Market Insights

How Boston Scientific Is Tackling Mental Health Benefits‍

UPDATED ON
May 31, 2023
Mployer Advisor
Mployer Advisor
— Written By
Print Friendly and PDF

This release from Investor Observer covers the primary ways that medical device company Boston Scientific has chosen to address mental health and wellbeing support for their employees.

First, in order to bridge coverage gaps and clear any hurdles that may be impeding access, company plans will cover additional costs incurred seeking out-of-network services, essentially making them cost the employee no more than an equivalent in-network service.

Promotion of telehealth targeting not just employees but also their families has been another big part of the comprehensive mental health push, as has been the implementation of a fairly wide-ranging Employee Assistance Program (EAP) that include free counseling sessions and digital care platforms that employees can access 24 hours a day, 7 days a week.

Education and information is another big part of Boston Scientific’s approach, which includes webinar and seminar access, as well as a personalized third-party healthcare advocate who can answer questions and help employees navigate through a sometimes seemingly unnavigable healthcare system. 

You can read more about this topic here.

Want more insights on how your employee benefits compare to companies in your region, industry, and similar employer size?
Download Your Custom Benefits Report Now
See How Your Employee Benefits Compare

Next Up

Federal Court Ruling May Put Millions of US Companies In Breach of ERISA Fiduciary Duty
A Texas court ruled that American Airlines breached its ERISA duty of loyalty by failing to properly oversee BlackRock’s ESG-driven investment decisions. The decision could put millions of employers at legal risk if upheld. Are ESG investments in retirement plans now a liability?
The Employment Situation for February 2025
The latest economic release from the Bureau of Labor Statistics reports that the U.S. job market added just under 150 thousand jobs last month while unemployment ticked down one-tenth of a point to 4% to close out the last such economic report with data collected under the Biden administration.
Are Centers of Excellence On the Decline?
Centers of Excellence (COEs) may have peaked. While mid-sized employers increased adoption, the largest companies are scaling back. Is this a temporary dip or a shift in employer healthcare strategy?