Leading mental health experts and mental health groups in Australia have joined hands with the country's insurance industry to draw attention to the burgeoning problem of mental health in the country.
In an open letter to the country’s Treasurer Dr Jim Chalmers, the signatories, which include the Council of Australian Life Insurers (CALI), Australians for Mental Health and Mental Health Australia, the group has said that untreated mental ill-health is holding Australia back and costing the economy up to A$220bn each year.
CALI CEO Christine Cupitt said, “Life insurers play an essential role in strengthening Australia’s financial safety net, but by the time someone comes to us, they’ve often exhausted all supports available. They’re really unwell, and it is extremely hard to help them recover and get back to work. As life insurers we see both the personal and economic toll of the mental health crisis every day.”
Australians for Mental Health ED Chris Gambian said, “The Australia Productivity Commission has previously found mental ill-health is an economic drag the federal government cannot ignore. Our economy can only ever be as good as our people.”
Almost one in two Australians will experience a mental health condition in their lifetime, and mental ill-health has been one of the leading causes of temporary and permanent disability for workers under the age of 30, with young people being disproportionately affected by mental health conditions.
The coalition of signatories has urged the federal government to consider how mental ill-health is holding the nation’s productivity back, and to consider the following recommendations:
- Coordinate a whole-of-government response to the mental health crisis, including national mental health targets, to make every department accountable
- Guarantee timely and affordable access to mental health care by boosting funding and training for community-based services
- Bolster education and training within the mental health workforce to combat workforce shortages.
Ms Cupitt said, “Even more concerning is the outlook for future generations. We have seen a 732% increase in claim rates among people in their 30s permanently leaving the workforce due to mental ill-health. This should not be the story of young Australians experiencing mental ill-health.”
She said, “Addressing the mental health crisis could be the single biggest productivity reform Australia can make this decade.”