How Do Substance Abuse Treatment Loans Work?

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Being unable to afford the cost of substance abuse treatment has been a significant barrier to treatment for people struggling with addiction over the last several decades. Thankfully, affordable options are being created for those in need of assistance.

How Do Substance Abuse Treatment Loans Work?

For a person who was unable to afford residential or inpatient substance abuse treatment, the options were limited. Even if the person needed the type of comprehensive care a live-in treatment option provided, if they could not pay for treatment, they weren’t able to attend.

In recent history, people without insurance or the ability to pay for services could not access halfway houses, aftercare options, or continuation of care, which are important for early on recovery and long-term sobriety.

Instead of getting quality substance abuse treatment, a large percentage of these individuals end up incarcerated in jails or prisons, and these places are not properly equipped to treat individuals addicted to drugs and alcohol.

Recognizing the lack of affordability and access to quality, thorough substance abuse treatment options, additional finance options are becoming available to those who otherwise would not be able to pay for treatment.

Ways To Pay For Addiction Treatment

There are a number of different options to explore when looking to pay for quality rehabilitation. Many people have acquired health insurance by way of the Affordable Care Act, which initially passed in 2010.

What some people are not familiar with is the Mental Health Parity and Addiction Equity Act of 2008. This act actually requires insurance companies to offer the same amount of coverage for substance abuse treatment as they do for medical or surgical coverage.

In addition to health insurance, some other options for paying for addiction treatment programs include:

  • personal financing (credit cards, self-pay)
  • personal loan
  • home equity loan
  • crowdfunding
  • payment plans

These are just a few options that are commonly considered when seeking substance abuse treatment. However, there are also loan companies that work directly with facilities as well as lenders that offer loans specifically for addiction treatment.

Do Facilities Offer Private Financing?

Often, a facility will be set up to offer options for individuals who are unable to outright pay for treatment, including some type of in-house financing. Usually, the loan companies that a facility pairs with offer affordable loan options that have an easy pay-back plan.

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Reaching out to a facility and explaining your financial circumstances will allow them to explore financial aid options they may have at the location, as well as other financing options.

Specialized Loan Companies

There are specialized loan companies that are specifically geared towards people seeking financing to attend substance abuse treatment facilities.

These loan companies usually offer low-interest rates and allow the individual to have an extended repayment over a longer period of time, instead of requiring a downpayment at the start of the loan.

The loan application process is similar to any other loan, an application must be filled out and a credit check to determine eligibility is usually the standard procedure.

Help Pay For Addiction Treatment

A person trying to seek substance abuse treatment should not have to worry about how they are going to pay for treatment. There are many options available for the person or their loved ones who are trying to help them obtain treatment services.

Finding a facility that is equipped with financing options can be an important part of the process. We have a staff of specially trained professionals who can use the resources available to locate a substance abuse treatment facility that meets all your needs.

Take the time to contact us, we can help you today. We can check your insurance coverage or discuss financing options you may qualify for.

This page does not provide medical advice. See more

Addiction Resource aims to provide only the most current, accurate information in regards to addiction and addiction treatment, which means we only reference the most credible sources available.

These include peer-reviewed journals, government entities and academic institutions, and leaders in addiction healthcare and advocacy. Learn more about how we safeguard our content by viewing our editorial policy.

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