Starbucks raises mental health insurance coverage for employees

 In News

Starbucks Canada recently announced that it would increase mental health insurance coverage for all of its employees and their families from $450 a year to $5,000.

The move has been praised by the Canadian Psychological Association (CPA). CPA president Dr. David Dozois said that Starbucks Canada’s initiative demonstrates corporate leadership. While it is a cost-effective move for the coffee company, Dozois noted that Starbucks might also be doing it for humanitarian purposes.

The Canadian economy spends $51 billion a year on mental illness costs, of which about $20 billion is taken on by employers.

Dr. Karen Cohen told Magic 99.9 that although psychological services are considered first line treatment options for many disorders, they are not covered by the country’s public healthcare system. This leaves Canadians to either rely on their employee benefit coverage (which is often insufficient), pay for their own treatments out-of-pocket, or to go without.

According to research, it takes between 10 and 20 sessions of psychotherapy to fully address common mental issues.

(reposted from insurancebusiness.ca article here)

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