A substantial proportion of individuals in the United States struggle with understanding the constantly evolving healthcare landscape. In fact, according to the U.S. Department of Health & Human Services, 77% of adults have basic or below basic health literacy, with only 12% of adults having proficient healthcare literacy. Healthcare literacy spans the scope of not only understanding healthcare but also an understanding of medical terms, how the body works, how to make healthcare decisions and more.
As more and more employers are working with millennial workforces, it’s important for employers to understand their role in helping employees understand their benefit packages being offered so employees are armed with all the information needed to make the best decision for them and their families. According to Transamerica Center for Health Studies’ (TCHS) executive director Hector De La Torre, many millennials don’t understand how health insurance works. A recent TCHS survey found that feeling uninformed about options is the biggest barrier to health insurance for uninsured Millennials, contributing to 11 percent going without.
InfinityHR developed a Healthcare Glossary for employers to use in their internal communications, on their employee portals and during open enrollment time to help bridge the gap between proficiency around making informed health insurance decisions.