Your son or daughter has agreed to enter into a treatment program for their young adult substance abuse. After spending weeks planning on how to talk to them about their problem and the anxiety around their response, now it’s time to find the right program. Of course, you want the best for them. Yet, you may be wondering what that will cost. Going through the discovery process of finding the right addiction treatment center can spark fear about how you’re going to pay for treatment. Thankfully, you are not alone. There are multiple options when it comes to affording treatment for your loved one.
How to Pay for the Best Young Adult Addiction Treatment Programs: Insurance
Thanks to the Mental Health Parity and Addiction Equity Act (also simplified as the Parity Act) insurance companies are required to provide mental health coverage, including substance use disorder coverage, that is on par with the same type of coverage they would offer for medical or surgical coverage. With this in mind, the majority of young adult addiction treatment programs accept commercial insurance policies. This means that for the price of your deductible, your loved one can often have their substance abuse treatment paid for by your insurance provider. You pay your premium all year, so you may as well use it when you need it!
How to Pay for the Best Young Adult Addiction Treatment Programs: Private Pay
If for some reason you elect not to use insurance or the young adult treatment program you have elected does not work with your insurance provider, there is always an option to private pay. This means you pay out of your pocket for their residential addiction treatment. All young adult rehabs will have a private pay cost. This cost is broken down by days and services. If detox is required, they will have a detox day rate. They will also have a day rate for residential level of care and so on. This makes sure that you only pay for the number of days that your son or daughter is in treatment. When private paying, you may have the ability to put down a deposit and pay the rest at the end of treatment but most facilities require paying the majority up front.
How to Pay for the Best Young Adult Addiction Treatment Programs: Government Funding and Scholarships
Almost every state in the country has at least one kind of fund set aside to help pay for behavioral health treatment. These funds are run by each state's Department of Mental Health and Substance Abuse and the will always have some prerequisites to them. Most will limit the number and type of facilities that your son or daughter can attend. They will more than likely be state-run facilities. Also, because the demand for state help is high and the supply low, there are frequently long waiting lists to attend these facilities. It should be noted that it is worth asking whatever young adult treatment program you are looking into if they have any scholarships or grant funding. Not all of them do and those funds are typically depleted quickly, but it doesn’t hurt to ask!
How to Pay for the Best Young Adult Addiction Treatment Programs: Financing
As with all big purchases in life, there are usually options to finance and addiction treatment is no different. Some young adult rehabs will have their own financing options while others may work with a trusted bank in the area to finance your child's treatment needs. There are also a number of third-party companies that offer mental health and substance abuse treatment financing. You can utilize your credit score or collateral to obtain the funds you need with a repayment plan. Credit cards are often an option to pay for treatment as well.
How to Pay for the Best Young Adult Addiction Treatment Programs: Mix and Match
Most people usually end up using a combination of the aforementioned ways to pay for addiction treatment for young adults. The most common is to use your insurance coverage for the majority of addiction treatment costs. Whatever amount insurance won’t cover is paid out of pocket, and if the money for that private pay expense is not immediately available, financing is arranged to meet the financial need. All good young adult treatment programs will have experts that will work with you on the front end to figure out the best way to pay for treatment. No one should be denied help because of their financial situation.