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According to the National Institute of Mental Health, 1 in 5 Americans suffer from a mental issue. The U.S. suicide rate increased 36% over the past two decades and the CDC reported that nearly 50,000 people died of suicide in this country in 2022 – a 2.6% increase over 2021. The World Health Organization (WHO) reports that people with severe mental health conditions die 10-20 years earlier than the general population.
Once I started digging into the causes of this mental health crisis to prepare this piece it became very obvious to me that it’s no wonder the trend is worsening. The average American is and has been dealing with so many daily challenges from the economy, the current political environment, food insecurity, gun and other forms of violence and bullying, global conflicts and wars, an ongoing drug epidemic, border security concerns, social and other media pressures, concerns over climate change, and the list goes on. Is it any wonder that there’s a significant increase in stress, anxiety, and depression?
Added to this, there’s new data showing a significant increase in feelings of loneliness in America. In fact, the WHO calls loneliness a ‘pressing health threat’.
Given the challenges we face as a society, I’m sure most of us have been either directly or indirectly impacted by mental health issues. My concern is how we can best address the root causes of this crisis while at the same time improving our mental healthcare system to support and address it.
A good friend of mine is an emergency room nurse and she’s shared her personal experiences about a typical night in the ER filled with one mental health case after another. Only occasionally does she deal with an automobile accident or broken bones. Unfortunately, there aren’t enough mental health medical professionals available, so patients have to wait many weeks or even months to see a psychiatrist or psychologist once discharged from the ER. Often, they end back up in the ER before they’ve been seen by a qualified provider.
I also have an older family member who suffers from a significant mental health issue. She lives alone and doesn’t stay compliant with her medications. Unfortunately, this results in frequent exacerbations of her symptoms that lead to challenges with her family, neighbors, friends, and others who have supported her over the years. I see that loneliness is playing a huge role in her challenges and I do my best to help with that but it’s not enough.
Loneliness is not only an issue for our older population but working age individuals too. I believe that social distancing that occurred during the height of the pandemic resulted in more people working from home. This trend has continued and I believe has led to a significant increase in the number of individuals experiencing loneliness, even if they did not live alone. I personally have had feelings of loneliness even though I’m on video conferencing several times each week. It’s simply not the same as interacting with others in person.
Companies that have implemented a return to office policy (either full-time or hybrid) may just see an improvement in the mental health of their employees as a result of increased human interaction amongst their teams. Fortunately, more employers are prioritizing mental health support as part of their employee benefits programs which is another positive step.
While a comprehensive and holistic approach is needed to best address this concerning trend, what can the insurance industry do to help?
Working in the insurtech space, I see many companies who are launching or have launched tech solutions to help address this growing need – a couple of them are clients of mine. Attend any insurtech conference in fact and you’ll meet several companies focused on mental health.
For insurers looking to enhance their service offerings or improve their operations to address this growing issue, there are many options available to consider today. Some companies are already responding to their policyholders’’ needs by expanding their product and service offerings to support them better and these solutions will hopefully help.
In addition to looking at adding new products or services, it’s important to review current claims and administrative practices. A challenge I see in the U.S. group insurance space is the limitation placed on benefits due to a mental health diagnosis. This could result in people with mental health issues not having enough income to continue treatment and seek the support needed to improve their condition. I’m aware of one major U.S. insurer that’s announced its plan to eliminate this limitation. Hopefully other companies will agree that it’s time for this policy change too.
At the societal level, I believe more empathy and kindness toward those struggling with mental illness is needed. I have made a conscious effort to reach out to family members and friends who I either know or believe are experiencing mental health issues to let them know that I care and am available to them. Perhaps that is the best thing we can all do, as individuals, to have a significant positive impact on this crisis.
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