What are the Options for Financing Addiction Treatment?

What are the Options for Financing Addiction Treatment?

By Lakeview Health
Lakeview Health
Published: May 30, 2016

In 2013, the National Institute on Drug Abuse was able to determine that 9% of the population had used an illicit substance within the past month. One of the biggest hurdles for many individuals who seek treatment for substance abuse can be the method through which they are going to pay for treatment. If you’re worried about how you will pay for treatment, here are some things for you to consider.

Financing Addiction Treatment With Insurance

The Affordable Care Act (ACA) ensures that national health plans provide at least partial coverage for individuals who are financing addiction treatment. While each plan will offer a different amount of coverage, you may find that a significant portion of the cost of treatment is covered by your insurance. Check with your insurance provider to determine what your options are for addiction treatment if you’re worried about financing.

Financing Addiction Treatment Without Insurance

There are a wide variety of options when it comes to financing addiction treatment with no health insurance:

  • Subsidized coverage
  • Borrowed money
  • Scholarships
  • Sliding scale

There are many individuals whose annual salary qualifies them for subsidized coverage. Paying for treatment with the help of subsidies can ensure your treatment is affordable and that you can get started quickly. Borrowed money may come from friends and family or from a bank in the form of a loan. In both instances, there is a chance that the money will be denied. However, many individuals find that their friends and family are willing to help them in their difficult time. The Substance Abuse and Mental Health Services Administration offers grants to individuals who are seeking funding for treatment. These grants need to be applied for and can be very helpful. Sliding scales are often offered by treatment facilities as a way for individuals with a lower income to pay for their treatment. Essentially, a sliding scale is a discount that is applied because an individual meets certain qualifiers and is based on what they can realistically pay.

Should I Know Anything Else About Financing Addiction Treatment?

Ultimately, making the decision to pursue treatment will always be a step in the right direction. Whether you need to save for a few months, sell a few possessions you no longer need, or ask for a personal loan, there is a great chance you find that pursuing treatment for addiction was the best thing to do. Lakeview Health is a private alcohol and drug rehab committed to ensuring that individuals struggling with addiction find the help they need to become sober. Their strong medical detox programs have assisted hundreds of individuals to safely detox from alcohol or drugs. Call Lakeview Health today at 866.704.7692 for more information about how you can get started on the path to sobriety. Don’t wait any longer to pursue a healthier lifestyle.