WANTED for the New Healthcare Exchanges: Young People

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The nascent effort now underway to enroll millions of Americans in health insurance plans via recently opened exchanges has been well received among a particular segment of the population: uninsured Americans over the age of 45. Although they represent 43% of all adults online, collectively they accounted for approximately 56% of all visitors to both the federal (healthcare.gov) and various state-run exchanges in November were over 45.

Age of Healthcare Exchange Website Visitors

The data suggest that younger Americans still need more convincing. Adults 25-34 in particular are the biggest holdouts. Although they represent 20.4% of adults online, a considerably smaller percentage visited an exchange website in November. It’s worth noting that while 18-24 year olds are also underrepresented on the exchanges, the Affordable Care Act allows those under 26 to remain on their parents’ plan which effectively eliminates the need for many of them to seek their own coverage. Insurance companies anticipated a healthy mix of both older AND younger Americans enrolling via these exchanges when setting their rates, so attracting the younger demographic who appear still on the sidelines, will be a top priority in the weeks and months ahead.

Age of Healthcare Exchange Website Visitors (All)

About Matt Pace:
As VP of Retail and Consumer Products at Compete, Matt Pace is responsible for leading a team of client services professionals who deliver digital intelligence and insights to clients in the retail and consumer packaged good industries. Before Matt joined the Compete Team he was a CPA and senior auditor with Deloitte & Touche. Follow Matt on Twitter @mattpace.