Survey says 89% of colleges and universities prioritize mental health coverage for students – InsuranceNewsNet

BOSTON, January 30, 2023 (GLOBE NEWSWIRE) — Risk strategiesa national leader in specialty insurance brokerage and risk management, today released the findings of its second annual report Student Health Plan Benchmarking Surveythat show colleges and universities are bolstering their mental health and wellness offerings, as well as overall plan enrollment, and that costs are trending up.

The national leader in student health, Risk Strategies Education, Student health and well-being conducted the survey in the summer of 2022. Requests to participate in the survey were sent to more than 1,000 colleges and universities across the country. The response rate increased by 58% compared to the inaugural survey.

While respondents to last year’s survey indicated that telemedicine for behavioral health was a priority under the student insurance plan, this year’s survey indicated that meeting the mental health needs of all students on campus was a top concern for nearly 90% of institutions. This finding has made mental health a major concern with managing student health plan costs.

Additional key findings include:

• Just under three-quarters (74%) of respondents offer a wellness program, most of which (81%) is available to all students on campus. Of the top four features offered in wellness programs, three were related to mental health, reflecting the national focus on behavioral health.
• The most common per-student annual health plan cost range remained $2,000 to $2,999however this survey showed more schools in all student types with annual costs in the $3,000 – $3,999 range, an indication that costs are rising. The cost of the scheme tends to increase by 4% for undergraduate students, almost as much for graduate students and 5% for international students.
• Student Health Plan enrollment is on the rise, primarily for colleges of all sizes, resulting in an average enrollment increase of 22% to 24%.
• Although colleges and universities have made only minimal changes to plans for 2022, offering voluntary dental and vision plans has become more popular, with dental and vision plans being offered by all three college quarters.

“College and university students have faced unprecedented stressors in recent years,” said Terry Lyons, responsible for national education practice, risk strategies. “It’s reassuring to see these institutions focus on health plan services that can make a real difference to their student population. »

Respondents to this year’s survey were almost evenly split between public and private institutions, with 52% from public colleges and universities and 48% from private. This result is similar to the 2021 survey, where 53% of respondents were from public institutions and 47% from private institutions. The schools that responded this year were slightly larger than in 2021, with public schools having an average of 15,250 students and private schools an average of 6,330.

Additional information about the survey and key findings, including wellness, co-pays, ancillary products, and other key features are here.

About Risk Strategies
Risk Strategies is the 9^e America’s largest private brokerage firm providing comprehensive risk management, insurance and reinsurance placement advice for property and casualty insurance, employee benefits, private client services, as well as advisory and financial and wealth solutions. With more than 30 specialist firms, Risk Strategies serves commercial enterprises, non-profit organizations, public entities and individuals, and has access to all major insurance markets. Risk Strategies has more than 100 offices, including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, dallas, Nashville, washington d.c., Los Angeles and San Francisco. Riskstrategies.com

Media ContactBrittany GouldExecutive Account
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Source: Risk Strategies