While younger generations – particularly men – are getting better at talking about their own mental health issues, the nation is facing a “double whammy” from the aftermath of the pandemic and an ongoing cost of living crisis.
To mark World Mental health Day, advisers and insurers told Health & Protection they were seeing the impacts of the current environment through higher claims and from people in a wide range of situations and with varied problems.
Growing demand for mental health services
According to Vitality, its data has consistently shown that with every year, more people than before are accessing therapy for mental health through its health insurance offerings.
Its Health Claims Insight report for 2022 revealed that between 2015 and 2021, the provider saw close to a three-fold increase in the number of mental health claims per member.
But it warned the ongoing impact and aftermath of Covid, and other economic challenges, are only likely to contribute to continued growth in demand for mental health services.
Indeed, Alan Knowles, co-managing director at Cura Financial Services, told Health & Protection he has seen anecdotal evidence of an increase in excess alcohol disclosures.
“Certainly, for some people the lockdowns created stress – both financial and internal,” Knowles said.
“The current worsening financial climate is likely to cause a greater impact,” he added.
Double whammy for employers
According to Leo Savage, global wellbeing consultant at Howden, employers are facing a “double whammy” when it comes to mental health with the effects of the pandemic still taking its toll, and the cost-of-living crisis adding further pressure.
“Providing mental health support to help employees get through the next few months and beyond will be vital in helping to support a robust, healthy and happy workforce. Businesses need to get on the front foot and be proactive,” he said.
Savage suggested employers introduce short sessions at the end of team meetings to discuss any worries and allow space for people to talk.
“Managers can also use this time to signpost people to help and support such as employee assistance programmes, apps which monitor and promote better mental health, as well as free resources and mental health charities that offer confidential support and advice,” he continued.
“Benefit policies often include value-added services such as virtual GPs and access to mental health practitioners, so it is worth employers checking what resources are already available.
“Introducing wellbeing initiatives such as mindfulness, financial education sessions and giving free advice via their intranet with links to resources are also quite simple to introduce,” Savage added.
Wellbeing trainer, Sarah Randall, director at Working with Wellbeing, told Health & Protection the pandemic has increased awareness around an individual’s mortality, and the magnified feelings around lack of control.
“All these areas appear to have exacerbated mental health issues for many. However, it does seem that mental health has been given a bigger platform, post pandemic, creating more understanding and acceptance of discussing it more openly,” Randall added. “The increase in cost of living probably magnifies the above-mentioned areas, but this hasn’t been an area discussed with me.”
And according to Legal & General’s latest Wellbeing at Work Barometer, the top stressors for employees right now are finances and the cost of living.
Jo Elphick, marketing director at Legal & General Group Protection, told Health & Protection that stress caused by concerns about finance and the cost of living increased almost three-fold; from 23% in 2021 to 64% this year, with the biggest increases among men and 18–34-year-olds.
But the good news is that men of this age group do appear to be alive to the risks posed to their mental health.
Generational differences
Miles Robinson, founder and director of Home Group Financial revealed to Health & Protection that he has been working with a semi-professional football team to educate the players on protection and accident protection.
He emphasised that all of the team are very invested in their own mental wellbeing and interested in what policies can support them with this.
Robinson believes the change in attitude toward mental health conversations among men could be generational.
“Those in their 20s and 30s are more educated in these topics and the stigma of talking about these elements for both males and females is somewhat being relieved; from what used to be a private topic to something people are more actively sharing,” Robinson continued.
“I am very passionate about these topics and massively support whatever improvements we can make as a society in improving mental health and wellbeing.”