How Disability Insurance Can Help Address Today’s Mental Health Crisis in The Workplace
By Missy Plohr-Memming, Senior Vice President, National Account Sales, MetLife
The uncertainty of the last two years has undoubtedly challenged employees’ mental health. In fact, MetLife’s 20th annual Employee Benefit Trends Study found that U.S. employees’ feelings of stress (39%) and depression (26%) are on the rise from last year.1 To mitigate this, employers have focused on addressing issues like burnout and “Zoom fatigue,” but many often overlook another driver of poor mental health, stress, and anxiety: financial insecurity.
Economic stability is one of five social determinants of health, which influence well-being, quality of life, and health.2 Unfortunately, 55% of U.S. employees are concerned about their financial health and 43% live paycheck-to-paycheck.1 This can be a detriment to their overall health, as many don’t believe they have an adequate safety net to help protect themselves and their families if they aren’t able to work due to a qualifying physical or mental health condition. What’s more, several organizations have identified the link between financial insecurity and mental health issues, which can — among other reasons — stem from the social stigma of experiencing financial hardship.3
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