll in a high-deductible health plan (HDHP), according to a 2017 survey conducted by Benefitfocus. What this means for your business Offer a range of health plans with flexible spending options that cater to the needs of all generations— and consider including a health savings account (HSA) (possibly even partially funded by their employer) when offering your employees the option of an HDHP. What they all have in common Whether they are a part of the Silent Generation or Gen Z, employees in today's workforce want to feel informed and confident about their health care decisions. Accessible health care for a good value is a priority for workers of every generation. And Connecticut is already making strides to keep up with the changing priorities and preferences of this diverse workforce. When it comes time to choose health care coverage for your workforce, you can feel confident selecting health care that offers your employees options, and gives you ample resources to help educate them on how to make the most of the plans you provide. harvardpilgrim.org/employer/our-plans GET MORE RESOURCES Talk to your broker about assessing your workforce and designing the right health care plan for your employees, and see our latest plans, strategically designed to support every generation: S:16.75" S:9.625" T:17" T:9.875"

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