- In the past five years, Manulife (TSX:MFC) has seen a spike in adult ADHD medication claims, and new data suggests the trend isn’t slowing
- From 2021 to 2022 the number of unique claimants for ADHD medication coming from those ages 18 and older, grew by 24.5 per cent
- When left untreated, ADHD can present alongside other mental health conditions such as depression and anxiety
- Manulife Financial Corp. last traded at C$26.16 per share
In the past five years, Manulife (TSX:MFC) has seen a spike in adult ADHD medication claims, and new data suggests the trend isn’t slowing.
According to Manulife’s latest Special Report on Employee Health Insights, from 2021 to 2022 the number of unique claimants for ADHD medication coming from those ages 18 and older, grew by 24.5 per cent. This is compared with an average claimant growth rate of 15.3 per cent from 2017-2021.
The Manulife report investigates the potential reasons for the uptick in diagnoses. According to the report, one of the primary factors is an increase in overall awareness about ADHD. As doctors become better equipped to recognize the signs and symptoms of ADHD in adulthood, they can better differentiate it from other conditions.
According to the Canadian ADHD Resource Alliance, ADHD is one of the most common neurodevelopmental disorders in Canada, affecting 4 per cent to 6 per cent of adults and 5 per cent to 7 per cent of children, or 1.8 million Canadians. In 2022, the diagnosis ratio for ADHD was 53 per cent male to 47 per cent female. This is compared with five years ago, when it was 60 per cent male and 40 per cent female.
When left untreated, ADHD can present alongside other mental health conditions such as depression and anxiety.
“Increasing claims related to mental health concerns can indicate overall worsening mental health and increased prevalence of mental health diagnoses,” Manulife’s medical director of group benefits, Dr. Steve Pomedli, said in a news release. “But the increase we’re seeing in ADHD, especially in the adult population, can also suggest improved awareness of this disorder and that more individuals are accessing needed services. In the long run, this can be seen as positive as individuals take proactive steps to improve their health and well-being.”
Manulife reported earlier this year that an average of 48 days per employee were lost in 2022 because of health‑related absences and presenteeism (when employees work while dealing with illnesses, injuries or other conditions that lead to less efficiency and productivity).
Manulife Financial Corp. is a Canada-based international financial services company that provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions.
Manulife Financial Corp. last traded at C$26.16 per share.
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