Mental healthcare costs have increased significantly over the past several years. Nearly 1 in 10 Americans have accumulated significant debt from mental health treatments; meanwhile, mental illness affects almost a quarter of the population. In this landscape, where so many American workers face the brunt of mental healthcare costs, how can companies provide effective, affordable mental healthcare to their employees without breaking the bank? 

At Centivo, we’re on a mission to achieve radical affordability and enhanced patient access for employees, including mental health support. Here’s why mental health should still take priority—  and how to navigate the rising costs of mental healthcare while maximizing value for your company and your workforce.

Investing in mental health benefits your bottom line

The cost of mental healthcare has long been a barrier for many seeking treatment. From therapy sessions to medications and specialized care, these services can add up quickly, especially if employees can’t find a provider within their health plan network. Unfortunately, mental health is a historically taboo subject, and many individuals don’t seek help until their symptoms are severe.

The rising costs of providing mental health benefits can be daunting. But BenefitsPro reports that organizations offering comprehensive mental health programs are 10% more likely to achieve ROI compared to those without such benefits—meaning the investment is actually a strategic business decision.

Addressing mental health in the workplace is crucial: a mentally healthy workforce is a more engaged, loyal and productive workforce. Employees who feel supported and have access to the mental healthcare they need are less likely to experience burnout or leave their jobs— ultimately saving businesses money in the long run. Businesses prioritizing mental health are also seen as more human and attractive to top talent, which can help reduce recruitment costs and improve employee retention.

Addressing mental healthcare gaps can also improve overall employee well-being, leading to fewer sick days, less burnout and better overall morale. In turn, this helps businesses avoid the hidden costs associated with untreated mental health issues, such as decreased productivity.

Maximizing your mental health benefits package

As healthcare costs rise, businesses should maximize the value of their mental health benefits to better offer their employees access to affordable, high-quality care. Here are some strategies to make the most of your company’s mental health benefits:

  1. Utilize virtual care services: With the growing challenge of care access, offering a large selection of mental health providers through a streamlined digital experience can be an empowering tool for employees. Many patients prefer remote consultations for their convenience, accessibility and lower cost. 
  2. Offerings to integrate mental health with primary healthcare: Employers can partner with practices like Centivo Care or onsite clinics to offer services including dedicated primary care teams, integrated behavioral health support and after-hours assistance for urgent needs. When psychological and physical health are treated together, it helps reduce fragmentation, lower overall costs and ensure employees have continuous support.
  3. Focus on affordability as a driver of access: Encourage your employees to make the most of their mental health benefits by promoting the low cost of care, motivating them to see a mental healthcare provider. Centivo’s Partnership Plan offers free mental healthcare visits – allowing employees an entry point to treating psychological and behavioral issues at no cost. 

Ultimately, addressing mental health within your business can lead to a stronger, more resilient workforce. By investing in mental health care, you’re not only helping your employees lead healthier lives—you’re also making a smart investment in the long-term success of your company.