How Will I Pay for My Addiction Treatment?
When you lack insurance and sufficient funds to pay for drug addiction treatment, you don’t enter rehab. And, that has been the situation facing addicts for decades. Rather than enter a comprehensive program that used multiple interventions in conjunction to aid recovery, people had to cobble together low-cost elements to create their own plans. One might finance a short-term detox and hope that support groups would provide the needed support and motivation to maintain sobriety.
Unfortunately, changes in the political climate and unstable funding sources have meant halfway houses and inpatient programs were simply unavailable to people without sufficient insurance or income. These people had to fend for themselves. Further, additional services that worked with rehabs to support long-term recovery weren’t yet fixed. This combination of circumstances resulted in many, many relapses. In addition, people who could have established a stable recovery in a rehab setting often found themselves in the prison system, which is ill-equipped to properly treat addiction.
Decades of this cycle have created a fear of rehab costs that prevents people from seeking the help that they need. In a system of financial haves and have-nots, it can be too easy to decide you are a have not, rather than research your options. Not only are there rehabs that fall on a wide spectrum of prices, there are multiple payment methods available. To learn more about affordable rehab options, call 888-805-3559. You can work with an expert to determine what you are looking for in a program and they can recommend facilities that match your needs.
Do You Have Insurance?
Many people remain uninsured, but the number has of uninsured Americans is at the lowest rate in history, so insurance is worth discussing.
Thanks to the Mental Health Parity and Addiction Equity Act of 2008, insurers must provide the same level of care for substance abuse treatment and mental health services that they provide for any other health issue. People who receive insurance through the Affordable Care Act’s marketplace also have guaranteed coverage for substance abuse treatment because it is one of ten essential benefits that must be provided by these plans.
If you have some form of insurance, you likely have some form of coverage for drug addiction treatment. You simply need to investigate your policy. Call your insurer’s customer service line and speak with a representative. Ask what level of coverage your policy provides, and ask about any coinsurance, copay, or deductible amounts you are responsible for before the insurance takes effect. This will prepare you for the portion of the costs you must pay. When you are looking at potential rehab programs, check whether or not they accept your insurance.
Can You Pay Out of Pocket?
If you don’t have insurance or you are underinsured, you may have to foot part of the bill. The most obvious way to cover the costs of rehab would be to pay them yourself. It’s unlikely that you have the money on hand. If you do, then you have this covered. If not, you have to turn to your assets. Do you have a savings account you can dip into? Retirement savings you can cash out? Property or possessions that could be sold? This is a good time to speak with a financial advisor.
Can You Get a Loan?
There are two types of loan that can work here: bank loans and personal loans. Each has its own distinct obstacles.
If you are looking for a bank loan, you have to demonstrate that you are reliable and that your loan is a good investment on the part of the bank. That can be hard to do when you have a drug addiction. If you have a good credit history and a stable source of income, you may be OK. Be sure to look for a loan with the lowest possible interest rate and the kindest repayment terms. You will be glad you did when the time to pay it back comes.
If you are looking for a personal loan, you also have to show that you are a good investment. This can be quite difficult as most people isolate themselves and lie to those close to them when they are using drugs. That fractures a relationship and you have to have a bond of trust to give another person your money. However, you can increase the chances of getting a personal loan by asking the person providing the money to pay it directly to the rehab. This shows that you do intend to go and that you are using the money for your recovery.
Can You Run a Campaign?
It is becoming more and more common for people to crowdfund when they face insurmountable health care costs. This may be a great option for you. You can use one of many internet platforms and create a campaign. Or, you can ask someone close to you to manage it all so that the money is used responsibly and you aren’t tempted to make a poor choice. This form of fundraising lets people donate and amount they feel comfortable with and small amounts build up to large ones when multiplied by many backers. Reach out to everyone you can think of. It will mean being public and open about your need for rehab, but that honesty will help you finance your recovery.
Can You Get Financing from the Rehab Facility?
One option is to get financing through the drug addiction treatment program. Much like using a credit card, you can get the price of rehab covered upfront and you agree to pay it back in monthly increments. As with a bank loan, you need to look for the lowest interest rate, ask about service fees, and look for a plan with a grace period. Many financing options will give you a period after you complete treatment to get on your feet before you begin repaying.
To learn more about financing programs and rehabs that offer them, call 888-805-3559. You can also ask about free and low-cost options. There is no reason that you can’t afford rehab.