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Thomson
Reuters study finds Baby Boomers and
Generation X face Healthcare cost
hurdles…Survey measures impact of Recession
on Healthcare Use by Demographic Segment
ANN ARBOR, Mich.,
June 22 /PRNewswire/ -- Twenty-five percent of Americans say they
had difficulty paying for healthcare in the
past 12 months, with the Baby Boomer and
Generation X age groups leading the way,
according to a study published today by
Thomson Reuters.
The study, which tracks the impact of the
recession on consumers' healthcare
behaviors, also found that Generation X and
Baby Boomers are 3.5 times more likely to
postpone care due to the cost than are older
Americans.
The analysis is based on a telephone survey
of 3,007 households conducted from
April 21 to May 3
-- a segment of the Thomson Reuters PULSE
Healthcare Survey, the nation's largest and
longest running privately funded household
survey on health behavior and utilization.
Responses covering a three-year period were
then analyzed to chart long-term trends in
consumer healthcare utilization among
different demographic groups.
Following are the key findings of the
analysis:
Difficulty Paying for Healthcare Persists:
One in four Americans said they had
difficulty paying for care in the previous
12 months -- similar to the findings from a
wave of the survey conducted in March. Those
in the Baby Boomer and Generation X age
groups are more likely than Millennials and
the Silent Generation to say they are
experiencing difficulty paying for care.
High Unemployment Rears Its Head: The
percentage of households that reported
losing a job in the last three months
increased to 13.5 percent in April, up from
11.4 percent in March. Unemployment is the
single strongest driver of payment
difficulty among healthcare consumers, the
study found.
Gen X and Boomers 3.5 Times More Likely to
Postpone Care Due to Cost: Age impacts
deferral of healthcare more than any other
demographic factor, including household
income, employment, and primary insurance.
Generation X and Baby Boomers are 3.5 times
more likely to postpone care due to cost
than the Silent Generation.
Negative Expectations for Future Care: When
asked about their expectations for the next
three months, 20 percent of consumers said
they expect to have difficulty paying for
health insurance or healthcare services.
Baby Boomers are 4.5 times more likely than
the Silent Generation to say they expect to
have difficulty paying for care in the next
three months.
Older Americans Least Affected by Economy
When It Comes to Healthcare: Older
Americans, who have the access to Medicare,
are less affected by the economic downturn
when it comes to healthcare behavior.
For the study, the Millennial Generation was
defined as being born after 1984, Generation
X was born between 1965 and 1984, the Baby
Boom Generation was born between 1946 and
1964, and the Silent Generation was born
before 1946.
"It is important for healthcare providers,
employers, and policy makers to consider how
the economy and healthcare policies affect
demographic segments differently," said
Gary Pickens, chief research
officer for the Healthcare and Science
business of Thomson Reuters and lead author
of the study.
"Clearly, the age groups that represent the
largest slice of the employer-sponsored
insurance landscape -- Baby Boomers and
Generation X -- are most susceptible to the
ebbs and flows of the economy."
The study is part of a series of research
papers assessing the impact of the current
recession on the healthcare system. Future
reports will track hospital financial
performance, healthcare outcomes, and
additional consumer trends.
About Thomson Reuters
The Healthcare business of Thomson Reuters
produces insights, information, benchmarks
and analysis that enable organizations to
manage costs, improve performance and
enhance the quality of healthcare. Thomson
Reuters is the world's leading source of
intelligent information for businesses and
professionals. We combine industry expertise
with innovative technology to deliver
critical information to leading decision
makers in the financial, legal, tax and
accounting, scientific, healthcare and media
markets, powered by the world's most trusted
news organization. With headquarters in
New York
and major operations in London
and Eagan, Minnesota,
Thomson Reuters employs more than 50,000
people in 93 countries. Thomson Reuters
shares are listed on the New York Stock
Exchange (NYSE:
TRI);
Toronto Stock Exchange (TSX: TRI); London
Stock Exchange (LSE: TRIL); and Nasdaq (Nasdaq:
TRIN).
For more information, go to
www.thomsonreuters.com.
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