Mental health company Talkspace has inked a contract with a government-sponsored insurance plan to offer in-network therapy to active duty military, retirees and their families, marking the company’s latest agreement with a public health insurance plan.
The Upper West Side-based company announced Monday that it will provide in-network mental health services to people enrolled in Humana Military, a health plan that administers the federal program that insures members of the military and their families, called Tricare East. The plan enrolls 6 million individuals who live across 32 states in the eastern U.S., according to Talkspace.
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The contract terms offer in-network telehealth appointments, therapy sessions for couples and teens, and text-based mental health sessions to military members, their partners and teen dependents. They will be able to access care at a co-pay ranging from zero to $50 per session, said Erin Boyd, chief growth officer at Talkspace.
The deal marks Talkspace’s most recent attempt to expand its offerings to people enrolled in publicly funded health insurance plans. The company, which brought in $150 million in revenue last year, began offering in-network virtual therapy sessions to Medicare enrollees in May, opening up low-cost mental health services to 13 million U.S. seniors.
Talkspace decided to expand to military members to fill what it says are gaps in access to care among troops and their families. Nearly a quarter of active-duty military members experience depression, and rates of suicide have increased 40% in recent years, according to Talkspace.
“There’s a great deal of need,” Boyd said in an interview, adding that the company’s offerings are fit for the needs of military members with hectic schedules and unpredictable workdays. Talkspace’s asynchronous mental health services, for example, allow members to connect with a therapist over text rather than during a live call or chat, especially those who are deployed, Boyd noted.
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Talkspace has roughly 6,000 therapists in its network, but clinicians need a special certification to serve people enrolled in Tricare, Boyd said. She did not provide a specific percentage of Talkspace providers who were certified to treat military members, but said a sizable subset of the company’s therapists were cleared.
The company is continuing to expand its network, and is planning to offer in-network services to Tricare West in the coming months, Boyd said.
This story first appeared in Crain's New York Business.
