Understanding Your Therapy Costs: What a Good Faith Estimate (GFE) Means for You
Understanding your therapy costs is a crucial first step in creating a stress-free path toward better mental health.
More About Vierge
Viergelyn Chery-Reed is a licensed trauma-focused psychotherapist with over 10 years of experience in clinical practice, serving as an adjunct professor and clinical supervisor, among other roles, while fostering culturally inclusive conversations about mental health and wellness across inter-sectional spaces. She is passionate about remembering, cultivating, and affirming practices, ensuring that diverse communities have access to holistic and culturally affirming care.
Dear Reader:
When you’re planning to start therapy—whether you’re without insurance, choosing not to use your insurance, or your therapist is out-of-network—a Good Faith Estimate (GFE) can help you understand the anticipated costs. Here’s what a GFE means in the context of therapy, why it’s important, and how it can support you in making informed decisions about your care.
A Note on the No Surprise Act
You might have heard of the No Surprise Act, a federal law designed to protect patients from unexpected medical bills, particularly for emergencies or out-of-network services. Although the No Surprise Act primarily applies to hospital and emergency services and typically not to therapy, it’s mentioned here for your reference. Its inclusion underscores the growing importance of financial transparency in healthcare, reminding you that clear cost expectations, like those provided in a GFE, are a valuable part of making informed decisions about your care.
What Is a Good Faith Estimate in the Context of Therapy?
A Good Faith Estimate (GFE) is a detailed list of expected charges for the therapy services or service items provided to you. It is prepared by your therapist or their practice specifically for clients who do not have insurance coverage, have chosen not to use their insurance, or are receiving care from an out-of-network provider. The primary purpose of a GFE is to give you a projected or estimated, clear, upfront breakdown of costs so you know what financial responsibility to expect during your treatment.
Why Is a GFE Important for Therapy?
The GFE provides an itemized list of anticipated charges—from session fees to any additional services. This transparency helps you avoid unexpected bills and better plan your budget for the year. It gives you the autonomy to choose your best financial picture and make necessary chmages to avoid financial stressors.
Being informed about your Good Faith Estimate (GFE) opens up opportunities to make flexible and beneficial adjustments to your therapy and financial planning. For instance, clients have found that this clarity allows them to:
Discuss transitions from weekly sessions to biweekly sessions on a temporary basis, balancing care needs with financial considerations.
Opt for Targeted Intensive Therapy: Choose to focus on intensive psychotherapy sessions when a more concentrated approach aligns with their goals and financial plan.
Choose to increase contributions to their HSA, FSA, or other health funds, ensuring they have the resources available to support their mental health care.
Engage in honest discussions with family or partners about prioritizing mental health, which can lead to more collective support and shared financial planning.
Reflect on and adjust financial behaviors related to scarcity, empowering them to make smarter choices regarding their mental health investments.
How to Use Your GFE When Considering Therapy
Ask your potential ot current therapist or clinic for a Good Faith Estimate. This estimate will show you what to expect regarding fees and help you make an informed decision about both care quality and cost.
If you’re considering multiple providers, request a GFE from each one. Comparing these estimates can clarify the differences in pricing and enable you to choose the provider that offers the best balance between quality of services, type of therapy, and cost.
Use your GFE as a basis for creating a budget. Knowing the anticipated expenses allows you to prepare appropriate payment strategies, discuss payment plans with your provider, or explore other financing options.
Final Thoughts
If you have questions about obtaining or interpreting a GFE for therapy, don’t hesitate to reach out to your provider. Understanding your therapy costs is a crucial first step in creating a stress-free path toward better mental health.
~Vierge