Insurance 101: Coverage Explained
At Balancing Minds Wellness, we believe care should be accessible and affordable. We offer 45, 60, or 90-minute sessions tailored to your needs. Before starting, check if your insurance plan includes out-of-network coverage.
What’s Covered?
- Deductibles – What you pay before insurance begins covering services.
- Coinsurance – The portion deducted from the reimbursement check you receive after submitting claims.
Key Terms
- Deductible: Amount you pay out-of-pocket each year before insurance starts covering costs.
- Coinsurance: After your deductible, your insurance shares costs with you. For example, if your coinsurance is 20% and the session fee is $325 (for a 45-minute session), your insurance will cover 80%. Your reimbursement check would be $260, reflecting insurance’s payment minus your $65 coinsurance.
- Out-of-Network: We don’t contract directly with your insurer, but many plans still offer benefits.
How to Prepare
- Ask your insurer about out-of-network coverage for mental health.
- Check your deductible status.
- Find out your coinsurance percentage.
Understanding these details helps you begin therapy feeling confident and prepared.