With almost 220 vendors, the mental health category is among the most diverse and rapidly growing benefit segments.
Existing vendors are increasingly expanding their portfolios, venturing into adjacent markets, and exploring opportunities to innovate and diversify their offerings.
To broaden access to care, Cigna’s Evernorth Health Services is introducing a new behavioral health practice with a plan for nationwide availability by early 2025. Evernorth’s behavioral health solutions provide personalized, proactive care by integrating advanced data across medical, pharmacy, and behavioral health services.
Virtual therapy provider Talkspace uses advanced data integration to strengthen personalized mental health care. In 2024, Talkspace has also expanded access through strategic collaborations with organizations like Bicycle Health, Medicare, and Wellbeing at Work.
Similarly, industry leader Spring Health is partnering with Highmark Health to increase mental health access by 40%. Spring Health’s platform creates care plans based on individual data, guiding employees to appropriate services like coaching, therapy, or medication.
TELUS Health also stands out in the behavioral health field as it provides best-in-class tools for care, as well as 24/7 support and resources for managing stress, anxiety, or other challenges.
Increasingly, more behavioral health companies are venturing into underserved markets by providing targeted support for substance use and other addictions. ALAViDA Substance Use, a product of LifeSpeak Inc., provides evidence-based therapeutic approaches to substance use, while Pelago’s virtual clinic provides support for various addictions, including tobacco and alcohol.
Modern Health has partnered with Charlie Health and Equip to expand its mental wellness platform. The addition of virtual intensive outpatient and eating disorder programs complements its already extensive app, which combines therapy, coaching, and digital resources to support employees worldwide.
Aside from these vendors, there are a number of other companies in the space that are positioned for growth, including BetterHelp, Headspace, and Lyra Health.