Talkspace Now In-Network Nationally for 9.5 Million Military Personnel and their Families, Making Mental Health Care More Accessible than Ever

Rhea-AI Summary

Talkspace (NASDAQ: TALK) has expanded its mental health services to approximately 9.5 million active duty and retired military personnel and their families through TRICARE East and West region partnerships. The service provides virtual therapy and psychiatric services, making mental healthcare more accessible to military communities nationwide.

Statistics show that 23% of active-duty service members experience depression, with military suicide rates increasing by over 40% in recent years. Additionally, 92% of military spouses report increased stress during deployments, while 85% experience anxiety or depression.

The company has partnered with Military Brands and MyBaseGuide to reach over 3 million military families across 219 bases. Talkspace will also be a founding member of MilSpouses.com, a new community platform for military spouses. The service offers flexible therapy options, including live sessions, text-based therapy, teen (13+) and couples therapy, as well as psychiatry and medication support for adults (18+).

NEW YORK, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Talkspace (NASDAQ: TALK), a leading online behavioral health company, is now available to approximately 9.5 million active duty and retired military personnel and their dependents as an in-network benefit through partnerships with TRICARE East and West region contractors. Eligible beneficiaries, including partners and teen dependents (13+), can now receive therapy from a licensed clinician or psychiatric services (for those 18+) from a Board-certified psychiatrist or psychiatric nurse practitioner–all virtually and privately.

Depression affects 23% of active-duty service members, with rates of suicide increasing by more than 40% in recent years. A survey of military spouses found that 92% reported feeling increased stress levels during a spouse’s deployment while 85% said they felt anxious or depressed.

“From deployments, the current geopolitical landscape, not to mention the daily stressors that affect families, many active-duty and reservist military service members and their dependents need support. It’s vitally important that they can access high-quality mental health treatment affordably, privately and conveniently,” said Erin Boyd, Talkspace’s Chief Growth Officer.

“With coverage across the U.S. from both TRICARE East and West region contractors, we are removing barriers such as cost and geographical constraints that may have historically prevented military families from getting support and making it our mission to meet them where they are, as it’s an honor to serve those who have served us.”

As part of the rollout of in-network coverage nationally, Talkspace will kick off a robust partnership with Military Brands, owner of MyBaseGuide, a thorough digital resource for all active-duty military personnel, civilians, and their families who live and work on a military base within the United States. They will assist in communicating this coverage to over 3 million military families across 219 bases. Additionally, Talkspace will be a founding member of MilSpouses.com, Military Brand’s newest resource for the military. This website offers a new community for military spouses to connect and is expected to launch this month.

“Military spouses often suffer in silence, juggling a disproportionate share of parenting and household duties all while maintaining balance and stability. To add, many spouses struggle to find the childcare necessary to provide them with a level of privacy for a mental health appointment. Being able to send a text or have a virtual appointment in the privacy of one's home will make a real difference for our community,” said Suzanne McCurdy, Vice President of Military Brands, Veteran, and Military Spouse.

Talkspace provides access to licensed therapists across all 50 states and provides beneficiaries with the ability to choose between, or seamlessly combine, live and asynchronous (e.g. texting) therapy modalities, including teen (13+) and couples therapy, allowing users the flexibility to meet the unique needs of their busy lives, lowering the barrier to care, and maximizing engagement. In addition to therapy, Talkspace offers psychiatry and medication support (18+ only), administered by live video sessions.

About Talkspace
Talkspace (NASDAQ: TALK) is a leading virtual behavioral healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Talkspace, we believe that mental healthcare is core to overall health and should be available to everyone.

Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services, including therapy for individuals, teens, and couples, as well as psychiatric treatment and medication management (18+). With Talkspace’s core therapy offerings, members are matched with one of thousands of licensed therapists within days and can engage in live video, audio, or chat sessions, and/or unlimited asynchronous text messaging sessions.

All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal, and state regulatory requirements. More than 158 million Americans have access to Talkspace through their health insurance plans, employee assistance programs, our partnerships with leading healthcare companies, or as a free benefit through their employer, school, or government agency.

For more information, visit www.talkspace.com.

CONTACT: John Kim | jkim@skdknick.com

FAQ

How many military personnel and families now have access to Talkspace (TALK) through TRICARE?

Approximately 9.5 million active duty and retired military personnel and their dependents now have access to Talkspace through TRICARE East and West region contractors.

What mental health services does Talkspace (TALK) offer to military families?

Talkspace offers virtual therapy for ages 13+, psychiatric services for adults 18+, couples therapy, and both live and text-based therapy options. Services are provided by licensed clinicians and Board-certified psychiatrists or psychiatric nurse practitioners.

What percentage of military spouses experience stress during deployments according to Talkspace's data?

According to the survey mentioned in Talkspace's announcement, 92% of military spouses reported increased stress levels during a spouse's deployment.

How many military bases will Talkspace (TALK) serve through its partnership with MyBaseGuide?

Through its partnership with MyBaseGuide, Talkspace will serve military families across 219 bases, reaching over 3 million military families.

What is the current depression rate among active-duty service members according to Talkspace?

According to the announcement, depression affects 23% of active-duty service members, with suicide rates increasing by more than 40% in recent years.