BusinessWire

Talkspace Expands Affordable Mental Health Care Offering for 40 Million Americans via Insurance Coverage

New campaign featuring Michael Phelps highlights that Talkspace now covers 1 in 8 Americans through agreements with the nation's leading health insurers

NEW YORK--(BUSINESS WIRE)--Talkspace, the global leader in digital behavioral health, is now covered by insurance for over 40 million Americans. The new campaign, in partnership with ambassador Michael Phelps, was created with the goal of promoting access to affordable mental health services on the HIPAA-compliant web and mobile platform. Currently, Talkspace is covered by the nation's largest health insurers, including Cigna, Optum, Premera Blue Cross Blue Shield, and Humana. Talkspace also offers coverage plans directly through employers, educational institutions and other large member organizations.


Like most areas of health care, affordability is a major barrier to engagement. In a recent national survey of U.S. adults, 18-49, conducted by Talkspace and Qualtrics, 60% of Americans thought that their insurance covered in-person mental health therapy services. However, for telemedicine, that figure fell to 20%. The lack of awareness around insurance coverage is preventing thousands from seeking health care services at a time where mental distress among Americans has tripled as a result of the pandemic.

“We are living in the worst mental health crisis of our lifetime, where we experience political, social, and financial stressors daily,” says Oren Frank, founder and CEO. “People need same-day access to care right now, and our hope with this campaign is to educate the public around the options available to them for more affordable mental health care.”

Historically, clinical treatment for mental health conditions has been out of reach for many due to the low number of in-network options. In the recent survey by Talkspace and Qualtrics, respondents cited cost and lack of insurance coverage as two of the top three barriers to starting therapy. In expanding insurer partnerships over the last year, and now with the help of Michael Phelps in this new campaign, Talkspace is continuing its goal of eliminating three core barriers to care: cost, access, and stigma.

“I know how challenging it can be to ask for help and I want to encourage others who may be dealing with mental health challenges that access to help is much easier and more affordable now,” says Talkspace ambassador Michael Phelps. “Eliminating barriers to therapy is an important step and I’m excited to share that Talkspace online therapy now covers 40 million people through their health insurance or employer.”

COVID-19 has eliminated the option to engage in in-person therapy for many, and telemedicine has emerged as a safe solution for both patients and providers. To further telemedicine’s adoption, insurance companies are rallying behind digital services that can be accessed from the convenience and safety of one’s home. This comes at a crucial time, particularly as the long-lasting mental health effects of the pandemic begin to set in, likely far outlasting the physical symptoms that hundreds of thousands are tragically suffering from. A recent study found more than half of people who received hospital treatment for COVID-19 to be suffering from a psychiatric disorder a month later. Access to licensed professionals at any time, from anywhere, has never been more essential.

Since the onset of the pandemic in mid-March, the Talkspace user base has more than doubled year over year. In this time of collective uncertainty, anxiety, and fear, Talkspace is providing a critical service -- and going above and beyond to make sure those who need mental health care the most can afford it.

Visit https://www.talkspace.com/insurance to see if your employer or insurer qualifies.

About Talkspace

Talkspace is a digital platform that connects thousands of licensed therapists and psychiatrists with people seeking mental healthcare. As a digital healthcare company, all care is delivered through an easy-to-use and HIPAA-compliant web and mobile platform. Today, the need for therapy feels more urgent than ever, and when seeking treatment, whether it's psychiatric, adolescent, or couples therapy, Talkspace has treatment options for almost every need. With Talkspace, clients can send their dedicated therapists text, video, and voice messages anytime, from anywhere, and engage in live video sessions. To date, over 2 million people have used the service, and over 40 million lives are covered for Talkspace through insurance.


Contacts

Moxie Communications Group
Melanie Galang
Talkspace@moxiegrouppr.com