Experts suggests insurance providers cover mental health

Health insurance providers who do not currently offer coverage for mental health challenges are being urged to do so as the COVID-19 pandemic continues to take a toll on residents and is expected to result in an increase in depression and anxiety.

In a panel discussion on Tuesday which examined The Impact of the COVID-19 Pandemic in Barbados, looking at the health, economic and social impact, officials raised concern that as some mental health issues come to the forefront as a result of the pandemic, they may not be covered by insurance providers. While some insurance companies in Barbados currently offer various levels of mental health coverage, others do not.

The matter was raised during the Barbados Association of Insurance and Financial Advisors (BARAIFA) webinar that heard from speakers, President of the Barbados Association of Medical Practitioners (BAMP) Dr Lynda Williams, social analyst Elbert Ellis and business management specialist Peter Blackman.

Williams said “Having had health insurance prior to the COVID-19 pandemic helped quite a few people. If they have care needs  that needed to go on during the pandemic, they were able to rely on having that insurance.

“What my concern is going forward though is that if we start to have a lot people who are suffering from anxiety and depression, whether underwriters would cover that, if they will include that, because it is going to be a pandemic of its own. I think it is very important that generalised anxiety and depression be covered.”

Also insisting on a new national model for the funding of healthcare to help in this regard, Williams said “I don’t think we can just simply rely on the way things were in the past. We have to look in terms of whether or not we contribute to a national type of public insurance scheme and how that would impact the private insurance.”

Dr Williams reported that mental health was one area that immediately started to feel the effects of the lockdowns caused by the pandemic, noting that this was compounded by the volcanic eruption and ash fall and the freak storm last year.

“We had anxiety, people who had pre-existing depression were known to have become more depressed and people who were on the borderline of anxiety and depression went on to show the effects. Then we had the long-term effects of anxiety and stress on the body, which can worsen your diabetes, raise your blood pressure . . . then there were, in several countries, an increase in psychological, sexual and physical abuse . . . along with an increase in substance abuse,” she said.

Blackman called on insurance providers to “look critically” at what is currently covered under the various life and health insurance plans.

“Some of what we are experiencing under COVID may not necessarily be covered and this could, going forward, present an opportunity possibly to look at new insurance products or to reshape some of the existing products to more meaningfully cater to some of the ailments and chronic conditions that will emerge out of the pandemic.”

He also said the need for a national insurance scheme “or some other variant” should also be examined.

Agreeing with the suggestions, Ellis said “Given the depression, the anxiety and all the different ailments and so on, there needs to be some discourse as to what can be taken on board and what can be covered and the pricing for taking on those additional risks.

“This is a new normal. It cannot be business as usual. The traditional products that have been offered, I am sure they are under review or under discussion, so I would want you to locate it within the changing nature of the pandemic,” he said.

Adding that the pandemic will be “going on for a very long time”, Ellis said he was also concerned about the impact that new variants and another health crises could have on people’s ability to access health are.

“The insurance industry has to be responsive in that regard,” he said.

President of the General Insurance Association of Barbados (GAIB) Randy Graham told Barbados TODAY he was aware some companies did not provide coverage for psychiatric reviews and evaluations.

“Some give you options whether you want to speak to a psychologist in Barbados or overseas. So it depends on the company that you use. There are some companies that already offer that cover. I would have to say to the public, choose your provider wisely. There is availability for that cover that if you get these knock-on issues of anxiety and so on from COVID, that people will cover you,” said Graham.
marlonmadden@barbadostoday.bb