Medical Articles & News

Is Financial Assistance Available for Mental Health Treatment?

September 7, 2022 by Christopher Wolfington

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Mental health disorders affect many Americans every year. According to the National Alliance on Mental Illness, 1 in 5 adults in the U.S. experiences mental illness in a given year. While mental illness is common, it can be challenging to manage and treat. Mental health disorders can cause problems with thinking, feeling, and behaving. They can make it hard to cope with everyday stress, relate to other people, and keep a job.

If you have a mental health disorder, you may need treatment from a mental health professional. Mental health professionals include psychiatrists, psychologists, counselors, social workers, and other trained specialists. Treatment can help you manage your symptoms and improve your quality of life.

But treatment can be expensive. The cost of mental health care for patients depends on many factors, including the type of treatment you need, how often you need it, and where you live. Contact FinPay at info@finpay.com for more information about payment solutions.

Securing  Financial Assistance for Mental Health

If you're having trouble paying for mental health care, you're not alone. According to a report from the Centers for Disease Control and Prevention (CDC), nearly 1 in 3 adults in the U.S. who need mental health care don't get it because of the cost.

Many financial assistance options are available to help pay for mental health treatment. Some options are government programs, while private organizations offer others.

Government Programs

Several government programs can help you pay for mental health care.

Medicaid is a government program that provides health insurance for low-income adults and children. If you qualify for Medicaid, you may be able to get mental health care covered by your insurance.

Medicare is a government program that provides health insurance for seniors and people with disabilities. If you have Medicare, you may be able to get mental health care covered by your insurance.

The Veterans Health Administration (VHA) is a government program that provides health care for veterans. If you're a veteran, you may be able to get mental health care covered by your insurance.

The Substance Abuse and Mental Health Services Administration (SAMHSA) is a government agency that provides financial assistance for mental health care. SAMHSA also offers other resources, such as support groups and educational materials.

Private Organizations and Non-Profits

There are also several private organizations and non-profits that can help you pay for mental health care.

Mental Health America (MHA) is a national non-profit organization that provides financial assistance for mental health care. MHA also offers other resources, such as support groups and educational materials.

The National Alliance on Mental Illness (NAMI) is a non-profit organization that provides financial assistance for mental health care. NAMI also offers other resources, such as support groups and educational materials.

Additionally, there are several healthcare-specific credit cards that can be obtained after a successful credit check. These credit cards are recognized and accepted at treatment centers across the country and often have promotional interest rates. However, a non-promotional rate is usually more than a regular credit card.

FinPay Offers Financing for Mental Health Treatment

FinPay is a financial assistance program that is patient-focused and based upon education, transparency, and pre-engagement. By candidly discussing patient financial responsibility before treatment begins, a patient gains clear expectations of the cost and can secure a payment option that works best for them.

Unexpectedly large medical bills, or the cost of medical treatment, in general, deters patients from seeking or continuing treatment and makes the relationship between provider and patient adversarial. With FinPay, there is trust and mutual understanding between patient and provider, and FinPay's automation integrates seamlessly into the provider's existing revenue management systems.

Reach Out to FinPay for Financial Assistance for Mental Health

FinPay offers financial solutions to patients that are clearly communicated. There are no surprise medical bills or complicated and frustrating insurance documents to decipher. FinPay's automated systems will assess each patient individually and devise payment options suited to their needs.

Contact FinPay at info@finpay.com to learn more about financing mental health treatment.

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Christopher Wolfington, Chairman and CEO of FinPay, LLC, is a business leader and entrepreneur with over 29 years of experience in consumer and financial services. Mr. Wolfington is currently living in Philadelphia, PA and continues to use his entrepreneurial talent to identify key opportunities and solutions in high growth markets.