Financing Recovery to Get Help Now and Pay Over Time

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Using Credit Cards, Loans, and Crowdfunding to Cover Treatment Costs

  • Rehab can be expensive, even if you have insurance. You have several options if you’re looking to finance treatment.
  • Options include crowdfunding sites, treatment center payment plans, personal savings, loans, and health care credit cards.
  • Consider less risky options, such as using personal savings or borrowing from friends or family, before more risky options that may include high interest rates.
  • People who already have a poor credit history will have an even more difficult time finding a loan.
  • Going into debt is a difficult choice to make. But investing in addiction treatment could potentially save your life or keep you from becoming homeless.

Borrow from Friends and Family

If you are concerned about the cost of recovery treatment, don’t let it discourage you. The most important thing is getting the help you need to live a sober and happy life. A number of crowdfunding platforms allow you to raise the money you need to receive proper treatment.

Websites such as GoFundMe, IndieGoGo and Crowdrise allow you to create a campaign in a few easy clicks and then share the link with your friends and family.


Set Up a Treatment Center Payment Plan

Many treatment centers understand the financial hardships of people looking to recover from addiction and don’t want to deter anyone from getting the help they need. These centers offer an array of payment options, including automatic

monthly payments and graduated payment plans. They work closely with the client to individualize the treatment plan according to his or her financial situation. This removes the stress of payment and allows you to focus on recovery.


Use Personal Savings

Although the cost of rehab can be daunting, nothing is more important than your health and recovery. If insurance doesn’t cover all of the costs of treatment, consider using your own personal savings before taking dire, financial actions that could potentially have high interest rates.


How Much Does Rehab Cost?

Inpatient can range from $2,000 – $25,000 for a 30-day program, while outpatient can range from free to $10,000.

Learn more about rehab costs and using insurance to pay for rehab.

Take Out a Home Equity Loan

If you or your loved one has a home to offer as collateral, securing a home equity loan can be more beneficial than a typical personal loan.

Banks see these loans as relatively low risk, so the interest rates are typically much more favorable than those of unsecured personal loans. You can pay points to further lower your rates. A point is equal to 1 percent of your overall line.

If you’re interested in this type of loan, see whether you have enough equity in your home to qualify and be sure you’re comfortable borrowing against your home.


Turn to Specialized Loan Companies

Many financial institutions, such as Prosper Healthcare Lending and My Treatment Lender, cater to those seeking drug rehab financing. These loan companies typically offer special loan packages that are affordable and tailored to the costs of treatment.

By using such companies, you or your loved one can extend repayment over time instead of worrying about making a payment upfront. These loan companies also have lower interest rates than credit cards and health care cards.

Similar to other loan companies, you or your loved one will be asked to fill out a form that details your financial and credit situation to determine eligibility.


Apply for a Personal Loan

For lower interest rates, visit a bank or other lender for a personal loan if your credit history is healthy enough. You will be required to list your assets, income and expenses by presenting pay stubs or bank statements.

These loans have differing interest rates and repayment terms, so be sure to read the fine print. Opt for a fixed payment loan over a variable loan, so you can be sure what you owe each month.


Cover Costs With Health Care Credit Cards

Another potential option for drug recovery financing is to seek out a health-care credit card through companies such as Care Credit.

Some credit companies cater to those looking to cover medical expenses and even offer credit to people with a poor credit history. Those with a good credit history may be able to receive up to $20,000 or more in credit for financing an addiction recovery program.

Similar to traditional credit cards, the interest rate can be very high. But you can find lower rates through promotions and longer repayment terms.


Finance Care Through Credit

If you cannot afford upfront payments, you can explore financing care through credit. This allows you to immediately enter a program and get the help you need. If you qualify for 0% interest, this is a good option for a fast and inexpensive route for financing care.

Monthly payments and interest rates on credit cards may be high, though, so you or your loved one should only choose this option if you can pay off the debt quickly.

Learn more about costs and payment for addiction treatment:
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