CALI has joined a national coalition of experts and industry groups calling on the Federal Government to take urgent action over the impact of rising cases of mental health, and its impact on people, companies, and the economy.
In an open letter to Treasurer Jim Chalmers the group warned that untreated mental ill-health is holding Australia back and costing the economy up to $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.
“Even more concerning is the outlook for future generations. Two in five young Australians are affected by mental health challenges, and we’ve seen a 732 per cent increase in claim rates among people in their 30s permanently leaving the workforce due to mental ill-health.”
The open letter’s three calls to action are:
- National targets to drive a coordinated approach across Government
- Allowing the public and private systems to treat people earlier
- Boosting the workforce to address shortages
Cupitt said the Treasurer and participants in the Economic Reform Roundtable can’t ignore the impact mental ill-health is having on the nation’s productivity.
“We need the Government to lead a collective effort, one backed by industry, clinicians, and the community, to strengthen the safety net and support Australians when they need it most.”
