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Young adults With more millennials becoming parents, there is a greater concern about the gaps they have in medical coverage. (Photo: Thinkstock)

How many times have you heard the term “millennial” in the last five years? Probably more than you can count. Often, millennials are the topic of conversation because of their purchasing power. As the largest living generation by population size (79.8 million in 2016), millennials will continue to be major influencers in the marketplace, but what they’re purchasing may soon change.

Often thought of as the youngest generation in the workplace, millennials were targeted in the past with retirement planning and the idea to start saving early. However, many millennials have grown up and are now becoming parents, which means more products are applicable for them. In fact, millennial women accounted for about 8 in 10 (82 percent) U.S. births in 2015.

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