When looking at rehabs, your first question probably is how much does rehab cost? However, this question likely churns your stomach a little. Unfortunately, there is no simple answer. Instead, the cost of rehab depends on many factors and your own insurance or lack thereof.
How Much Does Rehab Cost With Insurance
Getting answers to your question of “how much does rehab cost” is pretty easy. All you need to do is pick up the phone and call your chosen rehab’s admissions office for insurance verification. If you do not have insurance, however, still call them for details of other payment options. They provide guidance toward rehab financing companies, too.
Of course, having insurance makes the process much easier to handle. In fact, health insurance offers many benefits. However, you still need to understand your policy and its terms and conditions. There’s also “fine print” you need to consider, with its disclaimers and exclusions.
It takes only a few minutes to verify your insurance. Simply call the rehab with your insurance card in hand. They communicate with your insurance company on your behalf. They call you upon completion, giving you the full picture of what your insurance policy covers and how much does rehab cost for you.
Key Terms on Your Insurance Policy
If you have insurance for rehab, your policy uses key terms to help you understand how much you will pay out-of-pocket. Most people gain even greater confusion from these terms, instead.
Deductible
The deductible is how much you pay before your insurance company pays anything. However, after you pay the full deductible, you still have to pay coinsurance and copayments.
Copayment
Copayments include the amount you pay from your pocket for treatments and services when visiting your healthcare provider or gaining treatment. Moreover, these amounts begin before or after your deductible is fully paid, depending on your policy.
Coinsurance
Coinsurance includes amounts you pay for services after paying your deductible in full. Therefore, if your coinsurance obligation is 30 percent, your insurance policy pays the first 70 percent for specific services and you pay the rest.
Out-of-Pocket Maximum
Your insurance out-of-pocket maximum is the most you must pay toward healthcare in one calendar year. For example, if your out-of-pocket maximum is $5,000, that is the most you will pay in a calendar year. Even if you achieve this maximum early in the year, your costs are 100 percent covered by insurance for the rest of the 12 month period.
Verification of Your Insurance with Ashley Addiction Treatment
To verify your insurance and begin on the road to recovery, call Ashley Addiction Treatment at 866-313-6307 today. Contact us now and we’ll answer any questions you may have about financial options for addiction treatment.