But How Will I Pay For It? – 4 Ways to Pay for Therapy
One of the biggest barriers to people seeking therapists and actually continuing to see their therapist is the cost! While the initial sticker shock can be off-putting for some, it is important to note that there are a couple of different ways to pay for therapy. Here, I’ll discuss some of the most common ways people pay for services.
At the end of the day, we all choose to invest our money into things that are important to us – whether that be going out to eat every weekend, gym memberships, getting our hair or nails done, paying off debt, or going to therapy. With a few adjustments to your budget, you can incorporate therapy into your budget without having to sacrifice your basic human needs. For example, if you eat out one less meal a week (or one week of not eating out at all), that may be enough money to cover your copay for therapy! If you truly want to invest in your mental health, there are ways to make it happen! Where there is a will there is a way!
1. Health Insurance –Many health insurance plans cover mental health or behavioral health services. Call your health insurance company and ask them if you have any mental health coverage, if you will have to meet your deductible first, if there will be a copay and if you need a referral to a therapist to be covered. Even if you have a therapist in mind who does not accept your insurance, many insurance companies are willing to reimburse you for expenses paid to “out of network providers”. Call your health insurance to verify what exactly they’ll cover and then head to your insurance companies directory to begin your search for a therapist! Click here to learn more about choosing the right therapist for you.
2. HSA/FSA – Health Savings Accounts and Flexible Spending Accounts! These are things that many millennials (myself included) don’t pay much attention to when they start a new job and go through the benefits package. These are accounts that many employers offer as part of their benefits, in which you can set up a predetermined amount of your pre-tax dollars to go towards the account each pay period. These accounts cover any out of pocket health expenses- like therapy! They are usually on a debit card which you can only utilize at health-care facilities. Many people don’t realize that therapy is a qualified expense for HSA/FSA accounts. If you already have an account, you can swipe that card at most therapy offices. If you don’t have one and are really considering therapy, during the next open enrollment, look into starting an HSA/FSA account!
3. Sliding Fee Scales – Many therapists offer a sliding fee scale. This means, they offer reduced rates on sessions, depending on a certain criteria (usually income and/or household size). When on your search for a therapist, look for those magic words. When having a consultation with the therapist, inquire about the sliding fee scale. Some therapist offer as low as 50 percent lower than their standard rate for those in need. Remember, we as therapists have to pay our bills, but we also are compassionate and caring people by nature and by trade, so there are plenty of us that are willing to help how they can!
4. OpenPath- Speaking of sliding fee scales, consider Open Path Psychotherapy Collective! Open Path is a membership-based program. You pay a one-time lifetime membership fee of about $60, and that gives you access to therapists across the country who offer sliding fee sessions between $30-$60/session. Even if you relocate to a new city in a few years, your lifetime membership allows you to have access to therapists on the platform, as long as there is a need! Therapists on this site are highly qualified clinicians who care about giving back to their communities, which is why they become members and agree to provide their quality services at reduced rates!
What are some creative ways you make therapy a part of your budget?