Mental Health Coverage Through Benefit Plans: A Comprehensive Guide for Businesses

Why is employee mental health so important to businesses? There 
are obvious benefits — such as protecting the health and well-being 
of valued employees. But investing in mental health goes beyond this. 
There is a range of operational benefits too:

• When employees feel that their mental health is taken care of, they are likely to perform better.
• Absenteeism is also likely to decrease. This is because employees feel better equipped to face the working day.
• The workplace culture becomes more positive. It becomes easier to attract the very best talent.
• Companies are able to retain talent too. Turnover is reduced and operational costs fall.
• The workplace becomes more open. Employees are more likely to talk about their potential problems and seek assistance before they become too severe.

The aim should always be to destigmatize mental health issues. 
And employees must have the opportunity to find support and get help. Once this culture is fostered, the benefits are far-reaching.

Many Canadian businesses are already looking to support mental health in a meaningful way in their working places. Here are a few of those strategies already in action across the country.

• Improving Recognition of Psychological Safety
  Physical health and safety has been a point of discussion in Canada’s workplaces for generations. However, 27% ofrespondents to a Mental Health Research Canada study said that colleagues did not always recognize the importance of this.But for psychological safety, the level of recognition is even lower — 45% of respondents said that protecting employee psychological safety was not always deemed important.One of the significant changes of recent years is in the perception of mental health and psychological safety. There is still some way to go, but these two aspects of well-being are starting to be viewed as equally important. Psychological well-being is no longer an afterthought.
• Implementing Mental Health Leaders
  Mental health is a concern for people from all walks of life and backgrounds. However, workplaces can achieve company-wide improvements by implementing specific mental health leaders within the organization.These individuals provide a focal point for mental health efforts. They also give employees a point of contact if they are encountering any issues.
• Encouraging Open ConversationPerhaps the most profound change in recent years has occurred right across our society. Mental health issues are no longer viewed as negative personal qualities — things to be ashamed of or ignored. Instead, they are viewed in the same way as any other illness or ailment.This removes barriers to conversation and discussion. But businesses still need to make their own efforts in this regard. This is why many businesses are actively working to encourage the flow of positive conversation and discussion.

One of the most effective ways businesses can invest in employee mental health is with insurance coverage and corporate benefit plans.
While individuals can pay for their own mental health insurance, this does not address issues across the broader workforce. This is why group health insurance policies are more valuable to Canadian society. Group policies can take one of three forms.

• Employer-Sponsored Mental Health Coverage
  With this form of group health insurance, the employer pays most or all of the costs of the health insurance. The employee pays the remainder.
  The employer selects the ideal insurance policy and makes these details known to employees.
• Professional Association Mental Health Coverage
  This is where members of a professional organization receive mental health insurance benefits as part of their membership package.
  The association selects the policy, but the member may be able to customize the specifics of their own policy to meet their own needs.
• Government-Sponsored Mental Health Coverage
  Government-sponsored benefits are provided by the federal or provincial government. Examples include the Ontario Health Insurance Plan (OHIP), the Medical Services Insurance (MSI) program in Nova Scotia, and the Medical Services Plan (MSP) in British Columbia.

They may not be made available to all individuals and may instead be used to offer more comprehensive services to individuals or groups who cannot find coverage elsewhere. Available policies will vary between different provinces and territories.

Typically, when we’re talking about corporate benefit plans, we’re looking at employer-sponsored benefits. Some of the typical features of an employer-sponsored benefit program include:

• Significant assistance from the employer, making policies more affordable and accessible.
• High participation requirements across the workforce — this may be as high as 100% for smaller companies, or 70% for larger ones.
• The option to add family members to the group benefit, usually for a fee.

While policies vary from company to company, an effective employer-sponsored benefit program will provide a similar set of benefits to the organization and its workforce.

• Employees feel taken care of by their company, increasing job satisfaction.
• Comprehensive health insurance is a real perk, helping to attract and retain the best talent.
• Broad adoption of corporate health insurance policies means no one slips through the cracks.