Bupa launches mental health policy for businesses
Bupa has launched what it claims is the most extensive mental health cover available for businesses and their employees.
The insurance giant said it has seen the number of employees claiming for mental health treatment double over the last 10 years as it launched its new Business Mental Health Advantage policy, which provides cover for mental health conditions, such as depression, bipolar and anxiety.
It also covers alcohol and drug abuse, which are normally excluded from such policies.
The policy also has no time limit on treatment for mental health conditions, so employees can access medical treatment and support if their condition returns.
In addition, employees diagnosed with mental health conditions will also be provided with on-going support to manage their condition and prevent worsening symptoms.
For example, if an employee’s treatment involves daily medication, they will have regular reviews to ensure they are on the most effective and appropriate treatment.
“Mental health is one of the biggest people issues that businesses – big and small – face today,” said the chief executive of Bupa Insurance UK, Alex Perry.
“This launch makes it possible for business leaders to provide better support for their colleagues.”
£42 billion cost to companies
Last year’s Stevenson/Farmer review of mental health and employees showed that poor mental health can cost companies between £33 billion and £42 billion a year.
“We have been at the forefront of supporting mental health and wellbeing in the workplace,” added Mr Perry.
“Our new Business Mental Health Advantage offers leading cover and ease of access, and businesses that go with Bupa can be confident that their people can have access to the right support and care when they need it.”
The chairman of the Association of Medical Insurers and Intermediaries, Stuart Scullion, commented: “There are businesses across the UK that want to create a work culture where their employees feel comfortable to start a conversation around mental health.
“This launch from Bupa puts employee support front and centre, and for the first time, UK businesses can be confident they’re providing their employees with access to first-class mental health benefits and service, whenever they need it.”
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