Financing Drug Treatment

When it comes to receiving the proper addiction treatment, saving the life and health of you or someone you love should be the highest priority; regardless of the cost. Although for most, attending a rehabilitation center is an expensive venture. While there are some state and government funded facilities and programs, they often have long waiting lists and lower success rates.

For higher quality services and treatments, many choose to attend a private facility. However, $5,000-30,000 per month is not within most people’s budgets; especially with long term treatment programs in which making these payments can add up considerably over time.

Even though your pocket book may be cringing at the thought of paying such high rates, there are options. When you are considering different methods of paying for drug or alcohol treatment, one of the first places to look is the facility you are considering attending. Many rehabilitation facilities offer financing options. They will often help cover part or all of the cost in the form of a loan to be paid back over a longer period of time. If the facility itself does not offer financing, they often work with a bank or lending center that does. This option will usually offer lower interest rates as well.

Drug treatment financing programs are often the best route for flexible and affordable payment of rehabilitation. If financing is unavailable at the facility, another option is refinancing. If you own a house, you can benefit greatly from the equity you have built up in your home. Refinancing at a lower interest rate will help to lower your monthly payment and will also free up a substantial portion to be put toward a monthly treatment payment. If you have a lot of equity, you can also take some of that out when you refinance as a way to pay for treatment. Credit cards are also an option, although they typically have a very high interest rate but will sometimes offer 0% financing for several months when signing up for a new credit card; which would help keep costs down.

Many insurance companies are beginning to include addiction treatment in the list of things they cover. Although the deductible is typically pretty high, checking with your insurance provider to see what your plan offers can help cut down the amount that you will have to pay. The facilities you are considering will probably be the largest influence on the amount, if any, that is covered by insurance. As a last result you can appeal to family and friends to help you cover the cost of treatment. Whether through loans or gifts of support, they will feel a part of the recovery process. Also, selling items such as cars, televisions, and jewelry can help to make up the difference between what you were able to finance and what you still need. Funding rehabilitation is a daunting task; however, continuing a life of substance abuse will have even more negative effects on you, your health, and your family.

If you make recovery your top priority, then you can make the funding happen as well. Consider it an investment in your future, your health, and your happiness.