Is Psychotherapy Too Expensive?

By Pauline Wallin, Ph.D.
Guest Blogger

The cost of a typical course of psychotherapy (12 sessions or fewer) is generally under $2000. That’s certainly more than pocket change. But is it too much? Well, it depends on how you figure it.

If you use your health insurance, you’ll be paying only a fraction of that cost. But even if you pay completely out of pocket, $2000 for psychotherapy could turn out to be a bargain.

First, we know that emotional problems and stress can make you more vulnerable to serious medical illness – which can lead to additional medical bills, time lost from work and higher health insurance premiums. These factors can add up to well over $2000.

Next, consider how depression and anxiety affect your day-to-day quality of life. You not only feel sub-par; you may also have trouble with focus and concentration – which can lead to costly mistakes, omissions and accidents.

When you feel miserable, the people around you are also affected. You cannot be the parent or spouse or friend that you want to be. And if you let things go too far, you may even lose your will to live. That’s pretty scary!

The good news is that psychotherapy helps the majority of people who enter into treatment. Psychologists are trained to help you discover better ways to deal with what life throws at you.

“$2000 is way out of my budget. What are my options?”

If you have health insurance there’s a good chance that it covers psychotherapy by a licensed mental health professional. You’ll probably need to pay a copay, which will be higher for out-of-network therapists.

But don’t decide on the basis of cost alone. Get recommendations from family members, friends or your physician. It’s very important that you have confidence in your therapist and that you feel comfortable with him or her.

Keep in mind that you don’t need to come up with the entire therapy fee all at once. You’ll be paying by the session. Many therapists accept credit card payments. You may also consider taking out a loan. After all, psychotherapy is an investment in yourself (similar to education) where you anticipate a brighter future as a result of the time and money you spend.

Don’t put it off

Although it’s never to late to get help, the longer you wait, the more time is wasted.  Investing in your own psychological well-being is a good plan for both yourself and for your loved ones.