GetInsured Survey Reveals Many Millennials Lack Critical Information on Health Insurance

PR Newswire

MOUNTAIN VIEW, Calif., Sept. 16, 2020 /PRNewswire/ -- A new poll by GetInsured, a health insurance marketplace platform provider, reveals that Millennials lack some critical information when it comes to purchasing health insurance, and uncovers the need for better education. According to GetInsured's 2020 Millennial Health Insurance Survey, more than half of uninsured Millennials (53 percent) are not aware that they may qualify for tax credits to help lower the cost of health insurance premiums.

As states are gearing up for the 2021 Open Enrollment Period this November, people across the country appear to be suffering the consequences of reduced access to information on tax credits and affordability options, and have a lack of awareness when it comes to finding coverage. One-third (34 percent) of uninsured Millennials surveyed did not even know that they can obtain health insurance through ACA marketplaces. Meanwhile, of those who were aware of the tax credits, 30 percent did not apply for health insurance through an ACA marketplace because doing so was too difficult.

"The overall lack of knowledge among Millennials on how to obtain an affordable, quality healthcare plan is striking," said Chini Krishnan, co-founder and CEO of GetInsured. "However, states that have built or transitioned to their own exchanges, such as Nevada and California, have been able to conduct targeted marketing campaigns to engage and educate their uninsured populations. They have the flexibility to make use of local data and marketing investments that drive these important messages, and are free from the budgetary constraints of the federal government."

According to additional findings from GetInsured's research, nearly one-third (29 percent) of Millennials surveyed are presently uninsured. This has led nearly 80 percent of them to delay seeing a doctor. Of the Millennials who are currently uninsured, 40 percent do not have health insurance because it is perceived as too expensive.

"States operating on healthcare.gov have an opportunity to take a look at their public outreach capabilities and consider how their marketing efforts – and subsequent enrollments – could be improved to reach the maximum number of people possible," said Paul Neutz, SVP Business Development of GetInsured.

The 2020 Millennial Health Insurance Survey by GetInsured was conducted online via Survey Monkey in August 2020 among more than 1,600 adults aged 24-44 who live across the United States. For more information, visit company.getinsured.com.

About GetInsured
Founded in 2005, GetInsured is the leading provider of state-based exchange platforms. The company has disrupted the public healthcare IT sector with its SaaS-based technology that replaces bespoke government systems, saving states money and increasing operational efficiency. GetInsured's award-winning enrollment tools also serve brokers, insurers, and consumers. In addition to eligibility determination, plan selection, and enrollment technology for state agencies, the company delivers innovative agent marketing and call center tools and services. GetInsured has the largest state-based marketplace footprint, and operates the technology for five state health exchanges, including Nevada, California, Idaho, Minnesota, and Washington State. The company is currently launching exchanges in Pennsylvania and New Jersey, which will bring the total number of individual enrollments nationwide to 2.5 million for the 2021 plan year. To learn more visit company.getinsured.com.