AIA Australia has introduced My Psychologist, a virtual mental health service designed to improve access to psychological support for its life insurance policyholders and their families.
The program, developed in partnership with Online Psychologists Australia, offers virtual consultations with licensed psychologists and facilitates referrals for Mental Health Care Plans through telehealth-enabled general practitioners when necessary.
The service aims to address widespread challenges in accessing mental health care, including long wait times and high costs.
Through My Psychologist, users with a Mental Health Care Plan can secure an appointment within seven days, with a reduced Medicare-supported out-of-pocket fee of $60.
Mental health has emerged as a leading reason Australians seek medical advice from GPs, yet many face delays of several months to see a psychologist.
According to data, one in five Australians aged 15 to 85 experience mental health issues annually.
Demand for mental health services continues to grow, with 30% of adults seeking support from psychologists, psychiatrists, or counsellors in 2023. However, significant barriers persist, including the closure of books by one-third of psychologists, compared to 1% before the pandemic.
In a broader context, a new survey by YouGov showed growing awareness and demand for mental health coverage in health insurance policies across the Asia-Pacific region.
It revealed that 18% of respondents considered mental health coverage essential when selecting an insurance plan, while 41% deemed it important though not a deciding factor. In Australia, 21% of participants ranked mental health benefits as a priority.
Despite the growing interest, affordability remains a concern, with 52% of respondents citing high premiums as a barrier to accessing comprehensive mental health care. This concern was most pronounced in Australia, where 56% of respondents expressed cost-related reservations.
Mental health-related conditions currently account for 20% of AIA Australia’s life insurance claims, second only to cardiovascular issues. The share of mental health claims has risen significantly over the past decade, increasing from 10% in 2014 to 25% in 2024.
AIA Australia CEO Damien Mu highlighted the importance of My Psychologist within the insurer’s broader health and wellbeing initiatives, known as AIA Embrace.
“In line with our focus on prevention and health promotion, we recognise the significant impact that seeking the right treatment at the earliest opportunity can have on an individual’s overall health,” he said.
He emphasised that timely access to care is vital, and early intervention can significantly improve health outcomes.
“This service will ensure users can access mental health support in a timely manner, providing them with a sense of empowerment and professional care during their mental health journey,” Mu said.
The program will initially be available to members of the superannuation fund HESTA, which serves more than one million Australians working in health and community services.
HESTA chief experience officer Lisa Samuels described the potential benefits for members facing mental health challenges.
“HESTA has more than one million members, many of whom work in the health and community services sector. Due to the demanding nature of their roles, some of these members can often face mental health challenges. This can lead to them taking extended time out of the workforce,” she said.
HESTA’s analysis showed that poor mental health can reduce retirement savings by up to 27%. The superannuation fund partnered with AIA Australia to help connect its members with timely, affordable care.
“Our aim is to better support HESTA members by connecting them with affordable and accessible mental health support, so they can receive help when they need it,” Samuels said.
