Millennials' declining health could sicken U.S. economy
Millennials are in bad shape, and their poor physical and mental health carries serious adverse economic consequences, according to a new report.
More millennials — those born between 1981 and 1996 — suffer from conditions including hypertension, high cholesterol, depression and hyperactivity at a higher rate than Gen-Xers did at the same point in their lives, Moody's Analytics found in a report drawing on data from Blue Cross Blue Shield. As a result, the economic research firm estimates that, by 2027, health costs for young adults could run as much as 33% higher than they were for Gen-Xers at the same age.
Rising health care costs means a greater financial load on employers and workers, as well as the federal and state governments.
"Declining millennial health is causing health care expenses to increase, and that's a financial burden, certainly on millennials but also on the broader economy," said Mark Zandi, chief economist at Moody's.
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