January 16, 2025 Newswires

January 21st is National “Check Your Coverage Day”

Business Wire

Leading online therapy provider Talkspace encourages Americans to ensure they are “covered” for mental health services in the new year
Recent survey data reveals that 4 out of 10 insured Americans intend to get therapy in 2025, but even more do not know if their plan covers it

NEW YORK--(BUSINESS WIRE)--
Is online therapy covered by my insurance? What does my insurance plan actually cover? For most Americans, it’s much more than they think. Talkspace (NASDAQ: TALK), a leading online behavioral health company, is kicking off 2025 by launching National “Check Your Coverage Day" on Tuesday, January 21, to help Americans navigate their health insurance benefits and coverage for in-network and affordable mental health services.

A recent survey* by National Today revealed that 41% of insured Americans plan to seek therapy or counseling this year, yet only 15% fully understand the scope of their mental health benefits¹ and 43% remain unsure whether their insurance covers online mental health care. More than ever, Americans are prioritizing mental health along with physical health, yet many still face perceived barriers to care, including cost and access to providers. Talkspace has established “Check Your Coverage Day” to encourage individuals to explore their insurance benefits proactively and understand which mental health services are in-network, whether they would like mental health support today or to be prepared in case they need it later.

“Consistently, the number one reason people don’t get the mental health support they need is because of cost or lack of insurance, and it can be overwhelming to figure out where to start,” said Katelyn Watson, Chief Marketing Officer of Talkspace. “We founded ‘Check Your Coverage Day’ to raise awareness that mental health services are increasingly being covered by health plans, employers, and organizations.”

As Americans step into 2025, mental health challenges such as stress, anxiety, and financial concerns continue to dominate their worries. Survey results indicate that managing stress and anxiety is the top goal for 42%, with financial stress remaining the leading cause of anxiety for many.

“Whether facing unforeseen devastation or navigating ongoing challenges, we want to offer people peace of mind that a licensed therapist at Talkspace is in your corner and more likely than not, it is covered in-network by your insurance,” said Watson.

Talkspace now covers more than 158 million lives through insurance plans including Aetna, Cigna, Optum, TRICARE for military families, and Medicare, with minimal or no copay.

“Check Your Coverage Day” seeks to reduce the number of individuals who forgo therapy due to cost concerns. This consumer education initiative supports Talkspace’s broader mission to make mental health support a seamless and accessible part of everyday life. To learn more about “Check Your Coverage Day”, visit www.nationaltoday.com/national-check-your-coverage-day/ or to find out if Talkspace is an in-network provider with your insurance, visit www.talkspace.com/insurance.

*Survey Methodology

Talkspace/National Today conducted a digital survey which targeted 1,000 health-insured Americans over the age of 18 from December 30, 2024-January 1, 2025. The margin of error is 4% on a 95% confidence interval.

About Talkspace

Talkspace (NASDAQ: TALK) is a leading virtual behavioral healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Talkspace, we believe that mental healthcare is core to overall health and should be available to everyone.

Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services, including therapy for individuals, teens, and couples, as well as psychiatric treatment and medication management (18+). With Talkspace’s core therapy offerings, members are matched with one of thousands of licensed therapists within days and can engage in live video, audio, or chat sessions, and/or unlimited asynchronous text messaging sessions.

All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal, and state regulatory requirements. More than 158 million Americans have access to Talkspace through their health insurance plans, employee assistance programs, our partnerships with leading healthcare companies, or as a free benefit through their employer, school, or government agency.

For more information, visit www.talkspace.com.

______________________

¹ 15.3% of surveyed Americans strongly agree with the statement “I understand what mental health services my insurance plan covers.”