According to a new Moody’s Analytics and the Blue Cross Blue Shield Association report, millennials’ health is deteriorating significantly faster than that of older generations, which could result in dire economic consequences, writes Sarah Gantz for The Philadelphia Inquirer.
The report shows just how badly the last recession affected the health of millennials’.
“This is going to be a very negative, self-reinforcing cycle, and we need to break it,” said Mark Zandi, a chief economist for Moody’s Analytics in West Chester.
Millennials, who currently range from 23 to 38 years of age, suffer from an increased rate of physical ailments, including hypertension and high cholesterol. They also have higher rates of behavioral health problems like depression.
As a result, millennials could have a shorter life expectancy and 33 percent higher health spending than the previous generation. The inability to work could increase unemployment rates and reduce work productivity.
This is why Zandi urged employers, health system administrators, and insurance executives to work together to improve care.
“It’s not a crisis level, but if the trend continues, we will be calling this a crisis,” he said. “Something needs to change.”
Read more about the issue at The Philadelphia Inquirer here.