Mounting deaths in this country due to suicide and the opioid crisis is not news. However, many in the benefits community have thought problems related to mental health did not impact employers. In fact, we’ve uncovered disturbing trends that indicate it’s not only a growing problem, it’s also a significant financial burden primarily carried by employers.

With recent media coverage on the rise in youth deaths across the United States, Alliant took an in-depth analysis of life insurance cause of death claims from several leading life insurance carriers and the data supported our theory that a relevant trend is underway. Our analysis revealed that for the 20-34 year old age group alone, suicide and drug overdose deaths have risen more than nine percentage points in nine years, while all other causes of death declined by about 10 percent over the same time frame. More specifically, suicide and drug overdose claims increased a whopping 28% over a nine year period (2008 to 2017).

According to the National Institutes of Health (1), the mental health problem in the United States is so deep that one of every five adults has a mental health disorder. Research says this problem does not discriminate based on employment status, gender, race, or age. While these findings are deeply unnerving, there are a number of actions employers can take to support their employees’ mental health and protect your organization from the costs of untreated mental health problems.

Sources

1. Weinberger A.H., Gbedemeh M., Martinez A.M., Nash D., Galea S., & R.D., G. (2018). Trends in depression prevalence in the USA from 2005 to 2015: widening disparities in vulnerable groups. Psychological Medicine. doi:10.1017/S0033291717002781. Retrieved from https://www.ncbi.nlm.nih.gov/pubmed/29021005