Between pandemic fatigue, stress of the holidays, and shorter days of winter, mental and behavioral health requests are on the rise. In fact, the 2022 HSA Bank Health and Wealth Index, a report that explores trends in consumer financial, physical and mental health, reveals that 1 in 5 respondents indicated they were not very or not at all confident about their overall mental health. Those concerns can be amplified by what we call the holiday blues, which can have negative consequences on as many as 3 out of 5 Americans, according to a survey cited by the National Alliance on Mental Illness (NAMI). Another NAMI survey finds that 64% of people with mental illness say the holidays make their conditions worse.
Looking closer, the Health & Wealth Index shows a large divide around engagement and perceived value of the mental health benefits available, with 81% of baby boomers and 64% of Generation X respondents indicating they have never obtained mental health care compared to 46% of millennials and 43% of Generation Z who have.
This indicates that employers need to devise a strategy that integrates mental health into their overall wellness plans, not just at the holidays but year-long. And it should be tailored to account for generational differences.
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How employers can help
Employers can help to boost mental health support of employees by offering an employee assistance program or for those that offer health savings accounts (HSAs), reminding their employees that their HSA can be used for a variety of mental health-related expenses.
For example, HSA savings could cover a mental health therapist or counselor, psychiatric care and prescribed therapeutic drugs. Wellness programs that address mental health, such as smoking cessation programs and substance abuse treatments, may also qualify as IRS-allowed HSA expenses.
An HSA can also cover acupuncture treatment, often used for anxiety relief, as well as counseling, psychoanalysis, therapy or psychological care, prescription or over the counter medicine that can provide relief from anxiety, service animals, and sleep deprivation treatment, all of which can help your employees as they care for their mental health.
Ongoing education
It is important that employers not only offer these benefits, but also educate around the benefits they offer. Educating employees about how your benefits including HSAs can help with mental health care should be a year-round effort.
Creating a compelling and impactful communications strategy to keep employees engaged year-long is a key challenge, but also an important opportunity. For this reason, tailoring your communications will help employees feel recognized and valued, which can encourage them to use their benefits more thoughtfully as well.
As an employer, it's important to help your employees get through what can be a tough time of year, remain productive, strengthen morale, and ease interactions with colleagues.
Kevin Robertson, HSA Bank CRO
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