6 ways to use tax-free funds to support mental health

Understanding and supporting employee mental health continues to be top priority for organizations, particularly as financial worries, job insecurity, and rapidly changing social, political and economic situations may be making it difficult for employees to bring their best selves to work. 

HR teams can better support the needs of their workforce and mitigate potential fallout from a decline in employee mental health by educating employees about workplace policies and benefits that are available to them.

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Why employee mental health matters

Common drivers of workplace stress, including organizational change, job ambiguity, excessive demands and lack of resources and support (not to mention a host of personal stressors), combine to influence the mental health and focus of employees at work and at home. In fact, more than 79% of employees say they experience workplace stress and 66% report feeling burnout. 

The implications? Job stress is estimated to cost American companies more than $300 billion a year in health costs, absenteeism and poor performance. It drives 40% of job turnover and increases healthcare expenditures by nearly 50%. 

How tax-free health benefits can help

As HR professionals, while we can't predict or control the variables that contribute to employee mental health, we can take steps to educate employees about the policies and benefits our organizations offer to help them cope. For example, if your organization offers a flexible spending account (FSA) or health savings account (HSA), employees can use those tax-free funds to pay for eligible products and services that address and improve mental health. 

Read more:  What employee wellness benefits should your company offer?

Consider sharing the following six ways employees can use their tax-free funds to support mental health for themselves and their dependents during Mental Health Awareness Month and beyond.

1. Work with a qualified mental health professional, either in person or through a secure, convenient telehealth experience. Virtual mental health services are an excellent way to quickly gain access to care that meets your needs and schedule, in the privacy of your own home. 
2. Mitigate or reduce chronic pain, which can increase feelings of anxiety, depression, and fatigue with acupressure cushion or heat-based and ice-based therapies.
3. Keep key vitals, like blood pressure, in check to mitigate potential additional symptoms and maintain peace of mind that your physical health is on the right track. 
4. Reduce tension in hands and arms and support active recovery after surgery or injury with physical therapy putty.
5. Treat migraines, tension headaches, and eye strain that can lead to decreased focus or even absenteeism with a high-tech migraine relief mask and over-the-counter (OTC) medications. 
6. Improve sleep quality with telehealth services that diagnose and treat sleep apnea, and OTC products and medications that reduce snoring and help people fall asleep faster. 

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As HR professionals, we are often the first to see that employee mental health may be at risk. That's why it's so important that we proactively take steps to educate our teams, company leaders and all employees about the support that is available to support not only their physical health, but their mental well-being. Staying committed to this task can ultimately help organizations balance long-term performance, productivity and the bottom line.