GoHealth, Inc. Study: Gen X & Millennials Take on the Role of Caregiver

by Jason Yoo | Oct 30, 2020

GoHealth commissioned 2,000 online interviews to explore the implications and burden Gen X and Millennials face when supporting their aging parents.   As the Baby Boomer generation continues to age, more Millennials and Gen X’ers are taking an important role in their parents’ healthcare decisions.

For purposes of this study, GoHealth defined the cohorts as:

·        Millennials: Age 24 to 39 who have a relationship with a living parent(s)

·        Gen X: Age 40 to 55 who have a relationship with a living parent(s)

·        Demographic breakout:

·        Gender: Male; Female

·        Income: Low (<$40K); Middle ($40K – $119.99K); High (≥$120K)

·        Region: Northeast; Midwest; West; South

Key highlights of GoHealth’s key survey findings:

·        28% of Millennials and 39% of Gen X’ers help manage their parent(s) healthcare.

·        Between both Millennials and Gen X’ers, 83% say the health and well-being of their parent(s) is a priority in their life. The top common ways both generations manage their parents’ healthcare include selecting doctors, scheduling appointments, providing transportation, attending doctor visits, and explaining insurance claims.

·        1 in 3 Millennials and Gen X’ers are currently assisting their parent(s) financially

Read the full report here.

https://www.csgactuarial.com/2020/10/gohealth-inc-study-gen-x-millennials-take-on-the-role-of-caregiver/?utm_term=Read%20Article&utm_campaign=Industry%20Updates%3A%20What%20We%27re%20Reading&utm_content=email&utm_source=Act-On+Software&utm_medium=email