Highlights
- Staying updated on mental health insurance trends can help you design employee health benefits that address your employees’ changing needs.
- New mental health trends for 2024 include a focus on holistic care, technology-assisted therapies, and non-traditional approaches for flexible treatment.
- Trends also include services like telehealth and culturally competent care, which broaden access to employees and get them specialized services based on their background, orientation, or language needs.
- With Roundstone’s group captive insurance as part of a self-funded model, you can include coverage for mental health services to boost your employees’ quality of life and reduce healthcare costs for everyone.
Mental health is an issue that affects everyone in the workplace, impacting employees, management teams, and company leaders. Around the U.S., people are struggling with issues like anxiety, depression, and substance use, with about 23% of adults reporting a mental illness in 2022.
Untreated mental health issues have a big impact on employers — $60,000 annually for one organization and $105 billion nationwide, according to the Center for Prevention and Health Services.
Mental Health Awareness Month in May is the perfect time to focus on developing an employer mental health benefits plan that provides well-rounded coverage to help address these issues. To do this, you need to understand the newest mental health insurance trends and make changes to your self-funded policy that reflect these growing needs.
The beauty of a self-funded plan is you can flexibly design your employee health benefits to better address the unique needs of your employees, and that includes mental health. Consider the following mental health coverage trends and how you can engage new, more accessible services or coverages to help your employees access care and boost their well-being, all while potentially lowering the overall cost of your benefits.
Holistic Approach to Mental and Physical Health
Holistic health is a trend for 2024, reflecting the shift from a symptom-based treatment approach to a more well-rounded, whole-person model. Healthcare professionals are now focusing on the connection between mental and physical health and how addressing them together can have a beneficial impact on patients’ overall well-being.
For example, when managing chronic pain, an effective treatment plan often combines physical therapy to tackle pain and counseling to manage the emotional toll it takes. This holistic approach ensures the whole person is cared for, not just the symptoms, leading to more successful health outcomes and potentially lowering costs for the company health plan.
Impact of Mental Health on Youth and Families
One concerning trend is the impact of mental health on youth and families. A 2022 national survey found that 2.1 million adolescents (12- to 17-year-olds) had a major depressive episode in the last year, only 8.7% of whom sought treatment. 13.4% of this same age group reported thoughts of suicide.
Depressive episodes in the family can impact employees’ ability and motivation to work. Mental health crises can lead to low morale, costing American businesses up to $550 billion annually due to lost productivity, including absenteeism, illness, and other problems, according to Gallup.
Employers are stepping up support for working parents by providing specialized care for their children, such as access to child psychologists, wellness programs, and counseling services. They also offer and implement family-friendly policies like flexible work hours and remote work options, allowing parents time to get their kids the help they need.
This helps alleviate stress, improve family dynamics, and create an environment where the employee feels supported at work.
Global Mental Health Initiatives
As mental health issues affect a growing number of people worldwide, employers are prioritizing culturally relevant and wide-reaching mental health strategies. The future of mental health insurance includes the use of specialized services like Employee Assistance Programs (EAPs).
EAPs are support systems offered by employers as part of a benefits plan. They help employees deal with personal or work-related problems that might impact their job performance, health, and well-being. These programs provide confidential counseling, crisis intervention, and related services such as stress management workshops and financial or legal consultation.
For instance, an EAP might offer seminars on work-life balance or provide referrals to childcare services to help reduce the mental load on employees. These resources can help boost employees’ quality of life, so they feel more confident, supported, and productive. This can substantially improve productivity and satisfaction in the workplace.
Role of Technology and Digital Solutions
Telehealth, digital therapeutics, and generative AI are streamlining mental health care. These technologies help employers address mental health access disparities, making behavioral health services more accessible and affordable as part of their insurance plans.
Here’s how they work.
- Telehealth platforms. Telehealth allows employees to consult mental health professionals online or through secure apps, making it easier for those in remote or underserved areas to receive care without traveling, taking time off work, or disrupting their daily routines.
- Digital therapeutics (DTx). This modality uses online programs that deliver evidence-based therapies to help manage mental health issues like anxiety or depression. Many of these apps have FDA approval for treating various conditions.
- Generative AI. This technology uses AI-based platforms to help personalize mental health support to fit individual needs. For instance, AI may be used to help diagnose DSM-V conditions or choose or track medication efficacy for certain disorders.
By incorporating teletherapy insurance coverage and other services such as digital therapeutics (DTx) into an employee health benefits program, employers can meet the growing demand for mental health services and support a healthier, more productive workforce.
Demand for Innovative Care Models in Employee Health Benefits
In 2022, 55.8 million people in the U.S. sought mental health treatment, and over 50% of adults with mental illness received some form of treatment. In 2024, there continues to be a high demand for varied and accessible mental health services.
To meet this need, behavioral health professionals are using innovative care models like single-session therapy, digital self-help tools, and brief group interventions. These approaches offer quick, flexible support and can be easily scaled to reach more individuals. For instance, single-session therapy provides immediate, focused help for specific issues without the need for ongoing appointments.
For employers, this means expanding mental health coverage in their company health insurance plans to include low copays for online therapy, subsidized mental health apps, and support for group sessions and workshops and other employee well-being programs. This approach can lower the cost of employee health benefits and ensure employees get timely, appropriate care.
Focus on Preventive and Proactive Care in Employee Health Benefits
In 2024, we are seeing a shift in employee health benefits toward preventive and proactive mental health care instead of a crisis-centered model. Employee wellness programs like coaching, text therapy, and virtual group support encourage people get help early and proactively manage their mental health needs. This can help prevent the worsening of behavioral health problems such as substance use or depression, leading to a more fulfilling life and boosting workplace productivity.
A 2021 study on Blended Care Coaching (BCC) for people with anxiety and depression showed promising results. 75.9% of participants in employee wellness programs saw major improvements while receiving BCC and 88.6% recovered from their symptoms based on generalized anxiety and depression assessments.
Employers can adapt their company health plans to support these preventive measures to encourage better mental health and life satisfaction. This could mean covering services like wellness coaching, employee wellness programs, and text-based therapy, which help reduce long-term health costs by helping employees manage their mental health issues early and proactively.
Culturally Competent Care: An Emerging Trendin Employee Health Benefits
Culturally competent care is a big trend in 2024, focusing on supporting the mental health of marginalized communities. This kind of care takes into account the cultural and linguistic needs of different patient groups, such as those who have immigrated, people of color, or those who identify as LGBTQ+.
These services can include:
- Multilingual counseling services. Offering therapy and support in multiple languages to accommodate non-native English speakers and immigrants.
- Culturally tailored therapy programs. Developing therapy approaches that respect and incorporate the cultural backgrounds and values of people of color.
- LGBTQ+ affirming care practices. Providing healthcare services that are respectful and understanding of LGBTQ+ identities, including specialized support groups and trained professionals.
Employers can ensure an employee health benefits program that integrates culturally competent care practices and tailored support services to create a more inclusive and supportive healthcare environment for all individuals.
A Final Word: The Benefits of Addressing Mental Health to Affordable Healthcare
As we move through 2024, prioritizing mental health in the workplace is more important than ever. Savvy employers are adapting to the evolving landscape by incorporating holistic and innovative approaches into their benefits plans.
By offering comprehensive coverage, including employee wellness programs, telehealth, digital therapeutics, and culturally competent care, employers can provide essential support to their workforce. This not only enhances employees’ well-being but also fosters a more productive and engaged work environment.
Read part 2 of our exploration of mental healthcare trends, where we will discuss the implications of behavioral trends for employers and explore how organizations can better support their employees’ mental health and well-being.
About Roundstone: An Affordable Healthcare Solution
Roundstone is an innovative employee health benefits company that provides affordable healthcare to small to midsize companies. We help small and midsize businesses offer competitive benefits at a lower cost by self-funding health insurance through our group medical captive. The Roundstone Captive enables companies to self-insure safely by pooling hundreds of employers together to share risk and save money.
With easy onboarding and personalized support every step of the way, the captive offers control, flexibility, and transparency and returns all savings back to employers where they belong. We believe in always aligning with the employers’ best interests and remain committed to our mission — quality, affordable healthcare and a better life for all.
Contact us today to speak to a Roundstone rep about how you can design a plan that ensures the physical and mental health well-being of your workforce.
To learn more, download our free eBook, Behavioral and Mental Health Cost Containment Strategies. You’ll discover ways a self-funded group captive plan with Roundstone can help you meet your employees’ behavioral and mental health needs while continuing to provide high-quality care at a lower cost.
