Watching your adult son or daughter struggle with addiction is devastating. As a result, you are likely inclined to want to assist them. Through this process, you may assist your children in finding a rehab facility. Procuring help also means finding a way to pay. Keeping some tips in mind can help you with these costs.
When it comes to the costs of treatment, you generally have a few options. The best one for you depends upon your situation and your insurance coverage. To summarize, the most prominent options generally include the following:
- Insurance covers all or part of the treatment.
- Your children pay for their own treatment.
- You pay for your children’s treatment.
- You seek alternative sources of assistance.
Insurance and Addiction Treatment
Whether insurance will cover treatment for addiction is an individual matter. Your children need to speak with their insurance provider to find out what type of treatment is covered. Also, you will need to speak with a representative at the addiction treatment center to discover if the insurance is accepted at the establishment. Keep in mind that insurance might not cover the full cost of treatment. During these conversations, you must ask what exactly is covered. Certain forms of treatment may be covered, or treatment might be covered for a specified amount of time. Depending upon the age of your kids, you may be able to switch them to your policy if your insurance providers services that theirs does not.
Your Children and Payment
In the event that the insurance does not cover the cost of treatment, your children may need to pay for their own rehab experience. In some ways, they may have the money to do so out of pocket. However, paying for treatment in this fashion is not possible for many people. While you do not want to encourage your kids to get into financial trouble and amass credit card debt, you could suggest this approach as one when it comes to paying for treatment. Another possibility is to take out a loan. Comparing interest rates of different loans to the amount of interest that would appear on a credit card is a smart move. You may even want to encourage your children to meet with a financial adviser so that you can work to prevent monetary problems from arising after the treatment program is complete.
Your Ability to Pay
Unless your kids are on your insurance plan, the policy is not going to cover their treatment. Therefore, you may decide to put the treatment on a credit card or to take out a loan to help them pay for the expense of rehabilitation. Another possibility is that you are going to pay for the treatment out of pocket. When you are taking this approach, you may want to ask your kids to pay you back in the future. Proceed with caution with this mindset. You may be putting an extra weight on their shoulders that they cannot properly manage now. For example, they may spend their time in treatment worrying about paying you back when they should be focusing on changing their lives in a positive manner. When you are thinking about paying for treatment for your adult children, consider doing so as a gift.
It’s possible that insurance isn’t going to cover the treatment, and you may not have the money to pay for it at all. Your kids may not have the funds either. It is also possible that none of you are able to use a credit card and that you don’t qualify for a loan. In the event that you are struggling to qualify for a loan due to credit scores, you may want to look into opportunities for people with bad credit. However you should also speak with a representative at the rehab facility. The facility may have options that you don’t know about it, and you do not want to pass these possibilities by. For example, you could ask if a payment plan is available. With this option, you would likely need to make payments each month. The life of the payments would likely extend beyond the life of the treatment.
Getting rehab for addiction is so important, and you don’t want finances to stand in your children’s paths. However, you do need to consider the financial components of getting help for addiction. Picking up the phone and calling 770-299-1677 now can help you to learn more about the options.