- 03 Nov
How to pay for rehab
One of the biggest barriers for people trying to get help with substance abuse is the financial aspect. Drug rehab is expensive and most people who need help aren’t financially stable. There are free rehabs in most states but they often are filled up and require you to wait on a long list before getting help.
Fortunately with recent legislation getting help paying for rehab is easier than ever. For example in 2008, the Mental Health Parity and Addiction Equity Act was passed. It established legislation that required the insurance industry to provide the same amount of treatment for mental health and substance abuse as they provided for medical and surgical care.
Here are some ways to pay for rehab:
Finance it yourself
Paying for rehab out of your own pocket is a good option if your insurance doesn’t cover all of your rehab costs. Paying for rehab will allow you to avoid external financing that often comes with high interest rates. If you’re unable to pay for rehab yourself you could ask your friends and family for help. Most friends and family will be wary giving an addict money because of the fear that the addict would use the money to fund their addiction. An option to avoid this is to have your friends and family pay the rehab directly.
Bank loans and credit cards are the two most common types of personal loans you could use to pay for rehab. Be careful of high interest rates because with the added cost of interest, the cost of treatment could be much more expensive than you anticipated. Some credit card companies offer health care credit cards with deferred interest specifically for medical related expenses like substance abuse and mental health treatment.
If you choose to obtain a personal loan, choose a loan that has the lowest interest rate you can find with manageable payback terms to help lessen or eliminate your out-of-pocket financial obligation.
Insurance is a great way to pay for rehab. Depending on the type of insurance you have it could cover up to 100% of your rehab expenses.
Private insurance policies (PPO) give you the most coverage allowing you to go to rehabs that are out of network with your insurance company.
HMO insurance policies require you to go to a rehab in network with your insurance provider. Depending on where you are living finding an in-network rehab might be easy or might not.
Not all insurance policies are equal. Some insurances cover more treatment costs than others. You can talk with an insurance specialist to find out which insurance policy will be best for you.
Many drug and alcohol treatment centers offer their own financing to prospective patients.
This can be one of the best options for people entering addiction rehab. Many centers work hard to create finance packages that patients can comfortably pay back once they finish treatment.
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