In the past, employee benefits were mostly about covering the basics—medical insurance, dental care, and maybe some life insurance. While those are still important, today’s employees expect more. Specifically, they’re looking for better mental health support. And let’s face it, traditional benefits often fall short when it comes to mental health services. That’s where myFlexplan can make a real difference.
As an employer or insurance advisor, offering more comprehensive mental health support isn’t just a nice-to-have—it’s essential. By pairing traditional benefits with the personalization that comes with myFlexplan, you can fill the gaps in coverage, boost employee well-being, and ultimately improve satisfaction and retention.
The Growing Demand for Mental Health Benefits
Mental health has become a top priority for employees across industries, especially after the COVID-19 pandemic. Whether it’s burnout, anxiety, or stress, employees are more vocal about their mental health needs—and they’re looking to their employers for support.
Here’s why it matters:
Employee performance: Mental health challenges can lead to decreased productivity and higher absenteeism.
Retention: Companies that offer strong mental health benefits are more likely to retain their top talent.
Workplace culture: Supporting mental health fosters a positive, more empathetic work environment, which improves morale and employee engagement.
The issue is that traditional benefits often don’t provide enough mental health coverage. Many plans may limit the number of therapy sessions or have restrictive provider networks. That’s where myFlexplan come in.
Traditional Benefits and Mental Health
Traditional benefits are great for core health coverage—doctor visits, hospital stays, prescriptions—but mental health is often treated as an afterthought. Here are some common limitations:
Limited therapy sessions: Many health plans only cover a handful of therapy sessions per year, which isn’t enough for those dealing with ongoing mental health issues.
Narrow provider networks: Some insurance plans restrict the choice of mental health professionals, which can leave employees struggling to find a therapist who meets their needs.
High co-pays or deductibles: Even when mental health services are covered, employees may face high out-of-pocket costs, discouraging them from seeking the help they need.
These gaps can leave employees without the support they need to manage their mental health. That’s why combining traditional benefits with myFlexplan can be a game-changer.
How myFlexplan Can Fill the Gaps
myFlexplan offers employees the flexibility to spend on wellness services that matter to them, including mental health care. Unlike traditional insurance, myFlexplan lets employees decide where to allocate their health & wellness funds, which means they can prioritize mental health services if that’s what they need most.
Here’s how myFlexplan can fill the gaps in traditional coverage:
Unlimited therapy options: Employees can use myFlexplan funds to cover therapy sessions beyond what traditional benefits offer. Whether it’s seeing a licensed therapist or using online counseling platforms, myFlexplan provides that extra cushion for mental health support.
Wider provider choice: With an HWSA, employees aren’t limited by the narrow provider networks of traditional plans. They can choose the mental health professional that best suits their needs—whether that’s in-person or virtual therapy.
Holistic mental health support: myFlexplan can cover more than just therapy. Employees can use the funds for mindfulness apps, stress-relieving activities like yoga or meditation, and even wellness retreats, all of which can contribute to better mental well-being.
By offering flexible benefits alongside traditional benefits, you empower employees to take control of their mental health, which ultimately leads to a healthier, more engaged workforce.
Real-Life Examples: How Flexible Benefits Support Mental Health
Let’s look at a couple of scenarios to see how myFlexplan can complement traditional benefits:
Scenario 1: An employee dealing with anxiety. Their traditional plan covers a few therapy sessions, but it’s not enough for ongoing support. With myFlexplan, they can continue seeing their therapist without worrying about running out of coverage for these sessions. They can also use the funds for a meditation app to help manage their anxiety between sessions.
Scenario 2: An employee facing burnout. This employee’s health insurance covers basic mental health services, but the plan doesn’t include things like mindfulness or stress management classes. The employee uses their myFlexplan to sign up for yoga classes and a wellness retreat, helping them recharge and avoid burnout.
In both cases, myFlexplan allows the employee to access mental health resources that go beyond what traditional benefits cover, leading to a more comprehensive approach to well-being.
The Employer’s Perspective: Why Flexible Benefits Make Sense
For employers, offering flexible benefits isn’t just about being generous—it’s a smart business move. Here’s why:
Cost control: You can set a fixed amount for each employee’s myFlexplan, giving them the flexibility to choose mental health services without increasing your overall costs.
Attraction and retention: Employees value mental health benefits more than ever. Offering flexible benefits helps you stand out in a competitive job market and keeps your current employees happy and engaged.
Improved productivity: Employees who feel supported in their mental health are more likely to be productive, focused, and loyal to the company.
It’s a win-win situation: your employees get the personalized mental health support they need, and you gain a more resilient, engaged workforce.
How to Implement Flexible Benefits for Mental Health
If you’re considering adding myFlexplan to your benefits package, here are some steps to get started:
Survey your employees: Understand their mental health needs and preferences. This will help you design a list of eligible wellness expenses that aligns with what they value most.
Set a budget: Determine how much you’re willing to contribute to each employee’s myFlexplan. Keep in mind that you control the costs, so you can offer this benefit while staying within budget.
Define eligible expenses: Decide what mental health services and wellness programs will be eligible under the wellness side of myFlexplan. The more flexible you are, the better employees will be able to use the funds to meet their specific needs.
Communicate the benefits: Make sure your employees understand how their myFlexplan works and how they can use it to support their mental health. Provide examples of eligible expenses, like therapy, meditation apps, or stress-relief activities.
Monitor and adjust: After implementing myFlexplan, keep an eye on employee feedback and participation. Make adjustments if necessary to ensure that the program is meeting their needs.
Mental Health Support is Essential
In today’s world, mental health support is no longer optional—it’s a must. Traditional benefits alone often don’t provide enough coverage to meet employees’ mental health needs. By offering myFlexplan alongside traditional health plans, you give your team the flexibility and freedom to get the support they need to thrive.
Investing in mental health isn’t just good for employees—it’s good for business. With a hybrid approach that includes flexible benefits, you’ll not only boost employee satisfaction but also create a more engaged, productive, and resilient workforce.
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