Personal Finance

“THE HIGH COST OF COPING” – MONEY MAGAZINE

Taylor Tepper and Elizabeth O’Brien

Nearly one in five American adults annually experiences anxiety, depression, substance abuse, or another mental, emotional or behavioral disorder. Dealing with these challenges on a daily basis is difficult enough, but factoring in the high costs of treatment adds another level of stress for individuals and their families. A team of reporters from Money Magazine explored this often overlooked subject, noting that patients bear 16% of the total cost of mental-health treatments, the highest portion of any common illness studied, including high blood pressure and diabetes. Finding quality in-network care can be arduous, prescription drugs are an ongoing expense, and intensive care remains a budget-buster. And, despite changes to the parity law about treating mental-health claims, insurers still put up roadblocks for coverage for mental health and substance abuse. Money’s series was accompanied by moving videos that brought a personal perspective to this issue, while the reporters offered up useful advice about navigating the many financial hurdles consumers face, including how to tell your boss about your mental health diagnosis, securing insurance coverage, doing research about quality mental-health resources, and making complaints to government officials.

Gerald Loeb Awards 2017