Starbucks is not just leading the country in coffee, but also in employee mental health support! We are sure many of you have read recently that Starbucks announced improvements to their mental health insurance coverage for all employees and their families. The coverage increased from $450.00 a year, to $5000.00, significantly higher than the majority of Canadian employers.
Did you know?
- Typical sessions with a psychologist in Toronto cost $150.00-$250.00 per hour.
- Treatment is typically recommended for 10-20 sessions i.e.: $1500.00-$3000.00 at minimum.
- The current wait times in Toronto for government funded psychology services can be anywhere from 6 months to a year.
What are the benefits of Starbucks' new plan?
- Provides funding for more than 3 psychology treatment sessions per person per year (~25 on average)
- Shows their support for the mental health and wellness of their employees and their families
- Reduces wait times required for employees to access support as needed
- Helps reduce absenteeism, presenteeism, disability claims, and increase employee satisfaction and loyalty = supporting their bottom line!
- Role model for other organizations and businesses.
What is your company doing to support employee mental health? How much coverage do you have for psychology and psychotherapy?
Thanks for being a leader in coffee AND mental health support, Starbucks! We are looking forward to hearing how the company continues to support employee mental health.
Image from: www.fortune.com