Therapy Can Be Expensive: Learn Tips and Tricks to Make Therapy More Affordable
Growing up, I had a special knack for not fantasizing about things that felt out of reach – whether physically or financially. Therapy fell squarely into that category. To me, it seemed like something only “rich people” could afford, a luxury far removed from my reality. This didn’t change once I was in my graduate program – I was a burnt-out graduate student providing therapy to others but couldn’t afford it for myself! So, imagine my surprise over the years when I discovered that therapy could be more accessible than I ever knew.
Let’s be clear: therapy is an investment. If you’ve looked at my investment page or those of other out-of-network therapists, you know it doesn’t come cheap. By "out-of-network," I mean therapists who don’t accept insurance and therefore won’t appear in your insurance provider’s directory. There are many reasons why therapists, such as myself, do not accept insurance (i.e., cost of running a business, paying myself, protecting your privacy, flexibility with sessions, specialized expertise, etc), however, I never want that to be a barrier for therapy. Here are practical ways to make therapy, whether with me or another provider, more affordable than you think.
Take Advantage Out-Of-Network Benefits
If you have health insurance – whether through your employer, a spouse, or the New York State Marketplace – you likely have out-of-network benefits. These benefits mean your insurer will reimburse you for some or all your medical expenses (including therapy) after you meet your annual deductible. The percentage that your insurance will reimburse you for is called co-insurance.
How Does It Work?
Here’s an example:
Cost of therapy sessions: $200 per week
Deductible: $1,000
Co-insurance: 75%
Let’s say you’ve already paid $1,000 out-of-pocket for a minor ankle surgery earlier this year. Since you’ve met your deductible, your insurance kicks in, and you’re responsible for only 25% of the therapy fee—$50 per session instead of $200! Now, if you weren’t lucky enough to break your ankle, that’s okay. You would pay the $1,000 for therapy (the total cost of five sessions) to meet your deductible and then receive $150 reimbursement for every therapy session thereafter for the year.
Note: Most therapists will require you to pay their full fee upfront, but they can provide you with a superbill (a detailed receipt for healthcare services). You submit this superbill to your insurer for reimbursement. Many insurance companies now offer user-friendly online portals where you can upload your superbill in just a few minutes.
Questions to Ask Your Insurance Provider
To better understand your financial commitment to therapy, ask your insurer:
Do I have out-of-network mental health coverage/benefits?
Do I have a deductible? How much is it and how much has been met?
What percentage of the therapy fee is covered?
How does my coverage change once I’ve reached my out-of-pocket maximum?
If you’re interested in working with me but unsure whether weekly therapy is feasible, schedule a virtual consultation. I’m happy to help you navigate the numbers.
Pro Tip: Some therapists accept certain insurance plans but not others. For example, a provider may take Aetna PPO plans but not Aetna HMO plans or they may accept Anthem Gold or Platinum plans but not Anthem Silver plans. Always clarify with your therapist whether they accept your specific plan.
Use Your Health Savings Account (HSA) & Flexible Spending Account (FSA) Benefits
Do you have a quirky-looking debit card you don’t remember signing up for? If so, you might have an HSA or FSA account. These tax-advantaged savings accounts let you set aside pre-tax dollars to cover qualified medical expenses, including therapy. And because therapy is considered a medical expense, your HSA and FSA benefits can be used to cover the total cost of your sessions (depending on the amount that you have set aside).
Why It’s a Smart Option:
Tax Benefits: You save on taxes by using pre-tax dollars for therapy expenses.
Automatic Deductions: Contributions are automatically deducted from your paycheck.
Accrued Funds: If you’ve been contributing for years, you might have a large balance ready to use.
For instance, if you’ve been setting aside $300 a month for the last two years, you could have $7,200 waiting to fund your therapy sessions.
There are differences between HSA and FSA benefits so check with the health benefits representative. If you aren’t sure if you have HSA or FSA benefits, you can check your most recent paystub in the “deductions” section or check with your HR or health benefits representative.
Note: You can only enroll in HSA/FSA benefits when you are onboarding for a job and during your benefits open enrollment period (typically sometime in November).
Consider Group Therapy
Group therapy is a cost-effective way to receive professional support while connecting with others who share similar challenges. Typically more affordable than individual sessions, group therapy allows you to benefit from the guidance of a licensed therapist at a fraction of the cost (i.e., $60-$120 per session). In addition to financial accessibility, group settings foster a sense of community, helping you realize that you’re not alone in your struggles. Many groups focus on specific topics like anxiety, relationships, or self-esteem, providing targeted support and tools for growth. If weekly individual therapy feels financially challenging, consider exploring group therapy as a budget-friendly alternative.
Ask About Sliding Scale Fees
Many therapists, including myself, offer a “sliding scale” which means that we may be willing to accept a fee less than what is advertised on our website. For example, a provider may have a posted rate of $200 per session but may be open to accepting a fee of $125. This does not mean that you should negotiate your therapists’ fee like it’s a fruit stand at a farmers’ market; this is our way of acknowledging that the cost of treatment should not be a barrier for those who could benefit and making space for them. Sliding scale slots are limited so you should ask your potential provider, “Do you have a sliding scale” or read their website/fee page.
As a therapist, I am committed to finding a fee that feels fair and sustainable to us both. If I cannot accommodate your budget, I’ll happily provide referrals to other therapists who might.
Explore Employer Assistance Programs
Employee Assistance Programs (EAPs) are a valuable resource offered by many employers to support your mental health and well-being. These programs often provide free or low-cost therapy sessions as part of your benefits package, making therapy more accessible and affordable.
EAPs typically include a set number of confidential sessions with licensed therapists, addressing issues like stress, anxiety, burnout, or work-life balance. These services are designed to provide short-term support (typically 4-6 months max), often serving as a bridge to ongoing therapy if needed. Although you will be seeing a therapist paid for by your job, your therapist is still bound by the limits of confidentiality which means that they cannot divulge the contents of your sessions to your nosey co-worker or (micro)manager. Depending on the state you work in, therapists through EAPs can only inform your employer if you are (or are not) showing up to your sessions. That’s it. If you’re considering therapy, check with your employer to see if an EAP is available.
Low Fee Directories – Open Path
Low fee directories like Open Path Psychotherapy Collective offers affordable individual, couples, and group therapy options, with services ranging from $30-$80. Open Path is a “nonprofit nationwide network of mental health professionals dedicated to providing in-office and online mental health care” and has a wide directory with licensed providers in all 50 states. Many great therapists are on Open Path, including myself, because we are dedicated to providing equitable health care. To join Open Path, you pay a one-time membership fee ($65) which supports the platform and the folks who keep it going. Therapists on Open Path offer short-term and ongoing services so you may not be limited to a specific number of sessions like you would be through EAP’s and through therapy funds.
Therapy Funds
Therapy funds are another option if you aren’t sure how to afford weekly therapy sessions. Organizations like The Loveland Foundation and Sad Girls Club are two such resources dedicated toward bridging the therapy gap for self-identifying Black women/femmes and women/femmes, respectively. Both organizations offer time-limited therapy (12 sessions) which is common amongst therapy funds. Both organizations also require applications and approval before disbursing payment. Unlike out-of-network benefits, therapy funds understand that you may not have the money to be reimbursed (later) in the first place and directly pay your therapist. And unlike EAP programs and low fee directories, you can work with any therapist you want (as long as they agree to this arrangement). All this is to say, therapy funds really put a lot more agency back in your hands! I’ve worked with client’s through the Loveland Foundation and it was a very smooth process in my experience as a therapist.
Final Thoughts:
Therapy is an invaluable investment in your mental health and overall well-being, but it doesn’t have to feel out of reach financially. With options like out-of-network benefits, HSA/FSA accounts, group therapy, sliding scale fees, EAP’s, low-cost therapy directories, and specialized therapy funds, there are many ways to make therapy more accessible. Don’t let cost deter you from getting the support you deserve. By exploring these resources and asking the right questions, you can find a solution that fits your needs and budget.
*At the time of this blog post, I am not currently accepting clients through Open Path Psychotherapy Collective, Sad Girls Club, or The Loveland Foundation. Spots for these organizations will become available in March 2025.
About The Author:
Dr. Ruby Rhoden is a New York-based licensed psychologist who is dedicated to uplifting women through life changes and challenges, including reproduction and parent burnout. She understands how unhelpful behavior patterns and mental health disorders uniquely impact women and uses evidence-based techniques to usher in sustainable change and relief. Dr. Ruby is dedicated to helping women develop healthier habits and relationships with themselves and their bodies so they can connect to others and the world around them again. Dr. Ruby studied at Cornell University and Rutgers, The State University of New Jersey for her Bachelor’s and Doctoral degrees, respectively. In her free time, she enjoys watching reality TV, supporting small businesses, and writing blog posts to remind all women that they are not alone.
