What is a deductible?
A deductible is a set amount of out-of-pocket spending. With a deductible plan, the out-of-pocket price per session is determined by your insurance company. Once you’ve reached your deductible amount, your insurance company will start contributing to your therapy costs. Your plan determines the set amount or percentage they cover.
Should you use a high-deductible plan for therapy?
If you have a high deductible plan, you must decide whether you can afford the higher out-of-pocket rate before reaching your deductible and receiving contributions (coverage) from your insurance company. Consider the following example based on the typical care schedule of one weekly appointment with a Grow Therapy provider.
Plan Type | Deductible | Session Cost | Sessions Required | Time Required |
Low Deductible | $1000 | $100 | 10 | ~2.5 months |
High Deductible | $3000 | $100 | 30 | ~7.5 months |
Many clients get what they want from therapy in 3-6 months, so those on insurance plans that won't provide coverage before that cut-off often consider alternative options that allow them to seek the same care at a discount.
Note: If you plan to receive additional care that will count towards your deductible, the sessions and time required may change dramatically. This example is for illustrative purposes and only considers Grow Therapy costs.
What other options are available?
If your high deductible plan is too expensive, consider exploring private pay - also known as cash pay. Many Grow Therapy providers offer sliding scale fees based on your income. Contact your therapist before your first session to determine what rate they will charge you for cash-pay sessions. Even if your therapist can't offer a sliding scale, many cash pay rates are lower than the high insurance rates.