You may have heard the phrase “Therapy is an investment.” It’s true — therapy takes dedication, effort, time, and focus to work, and it’s well worth it. But what about the other type of investment — the financial part of it all?
There are many factors that go into the cost of therapy — including how you’re going to pay for therapy and how often you want to see a therapist. Rest assured, affordable therapy options are out there. Here, we’ll discuss what to consider when trying to get an idea of what therapy will cost you, and share how seeking therapy through SonderMind can make it easier to pay for care.
If you have health insurance, the first step to figuring out the cost of therapy is to take a good look at your insurance policy. You can call the customer service number on the back of your card to confirm your specific benefits. You can ask, “What are my behavioral health benefits?” to find out how much you would pay for a therapy session. A few common terms you might hear and that are important in determining the cost of a therapy session include:
A deductible is how much you have to pay out-of-pocket before your insurance carrier starts paying. If you look at your insurance card, you’ll see a Member ID number somewhere on there. Usually, you can go to your insurance company’s website and sign up for an account (using your Member ID) where you can see your insurance plan details, including what your deductible is. You can always call your insurance plan with questions about your deductible.
Your coinsurance is the amount you’re responsible for paying after the deductible has been met. Coinsurance is usually found in the same online portal where you found your deductible. This will be a percentage, not a dollar amount.
If you look at the front of your insurance card, you can probably see copay costs. For example, it may say, “Primary Care: $25, Specialist Care: $50”, etc. If it displays a dollar amount, it’s a copay.
A copay is a set amount you pay for an appointment, due at the time of service. In most cases, your copay will not apply towards your yearly deductible. And you will always owe the copay amount unless you hit your out-of-pocket maximum for the year. After hitting your out-of-pocket maximum, insurance will cover 100% of the costs of your covered benefits.
Another important factor to consider when using your insurance to pay for therapy is to make sure you connect with a therapist who’s in network with your health insurance plan. It often costs less to see a therapist who is in network with your plan vs. out of network. Reach out to your insurance company for more details about in-network vs. out of network care.
SonderMind makes it easy to connect with a licensed therapist who is in network with your insurance plan. Our therapists are in network with a variety of insurance plans in the states in which we offer therapy. Learn more about where we are, the insurance plans our therapists are in network with, and how to connect to an in-network SonderMind therapist here.
There are many options for you to pay for mental health care, outside of using health insurance benefits, including:
Many employers offer support through Employee Assistance Programs (EAPs) that provide a range of health, financial and social support, including support for mental and substance use disorders. Contact your employer to see if they have an EAP program and what services are covered.
If you have a health plan through your employer, you may be able to use a Flexible Spending Account (FSA). An FSA is an account that you put money into to pay for certain health care costs that are out-of-pocket. FSAs are tax-free, which means that no taxes are paid on the money put into an FSA.
If you have a high deductible health plan (HDHP), a Health Savings Account (HSA) is an account that lets you set money aside to pay for certain eligible health costs. The money set aside is not taxed, helping lower your overall health care costs.
Many therapists offer affordable self-pay rates or sliding fee scales to help clients get the care they need, with or without using insurance benefits. When looking for a therapist, you can ask if they offer self-pay rates.
SonderMind offers affordable self-pay rates for those who aren’t using insurance. The exact cost of therapy with SonderMind without using insurance depends on several factors, including the length of the session you agree on with your therapist and the type of care. Visit our Insurance and Payment FAQs page for more information on our self-pay rates.
The cost of your therapy session depends on your payment method and the behavioral health coverage provided by your insurance or EAP. Contact your insurance provider or employer to understand your behavioral health benefits and what is covered or not covered.
If you do not have health insurance coverage, or plan to use an HSA, FSA, or self-pay, contact your therapist directly to get a better understanding of their rates before your first session.
Your therapist will be able to determine a treatment plan that is right for your needs and your budget. They will help you better understand the specific costs and benefits of your treatment plan so that you know what’s covered and what you will need to pay.
Whether you’re planning on using your insurance or self-pay to pay for therapy, SonderMind is here to make the process of finding a therapist who’s right for you simple. Let us know a little more about what you’re looking for — including how you’d like to pay for therapy — and we’ll connect you with a licensed professional who meets your unique needs and preferences within 48 hours.