Mental health support and complete drug coverage are both central in the new SMARTspend benefits plan by Green Shield Canada.
Although massage therapy coverage has been terminated, the SMARTspend benefits plan is a revolutionary product by Green Shield Canada that will focus on:
- Better support for mental health
- Options for digital mental health support
- 100% coverage with no dollar caps for managed drug formularies
- Coaching by Pharmacists
- Coaching by Dietitians
- Vision care benefits
- Dental care benefits
David Willows, chief innovation and marketing officer for Green Shield Canada, explains that the new SMARTspend benefits plan is a holistic response to cost containment, scientific literature, and outdated standardized plan designs. Older plan designs he says don’t reflect value and haven’t kept up with the increase in chronic diseases, mental health issues, or the impact of expensive drugs.
According to The Canadian Mental Health Association:
- 50% of the population aged 40 or over has had, or currently suffers from mental illness
- In 1998, the costs to treat mental illnesses in Canada was estimated at approximately $7.9 billion
- $4.7 billion of those dollars were spent on care
- $3.2 billion of those dollars were spent on treating disabilities and early death
Sponsors of the SMARTspend benefits plan can also add healthcare spending accounts and additional funds for massages and personal healthcare as options.
The prevalence of mental illness and its toll on the Canadian healthcare system make a compelling case for investing in mental health in Canada.
Still Have Questions?
Let Edmonton’s Benefit Strategies Inc. introduce your company to the new SMARTspend benefits plan by Green Shield Canada. For more information, call our benefits brokers at 1-780-437-5070 or send us an email.