Investing in your mental health is one of the most important decisions you can make, but the cost of treatment can sometimes feel overwhelming. Ketamine therapy, a cutting-edge treatment for depression, PTSD, and other mood disorders, isn’t always covered by insurance, leaving many patients searching for ways to finance their care.
One of the most commonly asked questions is “Does CareCredit cover ketamine for depression?” The answer is yes, many ketamine treatment providers do accept CareCredit, including Anew Therapy. This makes CareCredit a great option for patients exploring newly available treatment options that are not always covered by traditional health insurance. In this guide, we’ll walk you through how to use CareCredit for ketamine treatment, explore ketamine therapy payment options, and discuss alternative ketamine treatment financing options to help you make an informed decision.
What is CareCredit and How Does It Work?
CareCredit is a healthcare-focused credit card designed to help individuals finance medical expenses, including those not typically covered by insurance. It offers short-term financing (often interest-free if paid within a certain period) as well as longer-term payment plans for higher-cost treatments.Many healthcare providers accept CareCredit for dental care, vision care, cosmetic procedures, and even veterinary services—but what about ketamine therapy?
Does CareCredit Cover Ketamine for Depression?
If you’ve been wondering, “Can you use CareCredit for ketamine treatments?”, the answer is yes, in many cases. Many ketamine clinics have partnered with CareCredit to help patients afford their treatments, including Anew Therapy. However, whether your provider accepts CareCredit depends on the individual clinic.
To find out if a specific ketamine clinic accepts CareCredit, you can:
- Visit the CareCredit website and use their “Find a Location” tool to search for ketamine providers.
- Call the clinic directly and ask about their accepted payment methods.
- Check the clinic’s website, as many providers list financing options online.
How to Use CareCredit for Ketamine Treatment
If you’re new to CareCredit or have never used it for mental health treatments before, here’s how to get started:
1. Apply for CareCredit
Applying for CareCredit is a straightforward process. You can apply:
- Online at CareCredit’s official website.
- By phone by calling CareCredit’s application hotline, (800) 677-0718.
- At participating provider offices that accept CareCredit.
Approval is often instant, and credit limits are based on your creditworthiness.
2. Choose a Payment Plan
CareCredit offers various payment options, including:
- 0% interest if paid in full within 6, 12, or 18 months (depending on the provider).
- Longer-term financing (24-60 months) with a reduced APR for higher-cost treatments.
3. Use Your CareCredit Card for TreatmentOnce approved, you can use your CareCredit card just like any other credit card at participating ketamine therapy clinics. Be sure to confirm financing details with your provider before proceeding.
Other Ketamine Therapy Payment Options
If CareCredit isn’t the right fit, or if your provider doesn’t accept it, there are still other ways to finance ketamine therapy.
- Health Savings Accounts (HSA) – If you have a Health Savings Account (HSA), you may be able to use these pre-tax funds to cover ketamine therapy costs. However, eligibility depends on whether your plan classifies ketamine administration as a qualified medical expense. It’s best to verify with your HSA provider and tax professional before using funds.
- Flexible Spending Accounts (FSA) – Similar to HSAs, Flexible Spending Accounts (FSAs) can sometimes be used for medical treatments, including ketamine therapy. Since FSA funds typically expire at the end of the year, checking with your benefits provider early can help you maximize your balance before it resets.
- Employer Wellness Benefits or Reimbursement Programs – Some employers offer mental health stipends or wellness benefits that can be used toward treatments like ketamine therapy. If you’re unsure, check with your HR department to see if any reimbursement options are available.
How Much Does Ketamine Therapy Cost?
The cost of ketamine treatment varies by location and provider, but on average, it ranges from:
- $275 – $500 per session for intramuscular (IM) or sublingual treatments.
- $330 – $600 per session for IV infusions.
- $2,000 – $4,000 for a full series of 6 initial treatments.
Since many clinics recommend an initial series of 6 treatments followed by maintenance sessions, financing options like CareCredit can be essential in making treatment more accessible.
Anew Therapy Utah provides full visibility into the pricing of ketamine therapy services, so new patients can be empowered to plan their finances before booking their initial intake appointment.
Pros and Cons of Using CareCredit for Ketamine Therapy
Before using CareCredit, it’s important to weigh the benefits and potential drawbacks.
Pros:
- Immediate access to treatment – No waiting for insurance approvals.
- Flexible payment options – Choose an interest-free plan if paid within a set period.
- Widely accepted – Many ketamine clinics already accept CareCredit.
Cons:
- Approval depends on credit score – Not everyone qualifies.
- Not every ketamine clinic accepts CareCredit – You’ll need to confirm with your provider.
- Interest can accrue – if payment timeline exceeds the free period (usually between 6-18 months)
Searching for the best ketamine clinic in Utah? Anew Therapy offers expert care and proven results. Schedule your free intake appointment today.
Frequently Asked Questions
Can I Use CareCredit for Mental Health Treatments Other Than Ketamine?
Yes! CareCredit can be used for psychiatric care, therapy, Transcranial Magnetic Stimulation (TMS), Spravato, and other mental health treatments, depending on the provider.
Are There Any Hidden Fees with CareCredit?
CareCredit does not charge an annual fee, but interest rates can be high if balances aren’t paid within the promotional period (typically 6-18 months). Always read the fine print before committing.
Can I Use CareCredit for Ketamine Treatment If My Insurance Covers Part of It?
Yes, CareCredit can be used to pay for any remaining out-of-pocket expenses after insurance has paid its portion.
What If I Get Denied for CareCredit?
If your application is denied, you may want to:
- Check other financing options like personal loans.
- Apply with a co-signer to improve approval chances.
- Consider Spravato esketamine spray, a derivative of ketamine that shares many of the same benefits and is often covered by insurance for treatment-resistant depression.
Final Thoughts: Making Ketamine Therapy Affordable
Your mental health is worth investing in, and financial constraints shouldn’t prevent you from accessing life-changing treatment. If you’ve been considering ketamine therapy but are worried about the cost, options like CareCredit, medical loans, and insurance-covered alternatives such as Spravato can make treatment more accessible.
At Anew Therapy, we’ve partnered with CareCredit to ensure that ketamine therapy is as affordable as possible for our patients. If you have questions about using CareCredit to finance your treatment at Anew Therapy, click here to get more information or reach out to us today.
Your mental health matters. Let’s find a way to make treatment work for you.
