A US multigenerational survey on life during COVID-19 has revealed that Millennials have been financially impacted the most by the pandemic. It’s also the generation that most needs a “digital detox”. The survey, carried out by healthinsurance.com, polled Millennials, Gen Xers and Baby Boomers about their perspectives on everything from healthcare and the economy to technology and social media during the pandemic.
The research revealed that 51% of Americans have experienced financial insecurity as a result of COVID-19. Millennials were the most impacted with 6 in 10 saying they have experienced financial insecurity during the Coronavirus pandemic. Approximately 52% of Millennials said they’ve also had to put off medical care because of costs. Baby Boomers were the least impacted generation with only 37% reporting financial hardships during COVID-19.
Across the three generations, 3 in 10 respondents said they have or have known someone who has lost their health insurance during the COVID-19 pandemic, nearly 40% of Millennials were impacted by this. And when asked broadly about the US healthcare system, 82% of all surveyed said “it’s broken”.
DIGITAL DEPENDENCE
Approximately, 50% have video chatted more with their parents and/or kids since the COVID-19 pandemic began, with Millennials reporting the biggest increase. In fact, 71% of all respondents said they find themselves on the computer or phone more often since the pandemic started, which may be why 39% say they need a “digital detox”. The number of Millennials needing a digital detox is higher (around 51%) – a multigenerational divide that is “very telling”, points out the report.
Facebook is still King with 60% of all generations saying they use Facebook the most, followed by Instagram (19%) and Twitter (11%). Around 75% of Baby Boomers use Facebook the most, compared to 45% of Millennials. Instagram comes in second amongst Millennials, with 27% saying it’s their preferred social media platform.
ONLINE ACTIVITY
Gen Xers, Millennials and Baby Boomers have all been busy shopping online and hitting the checkout button. Around 72% report shopping more online during the Coronavirus pandemic and 77% said they have made an effort to shop with small businesses during the pandemic. However, the overall economic outlook is bleak. Approximately 47% don’t believe that small businesses will recover after the COVID-19 pandemic, and an additional two-thirds think it will take two or more years for the US economy to recover.
While 87% of people are comfortable having their temperature checked before walking into an establishment, only 4% feel it’s an effective way to prevent the spread of COVID-19. Overall, 4 in 10 think masks are the most effective way to prevent the spread of the disease, but Millennials and Gen Xers think that social distancing and lockdowns are almost equally as effective. But the lockdowns are just a “bummer to the Baby Boomers”, notes the survey, with only 12% believing that they are effective.
BACK TO SCHOOL CONCERNS
All generations are worried about kids going back to school with 6 in 10 thinking students should not go back to classrooms or to college campuses this autumn. When asked about getting vaccinated, 69% say they will. That number was slightly higher for Baby Boomers, with 75% claiming that they will get the vaccine when one becomes available.
Gen Xers are embracing telemedicine the most, with 52% saying they’ve used telemedicine services during the pandemic. Meanwhile, 46% of Baby Boomers are trying virtual visits during COVID-19. Overall, 60% say they are more comfortable using telemedicine now than they were six months ago. More than half of respondents said that their doctor has encouraged a telemedicine visit over an in-office visit, and 54% say they plan on using telemedicine once the pandemic is over.
Click here to download the complete multigenerational survey results.
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