Resonating strongly with advisers this week was our story reporting on the spike in mental health claims during the Covid-19 pandemic…
Health and life insurer nib New Zealand saw member claims for psychiatric consults rise by 225% in the two years to December 2021. The firm’s CEO Rob Hennin says living through Covid-19 has had a “real impact” on society.
“Living through the pandemic has been an experience like none other,” he says. “The impact of Covid-19 and all that comes with it – including extended periods of time isolated from families, colleagues and friends – has had a real impact on the health and wellbeing of our community which is reflected in our claims experience. Psychiatric claims increased 225% between January 2019 and December 2021.”
According to figures released by the firm, women are overrepresented, accounting for 67% of all psychiatric claims and exceeding claims made by men in almost every demographic. In addition, millennials were adversely affected, representing 61% of mental health claims during the period.
The insurer increased its mental health cover last year, offering members support from registered psychologists and psychiatrists with no waiting periods, excess, or exclusions for pre-existing conditions.
Clearhead, a provider of mental health and wellbeing services that’s supported by the nib foundation, found loneliness and a lack of purpose to be two leading causes of psychological distress among its users.
Clearhead’s founder Dr Angela Lim says: “We delivered four times the amount of therapy sessions in 2021 compared to the previous year, and had eight times more Kiwis using our self-help mental health services.
“Now as restrictions are being removed, many users have expressed feelings of ‘re-entry’ anxiety when facing social situations.”