New Survey Shows Young People Increasingly Living on The Financial Edge; New Online...

New Survey Shows Young People Increasingly Living on The Financial Edge; New
Online Organization Aims to Help 18-34 Year-Olds Navigate Money, Work, and
Health Challenges

WASHINGTON, July 22 /PRNewswire-USNewswire/ -- Qvisory, a new online advocacy
organization aimed at helping young adults with their money, work, and health
concerns today released a set of survey findings via an online forum,
illustrating the severe impact of the current economic crisis on 18 to 34
year-olds.

The report, "Young People: Living on the Edge," written by Anna Greenberg of
Greenberg Quinlan Rosner Research, sheds light on the intense pressures young
people face making ends meet in the current economic downturn, and how they
believe national leaders in Washington, DC are failing to represent their
interests at a time when they desperately need assistance navigating rough
economic currents.

Qvisory was founded with support from SEIU, the Rockefeller Foundation, and
other donors. Originally conceived by SEIU President Andy Stern as a way to
help young people address the types of financial challenges identified in this
survey, Qvisory provides services to and advocacy for this generation on its
website, Qvisory.org. At today's forum, Qvisory also announced the
availability of health insurance plans selected specifically for this age
group, available for purchase to all visitors to the Qvisory website.

The June 2008 Greenberg survey polled both parents and young adults to probe
attitudes towards economic security. The survey shows that young Americans are
facing tremendous and growing financial stress:

-- Financial concerns top the list of problems facing young adults in their
lives today, at 55 percent, an 11-point jump over the past year.

-- Young adults face a growing generational credit crisis:

-- Three out of four young people report having gone deeper in debt over the
past year.
-- More than half of young adults say they are only paying their minimum
monthly amount on their credit card.
-- Nearly one in five (19%) report having had their phone, cable, or utilities
cut off, and more than one in seven (15%) have faced repossession or had their
credit card cancelled due to non-payment.
-- One in three young people who owe money on a credit card owe more than
$10,000 overall.
-- 28% of all young adults are carrying medical debt.
-- More than half of all young people have gone without health insurance at
some point in the past five years - including 75% of those who are now
carrying medical debt.
-- Only 32% of young people think the leadership in Washington, DC represents
their interests well, in contrast to their views about how well corporations
(79%), veterans (52%), and seniors (53%) are represented.
-- Interestingly, parents of young adults are far less concerned about the
immediate financial strains facing their children, and more concerned about
their health and long term happiness.
-- Compared to their adult children, parents are twice as likely to worry
about their kids being able to afford health insurance, but only about a third
as likely to be concerned about gas prices and their kids' ability to pay
their bills in today's economy.
-- The number of parents loaning their children money has almost doubled over
the last year.

"This is not our fathers' or grandfathers' economy," said Andy Stern,
president of SEIU. "No generation of people has ever witnessed so much change
in a single lifetime. We've gone from an economy that's 9-to-5 to 24/7, one
that's no longer national, but international. The old rules don't apply
anymore, and we are at a moment when we need to make change. How we fare as a
nation in the 21st century global economy will largely depend on how and
whether younger generations catch their economic footing. Qvisory's goal is
to help them do just that."

Eileen V. Quigley, Qvisory's Executive Director, added: "As we see in this
survey, there is a need for an organization like Qvisory that will help young
people navigate their money, work, and health needs, and make informed choices
that will meet their interests, not the interests of corporate marketers. We
aim to provide 18 to 34 year-olds the best, most affordable services, and the
voice in Washington that they lack."

Qvisory is also making it easier for young people across the country to
purchase health insurance online through a partnership with Aetna and eHealth,
Inc. Individuals looking for health insurance can now go online at
http://www.qvisory.org/health and find coverage options pre-screened by
Qvisory that meet the needs of individuals in this age group.

Qvisory and Aetna have been working together to develop plans specifically
designed to meet the health care needs of young adults, and these plans will
be available in the near future.

"Young adults are the most likely age group to be uninsured, with nearly 20
million individuals between the ages of 18 and 34 falling into this category,"
said Ron Williams, Chairman and CEO of Aetna. "We feel like by working with
Qvisory and Andy Stern on this issue, we can help make quality, affordable
health insurance options available to a significant number of young adults,
while also educating them on the value and importance of having health
benefits."

In addition to providing affordable health care coverage, Qvisory is focused
on helping this generation meet its goals for economic security by providing
its members with a financial education and counseling service through BALANCE.
More information about this service can be found at
http://qvisory.org/membership/balance.

ABOUT QVISORY

Qvisory (www.qvisory.org) is a new nonprofit online advocacy and service
organization that supports the health, financial well-being, and career goals
of young adults from 18 to 34 years old. Our mission is to help this
generation build their future and gain more control over their lives. We do
this by providing the information, tools, and services young adults need to
make sense of the challenges they face. We are also looking out for this
generation in Washington and will fight for policies to protect their best
interests.

We invite you to explore our community: learn and comment on our blog
(http://qvisory.org/blog), participate in our advocacy actions
(http://qvisory.org/takeaction), make or join a pact
(http://qvisory.org/pacts), explore our services
(http://qvisory.org/membership), and become a member.

Qvisory is based in Seattle, Washington. For additional information, please
read our FAQs (http://qvisory.org/qvisory/faq) or write us at
contact@qvisory.org.

SOURCE Qvisory

Eric London, Qvisory, +1-202-986-9805, press@qvisory.org