Nov 7, 2019

Increasing millennial health problems set up future economic challenges

Illustration: Rebecca Zisser/Axios

Millennials' health problems are on the rise, with future adverse consequences to both their own finances as well as the U.S. economy, according to a new report by the Blue Cross Blue Shield Association.

What they found: As millennials age, their health is declining faster than Generation X, and they're increasingly suffering from conditions like hypertension, high cholesterol, depression and hyperactivity.

If the pattern doesn't change, millennials' mortality rate could climb by more than 40% compared to Gen-Xers when they were the same age.
Under the worst-case scenario, their health care costs will be up to 33% higher than Gen-Xers' at the same age.
Poor health could cost millennials more than $4,500 in annual per capita income.

The big picture: The biggest changes are in millennials' behavioral health. In 2017, accidental deaths, including overdoses and suicides, caused 60% of deaths among 25- to 29-year-olds, according to the CDC.

"Millennial health patterns can cause declining millennial economic outcomes that in turn can cause further declines in millennial health. This represents a potentially vicious cycle resulting in even higher prevalence of depression and other behavioral health conditions over time," the report concludes.

My thought bubble: Our health spending is already on an unsustainable path. This absolutely does not help.

Go deeper:

Go deeper

Jessie Li

The millennial retirement savers

Illustration: Eniola Odetunde/Axios

In an age where “ok boomer” is a rallying cry for young people fed up with older people who don’t understand them, stereotypes abound of millennials spending money poorly.

The big picture: Labor economist Teresa Ghilarducci tells Axios that millennials don't behave differently than prior generations — they're just thrust into different circumstances. They’re less likely to be offered pensions or qualify for employer-sponsored retirement plans, so they start saving later in life and accumulate less compared to their predecessors. Two-thirds of millennials have no retirement savings at all.

Go deeperNov 16, 2019

Caitlin Owens

Mental health coverage is getting worse

Data: Mental Health Treatment and Research Institute; Chart: Axios Visuals

As suicide and overdose rates have increased, mental health and substance abuse insurance coverage has gotten worse, according to a new Milliman report commissioned by the Mental Health Treatment and Research Institute.

Why it matters: Behavioral health treatment often isn't covered by insurance, and it's often unaffordable — including for patients for whom treatment is a matter of life and death.

Go deeperNov 21, 2019 - Health

Caitlin Owens

Disparities persist in mental health coverage

Privately insured people suffering from drug and alcohol addiction or mental health conditions pay more out-of-pocket for care and are more likely to see out-of-network providers than people with chronic physical health conditions, according to a new study in JAMA Network Open.

Between the lines: These costs prevent people from receiving care. The study used data from 2012–2017, a time frame during which the opioid epidemic was ravaging communities across the country.

Go deeperNov 7, 2019