Explore the Ways You Can Pay for Your Addiction Treatment Today
Many people know that they need assistance with a life that is dependent on drugs and alcohol to function. Addiction treatment is a necessity for many who struggle with addiction and need some help to stay sober. Unfortunately, many people do not know how to pay for rehab and try to brave this new world of sobriety completely on their own.
The good news is that there is a better way and that there are numerous ways to pay for treatment.
Pathfinders Recovery Center can help you determine the best ways to pay for rehab in your situation. From cash payments to financing options, you have plenty of choices for how to pay for rehab. Consult with us today to verify your insurance or talk about your treatment options with one of our professionals so that you can jumpstart your sobriety with addiction treatment.
Pay with Cash for a Simple Transition
If you have the money in your savings account to cover the cost of your addiction treatment, this can be a beneficial move. It allows you to rest easy knowing that your inpatient and outpatient treatment are taken care of. Of course, this can really put a dent in your financial security when you emerge from your treatment centers.
Sometimes, a facility may even offer a discount for those who intend to pay the full price of services upfront.
While it can be financially challenging, many people choose to pay for rehab in cash. This is especially true for those who are without insurance coverage. Substance abuse treatment can take a number of different forms and paying out of pocket allows you to access whatever level of treatment you truly need.
Saving Money on a Cash Pay Program
Paying in cash certainly simplifies the experience of entering into rehab, but not everyone has the funds available to pursue this course of action. Instead, you might search for ways to receive mental health services without the sticker shock of residential treatment. Fortunately, there are a few solutions that our mental health services administration can help you uncover.
The first is to inquire about a sliding fee scale. Low-income individuals who are paying for the cost of treatment directly out of their savings may qualify for a discount. Larger facilities tend to offer more in the way of discounted services than smaller facilities.
Be prepared to prove that your income is truly as low as you say that it is to qualify for a sliding fee scale. You might be asked to provide paystubs, bank statements, and to fill out a detailed form regarding your monthly expenses.
Depending on your financial situation, you might even qualify for completely subsidized treatment. This can be offered through grants, charitable donations, and other forms of bringing in revenue for the treatment centers.
Raising Money to Cover Substance Abuse Treatment
While it can be appealing to pay cash for addiction treatment, this is out of the realm of possibility for many people. Creative thinking may show you a few newer ways that you start to fund your healthcare expenses with the help of family and friends.
Many people who care about you and have noticed your substance abuse issues may be inclined to help out. You can easily collect donations from friends, family, and even complete strangers with the help of crowdfunding sites like GoFundMe. This allows people to make secure donations toward your treatment without the need for you to facilitate the transfer of money.
Of course, there is always the option to cover mental health treatment with a personal loan. A well-off friend or family member may be willing to help you pay for rehab in the short-term. You could take out a no-interest loan from friends and family members to kickstart your inpatient treatment or outpatient treatment.
While a GoFundMe does not need to be repaid, this loan may cause you some headache upon discharge when you have an extra bill to pay back. Consider whether this will leave you too stressed or strapped for cash upon discharge when you will already have a difficult time readjusting to life outside of treatment centers.
Using Health Insurance to Cover the Cost of Treatment
Perhaps the first and easiest way to pay for your drug or alcohol rehab is to utilize the health insurance that you already have, either through your employer or the Affordable Care Act. Many plans permit for mental health treatment including routine therapy, psychiatry, and even rehab treatment.
The good news is that due to the Affordable Care Act, all substance abuse treatment is listed as an essential benefit. However, this does not mean that the entire cost of treatment will fall under the purview of your insurance coverage. Some people may still have an out-of-pocket cost for these types of mental health services.
If you think that you may need mental health services to conquer your addiction, it can be beneficial to sign up for a health insurance plan under the Health Insurance Marketplace during open enrollment at the end of the year. Of course, employer-sponsored insurance coverage may also help to foot the bill for your addiction treatment.
To maximize your health insurance, make sure that you choose a provider who is considered in-network with your coverage. This means that they have an agreed-upon rate with the insurance company to help cover your treatment. Oftentimes, this is a lower rate than what you may see with self-pay.
Understanding What Health Insurance Covers
There are quite a few numbers that you need to look at when considering what your health insurance will offer. Under the Affordable Care Act, treatment must be covered but there are some fees that you may be expected to pay. Co-pays, deductibles, and out-of-pocket maximums are all charges you should consider when tallying up the final cost.
Co-pays are the often-nominal fee that you will pay when receiving treatment of any kind. You may be familiar with this from visiting the doctor, where each visit may cost you anywhere from $10 to $60 or more. Your co-pay is a set figure for all in-network providers, but it will vary from plan to plan.
Similarly, your deductible varies depending on your health insurance plan. This is the amount that you must spend on healthcare expenses before your insurance starts to kick in. Once you have reached your deductible, your insurance may cover a percentage or all of your subsequent treatment.
Last but not least, your out-of-pocket maximum details the maximum that you will be asked to pay during the course of a year. Entering into addiction treatment at an expensive facility may help you to meet this maximum. Once you spend this amount, health insurance will cover the remainder of the cost for covered services.
Pathfinders Recovery Center can help you figure out whether the cost of your addiction treatment will be covered by your insurance before you make a commitment to our program. All you have to do is give us a call and we will walk you through what insurance will and will not cover at our treatment centers.
Getting Low-Cost or Free Health Insurance Coverage
Low-income individuals may want to consider whether they qualify for Medicare or Medicaid to help subsidize the cost of their addiction treatment. These government-run benefits are a great way to get into the treatment center that suits your needs and start to tackle a substance abuse issue.
Medicare is a bit more challenging to qualify for, but it has great benefits. It is typically reserved for individuals over the age of 65 and younger people who may struggle with a disability.
Alternatively, Medicaid is based solely on your income and financial situation. People who are considered low income typically qualify for Medicaid, though the requirements will vary from state to state. Be sure to look into the guidelines and how much you can make to see if you qualify for coverage through Medicaid.
Of course, there are also health care subsidies to consider when applying through the Health Insurance Marketplace. Enter your income and the number of dependents that you have to see if you qualify for help to offset the cost of your health insurance. This is money that does not need to be paid back to the government and can make accessing top treatment facilities for substance abuse even easier.
Financing Options to Cover Addiction Treatment Expenses
When health insurance will not cover the full cost of your treatment and you have no cash reserves to help, you might need financing. There are a couple of different ways you may be able to approach this when it comes to paying the treatment center.
Personal Loans for STraightforward Financing
The first is perhaps the most obvious and simple: taking out a personal loan.
A personal loan can be issued from a bank or other financial institution. It will come with an interest rate so that the issuer can make money on the loan. Depending on your credit score and the amount that you took out, you might pay a much higher interest rate. It can take years to pay this down.
In-House Financing Options for Lower Interest
On the other hand, a rehab facility may have financing options in-house. They allow you to set up payment plans to cover the cost of your substance abuse treatment. Oftentimes, these plans come with no interest or a very nominal fee. Unlike personal loans secured through a bank, these tend to be more cost-effective.
Credit Card Payments for Short-Term Benefits
Last but not least, you may choose to cover addiction treatment with a credit card. This is likely to have the highest interest rate of all of the options discussed here. However, it does allow you to potentially collect rewards points on the cost of your care. This is a financially savvy move if you know that you can pay down the credit card quickly.
If you have a new credit card that permits for a 0 percent interest rate for the first 18 months or so, you might have a great means of paying for rehab if you can pay it off before interest accrues.
Be aware that credit card debt can often snowball. Those who are unsure whether they can pay it off quickly (making more than the minimum payment) might find that they are buried beneath debt for years to come. This can make it more difficult to focus on treatment services if you are worried about how you will pay for rehab in the end.
Grants from Federal and State Organizations
One other creative way that you may be able to fund the cost of your addiction treatment is via grants from the state or federal government. These are often made available for those who know how to ask for them. If you are having a hard time covering the initial cost of your rehab, then be sure to ask the billing department about available grants.
You may have to fill out an application to be considered for some of these grants, but they can be extremely beneficial. Grants do not have to be repaid following your addiction treatment, making your care instantly more affordable. This is essentially free money available to those who know to ask or apply for grants.
The best part is that many of these grants are non-competitive. That means that you can gain access to them as long as you demonstrate a need for assistance with your finances or your substance use disorder. Contact mental health services administration centers at the facilities of your choosing to determine if you qualify.
Weigh the Pros and Cons of Treatment Levels
Within the best treatment facilities, you often have a choice regarding what level of service you need. Residential treatment or inpatient treatment tends to be the most expensive. This is because you are under 24/7 care with access to medical staff and mental health services as needed.
Inpatient rehab is the gold standard of treatment, especially in the early days. It can help you with medical detox and keep you sober without the temptation to use. However, it is not the only way that you can receive treatment. If you need some support, outpatient can be a more cost-effective way to get the help you need at a lower cost.
Partial Hospitalization Programs for Intermediate Substance Use
There are several levels of outpatient treatment that you might choose to pursue. Partial hospitalization (PHP) is the first where you will spend all day at the facility and head home to sleep in your own bed at night.
It is a step-down service that can help you navigate the transition between inpatient and outpatient smoothly. However, some people navigate directly to this level of care instead of a residential facility.
Intensive Outpatient for Lower Costs
Intensive outpatient (IOP) is perfect for those with intermediate substance use issues where you may spend anywhere from 9 to 20 hours in a treatment center. As a result of fewer hours spent at the rehab treatment facility, you will find that it is less expensive.
Even within these two treatment services, you may find that insurance will help to foot the bill. Make the best use of your coverage and take advantage of all the services that are available to you to treat substance abuse. You may choose to start with residential treatment and then step down into PHP or IOP for your addiction treatment.
Get Help with How to Pay for Rehab with Flexible Options
Are you convinced that you need to go to a drug or alcohol rehab but are unsure how you will pay for it? Pathfinders Recovery Center makes it easy for you to connect with the resources in your community at a price that you can afford. From grants to financing to self-pay, we offer you the help you need to get started with the treatment that will change your life for the better.
Reach out to us today to verify your insurance benefits with our addiction and mental health services administration team. Learn more from our team of financial experts about how we can help you afford the ability to seek treatment today!
