Employers balance competing interests in their employee benefits packages: benefits and costs. How much value are they delivering to employees, and what do these plans cost? In our role as benefits consultants, we work to find cost-effective ways to enhance benefits for a true win-win between the employer and the employees.

The Value of Mental Health Benefits to Employers

It’s no secret that quality mental health coverage is at the top of everyone’s list—especially in the current climate. This critical part of healthcare is saddled with out-of-pocket and out-of-network costs, difficulty finding providers, and stigma, to say the least. And with rising insurance premiums, how can you possibly afford to add robust mental health benefits to the mix?

Well, for companies looking for more comprehensive benefits that include quality mental health care, there’s a particular strategy we use to create the best benefits package possible.

Here’s the answer: use discounts and savings in ancillary lines of insurance like dental, vision and life insurance to pay for better mental health coverage.

Use Discounts on Ancillary Lines of Insurance to Cover Virtual Mental Health

Many carriers for ancillary lines of insurance offer discounts for bundling coverage. This can knock 5-15% off premiums for these lines of coverage, which can add up to $5-10 per employee per month (PEPM) or more. Pair this with Acrisure’s negotiated discounts for leading virtual mental health solutions and you can offer virtually free mental health care to your employees.

A major benefit to this approach is that it gives employees more choice and flexibility in their benefits to meet their individual and family needs. Health insurance without quality mental health care is not true healthcare.

By using discounts on ancillary lines of insurance for mental health coverage, your company can enjoy:

• Lower Premiums: More affordable benefits to employees and a lower bottom-line cost to the business

• Improved Benefit Satisfaction: One of the most commonly critiqued areas of employer benefit packages is the lack of accessible and affordable mental health care

• Healthier, Happier, and Better-Performing Employees: Better mental and behavioral health for employees and their dependents carriers a massive ROI for your organization (estimated at 3-4X)

We know that timely mental health insurance is essential to the well-being of employees up and down the org chart at every business. That’s why we’ve been working to bring a unique perspective to providing the widest range of affordable and comprehensive plans for your team.

Let’s carve out 15 minutes to chat about how you and your employees can use discounts on ancillary lines of insurance to cover mental health coverage.

Posted by John Hansbrough in Acrisure, Behavioral Health, Benefits Administration, Digital Health, Human Resources, Mental Health, Telehealth, Wellness