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The Skinny

*anxiety has entered the chat*

Posted on Saturday, October 16

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Weekly Skinny

Let’s start off on the right foot

“Don’t spend time beating on a wall, hoping to transform it into a door.”–Coco Chanel


 

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The skinny

From delaying divorces to putting off medical procedures, Millennial employees—the largest generation in the workforce—were more likely to put major life decisions on hold as a result of the pandemic, according to a recent survey.

Ok, so?

Well now, with the pandemic…IDK “getting better” kind of… they’re essentially unfreezing everything and moving forward with major life decisions. And they’re expecting employers to support them.  

How?

Give me a B, give me an E, give me an N, you get it.  

Benefits?

Righto. Many Millennials are looking to their employer to help them buy a new home, create a will, and offer financial planning programs.

A will to live?

Yikes. Millennials may be lonely and entering the life stage of sneezing their backs out, but things are looking up for the generation. Now, they’re looking to expand their families (including pets), make big purchases, and finally throw away that sourdough starter.  

What?!

Ok, you’re right, we still need home-baked loaves. And just like those loaves, Millennials interest in annual enrollment continues to rise this year, as electing new benefits to support their life changes has taken on increased importance.

Further reading: More PTO and better benefits: How 8 HR leaders are supporting metal health needs.  

For you: Text messaging employees could be a good thing.

Date with data: 39% of Millennials are newly interested in life insurance.

Double date: 20% of Millennials are newly interested in pet insurance.

Totes quotes: "No matter what stage they’re at in their lives, as Millennials take steps to recalibrate in the coming months, they’re going to require benefits that match their evolving needs.” —Marquis Smallwood, VP of Workforce Engagement at MetLife


 

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The skinny

A new report shows striking class and racial inequities in the area of medical debt, where nearly 80% of medical debt is held by households with zero or negative net worth.

That’s not good.

No. The study noted that racial inequities in the labor market have had a significant impact on the health of minorities, who are more likely to be employed in jobs considered essential.  

So, what’s the issue?

Lack of insurance, under-insurance, and surprise billing are a few issues that contribute to higher debt. But also, many low-income workers have a difficult time paying copays, don’t have access to affordable, in-network care, and may face challenges when it comes to transportation to get care and delaying necessary medical procedures.

What’s the debt look like?

Nearly 1/5 households have medical debt and most estimates put the number between $81 and $140 billion. The average amount of medical debt is $20,500.

That’s insane.

For real. Additionally, the study points the finger of blame at the fee-for-service model common in the US health system. And the general practice of cost-sharing, which pushes more costs onto consumers, regardless of their level of income.

What a mountain.

Everest. The inequality of the health care system cannot be ignored. However, helping employees with benefits choose and use those benefits wisely, will help cut down on unnecessary costs for care. Keeping employees and their families healthy, happy, and out of soul-crushing debt.  

More insights: “Job lock” is a phrase used to describe how workers feel tied to imperfect employment. According to Gallup, 1/6 workers experience job lock due to their health insurance coverage. 

Further reading: Latinx advocates can get companies up to speed on the communities’ distinct challenges.

One more: Employers expect surge in health care costs in 2022.


 

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The skinny

Despite genuinely positive developments in the past few months, a lot of people are still feeling a sense of languish and anxiety.

What gives?

Well, we’ve entered a new phase. Instead of vaxxed and waxed, many therapists are calling this phase vaxxed and anxious. 

**Anxiety has entered the chat**

Don’t worry; there’s a reason (a few actually) for why you may be feeling…a bad vibe, not quite right, blah.

Ok, well don’t leave me hanging.

One, the “normal” you were eager to get back to after vaccinations was, sorry to say, just a fantasy. Same goes for the “2019 you.”  

Jeez.

Sorry pal, that person is gone, changed. Many people weren’t expecting to be so profoundly impacted by this experience. Friendships have changed, priorities shifted. Ever heard the phrase, “You can’t go home again?” 

All I’ve been is home.

Sure. But that’s the point. That was a major change for a lot of folks. Acknowledging that change internally and externally is important to move on and move forward emotionally.  

I can get by, with a little help from my friends.

Think again. Although not discouraging friendships, but that’s another major reason people are feeling disconnected.  

Why?

Think about the potential drama. Friends have been torn asunder by masks/vaccination debates/having COVID vs not having COVID/being careful vs carefree. It’s a minefield. And it’s exhausting. Be patient with yourself and give yourself time to process. Tough love time: If those relationships have become toxic, it might be time to have a friendship breakup.

Got it.

Bravo. And lastly, don’t ignore what your body/mind is trying to tell you. If you once loved cooking during the pandemic and now you can’t go near the stove, that may be a signal of stress or trauma.

Totes quotes: “People think that being grateful for the fact that it's not worse means that they’re supposed to hide those uncomfortable emotions. But the opposite is true. It’s about going all in and actually experiencing the full range of human life rather than just saying, ‘Well, these emotions aren't acceptable.’” –Andrea Bonior, therapist

For you: 10 online support groups for anyone who is struggling right now.  

And another one: Here’s your AE retreat.

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