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One of the biggest obstacles to addiction treatment cited by families struggling with the disorder is the bill. Especially after months or years of active addiction, a disorder that can be crippling financially, it is not always easy to scrape together the money to cover the cost of treatment. Even the most bare-bones programs can be too expensive when you have little financial cushion, and the programs that are heavily subsidized and/or free of charge often have incredibly long waiting lists.
The fact is, however, that it is possible with some intentional effort to come up with the money to pay for much needed medical detox and treatment for addiction. In some cases, it is simply a matter of looking at what you have differently, plus taking advantage of the external resources available to you.
Optimum Care
One of the first things to consider when ensuring a positive financial plan for treatment is to make sure that the program in your sights is the one best suited to your loved one’s needs. While it is not necessary to enroll in a luxury residential treatment “spa” in an exotic location, it is also not necessarily the best idea to choose a drug rehab based on low price. The focus should be on the treatment services provided and the specific needs of your loved one. When there is a match, the next consideration should be price. There is no need to spend money on unnecessary or fad treatments, but it would also be a waste of your hard-earned dollars to choose a program that is not sufficient to meet your loved one’s needs.
One of the best ways to ensure that you are matching your loved one to an appropriate program is to find a rehab facility that emphasizes individualized care as well as a range of treatment services. This will mean that your loved one will have a unique treatment plan based upon specific needs, and that treatments and therapies will be chosen from a range of options that have a research-based ability to address those needs.
Health Insurance
The Affordable Care Act mandates that all approved health insurance companies offer care and treatment for addiction that is comparable to care provided for physical health problems. Because everyone is now able to access health insurance, this means that everyone has access to financial assistance when it comes to paying for treatment. But how much assistance?
The ACA does not stipulate the details, so many providers require proof of medical necessity before approving claims for any behavioral health treatment. This can mean requiring outpatient care initially, so many families opt to choose this less expensive route in order to maximize their coverage. If an intensive outpatient program is chosen, this can be an effective choice, providing the maximum therapeutic benefit while allowing clients to return home at night.
Savings
When planning to pay for a large expense like addiction treatment, it can be helpful to take a second look at savings. In some cases, tapping savings accounts that have been allocated for other things (e.g., college, a family vacation, retirement, etc.) may be a good choice. Depending on the urgency of the saved-for need as compared to the need for addiction treatment, it may make more sense to use that money to manage out-of-pocket costs. Talk to a financial planner before going this route, however, to make sure that this is the best option for your family.
Assets
It can also be helpful to take another look at what you currently have – your income as well as your assets. Extra family vehicles, recreational or otherwise, might be sold to help fund treatment, as can unwanted furniture, exercise equipment, or sports gear.
Also, don’t overlook your income. This is your greatest asset when it comes to managing bills. Create a tight budget, and pluck out all the things that are unneeded to come up with some extra money right away. In addition, a budget can help to free up your income in the coming months if you need to finance part of the cost of care.
Friends and Family
It is not uncommon for a concerned family member to offer to pay for all or part of treatment for your loved one, and this may be an option for you to augment your funds. Make sure that the terms of the loan are clear. Is it a gift or something you will need to pay back? If it is a loan that must be repaid in full, the terms should be in writing to make sure that everyone is on the same page.
Additionally, you may choose to start a GoFundMe page or other similar account to raise funds for your loved one’s treatment. This gives friends and family the opportunity to help out with small donations and contribute to the cause as they are able.
Financing
After all the above resources have been exhausted, you may find that you have more than enough to cover the cost of treatment or that some amount remains for you and your family to cover. In the case of the latter, financing is often an option. You can borrow the amount needed and create a repayment plan that is workable for your family’s budget, helping your loved one to begin treatment as soon as possible so all of you can stop focusing on financial issues and turn your attention instead to the work of healing after addiction.
