When struggling with mental health, you need an insurance policy to help you as you walk this journey. One of the common ways of dealing with mental health is therapy. Statistics and studies have shown its effectiveness under such circumstances. Unfortunately, not all insurance policies will cover this essential health service. So, if you have health insurance cover, you can’t help but ask one simple yet important question. Will your health insurance plan cover therapy? That’s a question that won’t bother you again because this article leaves no stone unturned as far as this topic is concerned. That said and done, let’s delve into it right away.
What’s the Cost of Therapy?
Before looking into the insurance coverage of therapy services, it would be great to discuss its cost in general. First of all, therapy is relatively expensive. Equally important, its cost is not constant. The figure ranges from one practitioner to the other. It is not the only reason why the cost isn’t uniform.
There are various types of therapy services providers with different qualifications. Due to that difference, you may realize that one provider may ask for more money than the other and vice versa. Your condition’s therapy may also be different from what another patient requires. Consequently, the cost of these therapies won’t match. The length of your sessions, area of residence and insurance plan terms and conditions also affect therapy costs.
In most cases, one therapy session costs not less than $100. The $100 bill is rare since therapists often charge $200 and above per session. Some consider the income of one’s household and use it to determine the amount of your therapy cost.
Will Your Health Insurance Plan Cover Therapy?
The answer to this question depends on your health insurance provider and, more so, the contract the two of you signed. So, reading the insurance policy could be a great place to start. As you read this document, try and find out whether the policy covers mental health services. If the answer is a no, it would be absurd to expect the insurance plan to cover therapy. On the other hand, a yes means you can rely on the policy to cover your therapy.
Nevertheless, a yes shouldn’t call for a celebration just yet. As a matter of fact, you need to dig a lot deeper to get to know the specific mental health services you benefit from. Find out whether you will get compensated for out-of-network therapists or if the coverage is limited to their in-network counterparts. Don’t overlook the out-of-pocket cost each therapy will cost you, including the set deductible. Equally important, note the limit of the period of every therapy session and the number of sessions it covers annually.
Once you have the answers to all these questions, you will have a clear picture of what to expect from your insurance policy. One must admit that getting these answers will take considerable time. However, it is worth it since the answers are undeniably important.
Different Therapy Coverages by Various Insurance Providers
In most cases, insurance providers fall under three broad categories. Will your health insurance plan cover therapy? These categories often determine the answer to that question. How? Let’s look at each one of them for the answer.
Marketplace Insurance Policies
It is a law requirement for all the marketplace insurance providers to cover counselling and therapy. Therefore, there are high chances of enjoying therapy services benefits if you own such a plan. However, there is one thing one can’t stress enough. The benefits you receive as far as mental health is concerned will depend on your agreement with your health provider. Additionally, the same insurer may have several plans with different mental health benefits. Therefore, you should be keen on the insurance provider and plan.
It is no secret that Medicaid health services benefits differ from one state unless the service falls under the mandatory ones. Unfortunately, mental health services aren’t considered essential by Medicaid. Therefore, it is up to a particular state to determine whether to cover the services or not. So, will your health insurance plan cover therapy if you are eligible for Medicaid? That solely depends on your state and the health services they cover under Medicaid. So again, be keen when studying your insurance policy to understand what you expect from your insurer.
If you have a medicare insurance plan, rest assured that one of your benefits will be mental health services. It will cover counselling, therapy and other outpatient services related to your mental health. If you need a diagnostic test to determine your mental health condition, medicare will pay for the same. It is important to note that this only applies to the Medicare Part B plan. In addition to that, you get to pay the required out of pocket costs. That includes your deductible, coinsurance and copay where necessary.
Conclusion: Will Your Health Insurance Plan Cover Therapy?
After a detailed discussion on this topic, one thing remains clear. Will your health insurance plan cover therapy? That’s a question that this article has answered explicitly. It is now crystal clear that the insurance policy at hand is the most significant determinant of whether the answer is a yes or no. Since a single insurance provider could have several plans, it is your responsibility to choose the one that suits your needs. In the event that you need therapy sessions, the situation would become easy if you had insurance support to cover the necessary costs. After all, therapy sessions aren’t cheap, and financial constraints can jeopardize one’s mental health. Any additional stress, including financial problems, could worsen a bad situation than before. No one wants that for sure.
Ensure that the health insurance plan you settle for covers therapy if you need mental health services. As usual, FindMyQuotes got you. It will help you settle for the right health insurance plan to cover all your needs, including therapy.