- Key insight: Discover how HSAs and FSAs broaden mental-health access beyond traditional insurance coverage.
- Expert quote: Giordano - HSAs/FSAs offset out-of-pocket mental-health expenses, easing employee access to care.
- Supporting data: 70% of benefits leaders report mental-health challenges significantly impacted employee performance.
Source: Bullets generated by AI with editorial review
May is Mental Health Month, a great time to remind employees of all the ways
In a survey of 500 benefits leaders and 7,500 global employees, 70% of leaders say mental health challenges "significantly impacted employee performance" over the last year, and half of employees said they
Read more:
Therapy and counseling services
"FSAs and HSAs are really important for the employee, because you're already dealing with mental health challenges, and then there's out-of-pocket costs they may face [for care]," says Joe Giordano, compliance manager at online HSA and FSA marketplace Health e-Commerce. When seeking in-person or telehealth therapy or counseling services, employees can use their accounts to cover copays, deductibles or coinsurance costs — whatever insurance doesn't cover, he adds.
Telehealth has become an increasingly popular route of care for employees, allowing them to save driving time, expand their provider options and get seen more quickly. "One in five adults are affected by mental health conditions every year, but the demand is outpacing the availability of providers by four to one in certain areas of the country," notes Giordano. Reminding employees how their HSA or FSA works in conjunction with EPA benefits or any additional mental wellness solutions provided is a way to make care feel more within reach.
Read more:
HSA/FSA-eligible products
There are products that directly treat mental health, but conditions that impact employees' mental state are worth reminding employees of as well. Benefit leaders can remind workers that some products may require a Letter of Medical Necessity from a healthcare professional to be eligible. Products on Health e-Commerce's site have a special notation if this is the case so employees can plan ahead.
"An example of a product that directly treats mental health is Calmigo, a device that helps control your breathing in moments of anxiety or PTSD or extreme stress," says Giordano. "There are also a lot of products that treat underlying medical conditions that can affect mental health, like sleep aids and devices. Sleep apnea affects over 30 million Americans, and sleep deprivation can lead to mental health issues, so things like CPAP devices, night mouth guards to prevent teeth grinding and snoring, and OTC medications [might be helpful.]"
Employees experiencing chronic pain are at an increased risk for conditions such as depression and anxiety, according to psychiatry.org, so products like cold and heat therapy, eye masks, acupressure, pain relief products, weighted heating pads and pain relieving massage guns can all be helpful, Giordana explains.
The impact better overall physical health has on mental health should not be overlooked, either. When putting together product communication for employees, benefit leaders can point them to diagnostic tracking devices like the Oura Ring and Whoop Band that track heart rate, sleep and mood. Weight health is another area that has a major impact on mental health, so including GLP-1s and other helpful resources can also be added, says Giordano.
Read more:
By putting together a list of covered items and services, benefit leaders can promote HSA and FSA engagement as well as the company's focus on worker well-being.
"This kind of communication shows that the employer actually cares, which can have a positive effect on the employee who may be dealing with mental health challenges," Giordano says. "Many employees may think that only their insurance covers things like mental health services. Adding that extra layer … is important not only for employee productivity, but general workforce happiness overall."
Free tools to help improve employee engagement with their HSA or FSA:
- Health e-Commerce's
customizable calendar created for EBN 3 free HSA tools to use during and beyond open enrollment
