The Growing Need for Employee Mental Health Benefits

Employee mental health has become a critical issue in the workplace, and it's time for employers and benefits advisors to take notice. LIMRA recently reported that a whopping 75% of U.S. workers are dealing with mental health problems in 2024. That's a huge number, and it's only going to get worse if we don't take action.

Gen Z is hit particularly hard, with over 91% facing serious mental health challenges that require professional help. This generation is known for being tech-savvy and having unique perspectives, and they're looking for employers who take mental well-being seriously and offer real support.

But it's not just about the employees themselves. Poor mental health is also taking a toll on companies, leading to lower productivity, more absenteeism, and high turnover rates. It's a lot more expensive to keep training new employees than it is to retain and support the ones you already have.

So, what do employees actually want when it comes to mental health benefits? First and foremost, they want paid time off specifically for mental health reasons. They also want their employers to cover counseling sessions and provide insurance that goes beyond the basic copay for mental health services.

But here's the thing: a lot of employees don't even enroll in major medical coverage, often because they simply can't afford it. And then there are those who aren't eligible for benefits at all due to their employment status. We can't leave these folks behind. Employers and benefits advisors need to work together to make sure everyone has access to mental health support, no matter what.

The key is to create mental health benefits packages that are tailored to the specific needs of each company's workforce. By really listening to employees and understanding their unique challenges and preferences, benefits advisors can come up with customized solutions that actually make a difference. This isn't just about checking a box – it's about showing employees that their well-being matters and that their employer genuinely cares.

As we move through 2024 and beyond, it's up to all of us to stay on top of the latest trends, keep the lines of communication open with employees, and never stop working to improve mental health benefits. It's not always easy, but it's absolutely essential.

If you're looking for help navigating this complex landscape, don't hesitate to reach out to the team at Evolved Benefits. We're here to help you create a brighter, healthier future for your employees and your company as a whole. Visit our website and fill out the contact form, or find us on LinkedIn. Let's work together to make a real difference in the lives of your clients and their employees.

Watch the full video here - https://youtu.be/oKubsMyoceA