How affordable is mental healthcare? The long-term impact on financial health

How affordable is mental healthcare? The long-term impact on financial health

Exploring the affordability of mental healthcare, we delve into its long-term implications on financial health. Unraveling the intricate relationship between mental well-being and economic stability, we shed light on a topic often overlooked in financial discussions.

Since the start of the COVID-19 pandemic, mental health has declined for many Americans, with more individuals reporting mental illness since 2019

Those diagnosed with mental illness have disproportionately faced economic disadvantages and report greater financial stress

Mental Health Services

Respondents overall (including both those with and without a mental illness) report mental health services as one of the least affordable essential services.

Untreated mental health conditions can impact people’s ability to pursue education

Nearly 9 in ten employees report that workplace stress affects their mental health, and nearly 3 in 5 employees feel their employer does not provide a safe environment for employees who live with mental illness

Financial security

Those with mental illness report a lower sense of financial security than those without mental illness

About the Author(s)

Erica Coe is a partner in McKinsey’s Atlanta office, and Kana Enomoto is a senior knowledge expert in the Washington, DC, office.

This association may arise from initial debt leading to stress and triggering an underlying susceptibility for mental illness

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