Gen Xers and Millennials: We'll Pay More to Save Medicare



Millennials and Gen Xers say they’re entitled to healthcare coverage in retirement and are willing to accept higher payroll taxes to preserve Medicare, according to eHealth’s latest original research. 

In a May 2024 survey of more than 1,000 Gen Xers and Millennials born between 1965 and 1996, eHealth found: 

  • More than nine in 10 (94%) say they are entitled to healthcare coverage in retirement. 
  • More than eight in ten (84%) are willing to pay higher payroll taxes to ensure Medicare’s sustainability.
  • Nearly two thirds (65%) of those who know what Medicare is worry that it won’t be there for them. 

 eHealth CEO Fran Soistman had this to say:  

“Concern about Medicare’s future is no longer unique to current beneficiaries and older Americans. Our report shows that younger Americans are worried about their access to quality, affordable healthcare as they age.” 

“In fact,” continued Mr. Soistman, “most Millennials and Gen Xers say they are willing to pay more now if it means preserving this critical benefit for the future, and Medicare is one of their top-three concerns in the upcoming election.” 

Additional highlights: 

  • 78% of Millennials and Gen Xers say that Medicare is among their top-three voting issues. 
  • 78% say that Baby Boomers and earlier generations were fiscally irresponsible and are leaving them to pay the bill. 
  • Despite their concerns, three quarters rate the overall US healthcare system as “good” or “excellent.” 

 Read the full report.