Mental Health Claims up 75% Since 2019

NEW YORK, Sept. 23, 2022 /PRNewswire/ --  Canadian health insurers processed nearly $600 million in mental health service claims in 2021, up 75% from 2019 as more Canadians tapped into their mental health benefits. According to the Canadian Life and Health Insurance Association (CLHIA) president and CEO, 2021 was a year of recovery, making mental health support increasingly important. Despite rising demand for mental health care, only 19% of companies in Canada increased their maximum coverage for mental health last year. Luckily, that seems to be changing with several employers beginning to expand their offerings. At the same time, increased awareness surrounding mental wellness is creating an opportunity for companies like Numinus Wellness (TSX:NUMI) (OTCQX:NUMIF), HCA Healthcare (NYSE:HCA), Sage Therapeutics (NASDAQ:SAGE), LifeStance Health Group (NASDAQ:LFST), and Acadia Healthcare (NASDAQ:ACHC) to shine.