|One in Three Millennials Has Turned Down a Job in Part Because of Poor Insurance Offerings|
While trendy offerings like in-office massages, fitness classes and extra time off might help lower employee stress levels, the number one stress-causing factor in America is still money.1 The Millennial generation seems particularly inclined to watch their wallets, as Anthem’s survey found they are more likely than the previous generation (29 percent 18 – 34 year-olds vs. 19 percent 35 – 54 year-olds) to have engaged in long-term financial planning over the past year. This fact underscores that disability insurance, which protects a person’s income when they are unable to work due to injury or illness, should be a critical part of a benefits package and of significant importance to younger workers. While a free massage at work might get the knots out of your back, disability insurance can better position you for long-term financial health.
“We understand that money can be a huge cause of stress for many people
no matter their age, and disability insurance is a way to alleviate that
worry and prevent many of the other health problems high stress can
For many living paycheck to paycheck, an injury or illness that leaves them unable to work could have innumerable negative outcomes, not the least of which is moving back in with mom and dad. Of survey respondents who did not have disability insurance, many reported lacking coverage because either their employer did not offer it (53 percent) or because it was too expensive (32 percent). What they may not know is that for less than the price of one yoga class, workers of all ages can buy disability insurance benefits that can protect against loss of income.2
For employers, integrating disability and medical benefits with one
insurance company can also help save money by helping employees get back
to work sooner and by reducing benefits administration costs. More than
half of employers using this integrated benefits approach saw medical
claims-based savings, according to an
“Disability benefits protect financial wellness, but they are also an important part of overall health and wellbeing,” said Wozny. “Anthem recognizes that physical, emotional and financial health is interconnected, and by treating the whole patient, healthcare professionals of all specialties can help patients get better faster and also save money in the process.”
This report presents the findings of an online omnibus survey using the
field services of
Anthem is working to transform health care with trusted and caring solutions. Our health plan companies deliver quality products and services that give their members access to the care they need. With over 74 million people served by its affiliated companies, including more than 40 million within its family of health plans, Anthem is one of the nation’s leading health benefits companies. For more information about Anthem’s family of companies, please visit www.antheminc.com/companies.
2 As compared with average monthly disability premiums.
Anthem, Inc. Media Contact