In the fourth of five webinar sessions, Mental Health Parity – A Lucid Approach, Jack Towarnicky, a member of aequum, joined industry professionals from Humaculture to identify the new mental health compliance requirements and to discuss why mental health issues, costs and administration continue to increase despite the 25+ year old promise of Mental Health Parity legislation and regulation. Guidance is provided on how an organization can effectively respond with strategic action to build organizational resilience and mental fitness by leveraging the purpose, alignment and health of the organization.
A recording of this webinar can be viewed here.
Mental Health Parity Key Takeaways:
- Mental Health Parity in health benefits has not reduced mental health issues
- In fact, mental health issues continue to increase despite efforts to equalize benefits
- Mere CAA compliance will increase costs and administration
- How strategic actions might include investments that:
- Avoid what can be avoided
- Leverage the purpose, alignment, and health of the organization
- Build organizational resilience and mental fitness
- Communicate all negatives as the result of compliance
- Leverage behavioral design to achieve meaningful impact
According to Towarnicky, “Plan sponsors should take strategic action – changes that go far beyond simple compliance to ensure that their employer-sponsored, self-insured plans incorporate the most effective strategies available today for the “health and wealth” of their participants. These strategies include effectively designed acquisition cost-based pharmacy pricing, HSA-capable coverage, along with reference-based pricing, adequate participant protections against balance billing, participant advocacy and litigation support.”
As your partner, aequum is here to help lower costs and support your plan’s member experience and success in 2022 and beyond. Please contact us if you have any questions or need for support. For more information, visit https://aequumhealth.com.