Social support becomes lifeline for health amid financial strain

Study reveals health and vitality is closely linked to mental, social, and physical health.
Financial well-being remains the weakest aspect of well-being, with finance-related concerns as top stressors
High vitality leads to better health management and stronger support networks

HONG KONG and ANTWERP, Belgium, Sept. 30, 2024 /PRNewswire/ -- Heightened financial stress is having a detrimental effect on overall health and well-being, with more people turning to social support systems for help, according to new research from Cigna Healthcare, International Health.

The Cigna Healthcare International Health Study 2024, released today with survey results from more than 10,000 respondents in 11 markets, reveals that globally, overall health and vitality has dipped while financial well-being continues to be the weakest aspect of well-being. Stress levels have decreased in most markets, but financial concerns remain persistent – with cost of living and personal finance being the most significant sources of stress globally.

The report highlights key vitality differences across demographics. Men report higher vitality than women, whose scores have significantly declined since 2023. Among generations, baby boomers have the highest vitality, followed by millennials, and Gen Z, while Gen X reports the lowest score. Millennials also experienced a notable decline in vitality compared to last year.

The findings underscore how low vitality is often rooted in a lack of financial resources, which hinders people's ability to address their health issues. For those with low vitality, this is also compounded by a lack of essential support networks, which can further exacerbate their health challenges. Conversely, high vitality individuals often feel more empowered and capable of seeking treatment for health issues when needed.

Jason Sadler, President, International Health, Cigna Healthcare, speaks to the urgency of addressing vitality gaps: "While the downward trend of stress is a positive sign, we continue to see harmful impacts, such as the impact on sleep and the correlation of low vitality with chronic conditions. People with higher vitality are better equipped to manage their health and remain optimistic. It is critical to find ways to empower individuals to take control of their well-being."

Key findings include:

High social well-being reflects desire for connection: Social well-being has been on an upward trend since 2022, with 45% of respondents rating their social well-being as "excellent" or "very good" this year. Two in three respondents (66%) expressed that their family has usually supported them through life, while around half (52%) said they frequently talk to their family or partner about how they feel.

Physical, social, and mental health are key to vitality: Poor mental health, including high stress, and poor physical health, are key factors associated with lower vitality levels and should therefore be primary focuses for action.

Financial stress has deep impacts on well-being: Financial health continues to be the weakest aspect of well-being, with 36% of respondents rating their financial health as "fair" or "poor." In regions like the US and Middle East, the cost of living and healthcare expenses are preventing many people from accessing the care they need.

Stress shows improvement, but challenges remain: While stress levels have decreased in most markets, notably in Hong Kong and parts of Europe, 50% of respondents still report disrupted sleep due to stress, highlighting ongoing concerns.

High vitality individuals better manage their health: Those with higher vitality are more confident in managing their health, with 90% expressing optimism, compared to just 19% of low vitality individuals.
Flexible work lifts organizational well-being: Hybrid workers are more likely to be satisfied with their job than those working fully in-person (59% vs 55%), be enthusiastic about their job (70% vs 64%), and are less likely to search for a new job (36% vs 40%).

Jason Sadler pointed to the critical role of social systems in times of crisis: "Our findings reveal that while financial strain is impacting global vitality, social support and connections are providing a lifeline. Communities need to allocate the right resources, such as reliable health insurance and community support systems, while embracing comprehensive strategies that address the multiple determinants of vitality to reverse its decline."

"In the workplace, well-being-oriented organizational cultures and targeted support for vulnerable groups can make for a healthier and more productive workforce."

The full findings of the report are available here.

About the Cigna Healthcare International Health Study

Cigna Healthcare surveyed more than 10,000 respondents in 11 markets – the US, UK, Spain, Netherlands, Belgium, Switzerland, Kenya, UAE, Saudi Arabia, Singapore, and the Hong Kong SAR from May 9-27, 2024, in collaboration with YouGov – a global public opinion and data company. The nationally representative online survey assessed the health, vitality and well-being of more than 1,000 adults (aged 18 years and older) in each of these markets – the US, UK, Spain, UAE, Singapore and the Hong Kong SAR, and more than 500 adults per market in Kenya, Belgium, the Netherlands, Saudi Arabia and Switzerland.

The Evernorth Vitality Index© (EVI) has been developed in partnership with leading clinical psychologist and author Dr. Richard Ryan and it gives a comprehensive measure of people's capacity to pursue life with health, strength, and energy. This is closely aligned with our mission to improve the health and vitality of those we serve around the world. We asked a series of questions to gauge respondents' sense of social, occupational, financial, intellectual, physical, spiritual/purpose, emotional, and environmental well-being.

Respondents were also asked to rate their well-being across seven pillars: family, financial, mental, physical, social, spiritual, work well-being, and overall well-being, with ratings ranging from "poor", "fair", and "good" to "very good" and "excellent".

About Cigna Healthcare

Cigna Healthcare is a health benefits provider that advocates for better health through every stage of life. We guide our customers through the health care system, empowering them with the information and insight they need to make the best choices for improving their health and vitality. Products and services are provided exclusively by or through operating subsidiaries of The Cigna Group (NYSE:CI), including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth Health companies or their affiliates and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and others.

Learn more at www.cignahealthcare.com

Logo - https://mma.prnewswire.com/media/2518980/cignahlthcr_logo_color_pos_rgb_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/social-support-becomes-lifeline-for-health-amid-financial-strain-302262446.html