Helping Your Client Maximize Their Mental Health Benefits

In today's fast-paced and demanding work environment, employee health has become a major focus for businesses, and brokers play an important role in promoting and facilitating these mental health benefits. However, despite the increased focus on mental health in the workplace, many workers are still unaware of the mental health benefits available to them. A 2022 survey found that only 1% of health insurance brokers believe their clients have a good understanding of how mental health is managed in the workplace.

The pandemic has highlighted the importance of mental health coverage in insurance plans, increasing demand for previously unseen benefits for workers. According to the Centers for Disease Control and Prevention, the rate of depression has tripled since the start of the pandemic, affecting one in three Americans. As a result, most employers are increasing their investment in mental health resources. In today's competitive talent landscape, offering comprehensive mental health benefits can help companies attract and retain top talent.

Health savings account

Brokers play an important role in helping clients get the most out of their mental health benefits. For example, it's important to remind clients that Health Savings Accounts (HSAs) can be used to cover a variety of mental health expenses, such as therapy, psychiatric care, substance abuse treatment, and prescription drugs. Employers can encourage employee participation in HSAs through out-of-pocket contributions.

Employee Assistance Program

The Employee Assistance Program (EAP) is a voluntary assistance program designed to help employees overcome personal challenges that affect their work performance, health, and emotional well-being. These services are usually provided by third parties and are generally available at no additional cost to employees. Unfortunately, while 98% of medium and large US companies offer an EHP, many are unaware that this tool is included in their plans. There are also some misconceptions about EHP; For example, they are only available in crisis situations. Employers should inform employees about WHPs, emphasizing their usefulness in non-crisis situations to promote a positive work-life balance. Another common misconception is that information shared as a result of enlisting the help of these programs can be used to harm an employee in the future or be traced back to the company they work for. However, this is not the case, as it is against federal law for the EPA to disclose information shared by employees to an employer. In addition, it is important that brokers discuss with their clients how they interpret WHP employees.

Telemedicine visits

Telehealth visits have become popular during the pandemic and have been shown to be effective in supporting mental health. One of the main benefits of telehealth is convenience. With virtual consultations, employees can access mental health support from anywhere and easily schedule appointments around their busy schedules. Telemedicine services are also available. By reducing the need for in-person visits, telehealth can help lower overall health care costs for employers. For workers, this means lower out-of-pocket costs, making mental health support more accessible and affordable. Adding telemedicine services to a comprehensive mental health facility not only increases access to services, but also demonstrates the employer's commitment to the well-being of its employees, promoting a healthier and more productive environment.

Equal protection of mental and physical health

Brokers can help their clients understand the Paul Wellstone and Pete Comenick Mental Health and Addiction Parity Act, also known as the Parity Act. The Parity Act requires that mental health and substance use disorders receive the same protections as medical and surgical care. These include similar financial conditions and treatment limitations, such as co-payments, co-payments and duration of treatment. The Affordable Care Act requires equity regulation for most employer-sponsored plans, regardless of whether employers purchase commercial insurance or directly fund their health benefits.

Employers may be reluctant to increase investment in mental health; However, neglecting the psychological well-being of employees often comes at a high cost. According to a Gallup poll, nearly 20% of American workers rate their mental health as "fair or poor," and those people are four times more likely to lose their jobs. Workers with untreated mental health anxiety and depression cost $47.6 billion in lost productivity due to an average of 12 unscheduled absences per year among US workers. Strengthening mental health support can reduce sickness absence and increase productivity. Brokers play an important role in motivating employers to invest in these mental health benefits. Ultimately, prioritizing mental health will not only benefit employees, but will positively impact the overall success of the organization.

Bob Love joined BenefitMall in 2018 as president with over 30 years of experience in national markets of all sizes.

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