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By Kristin Myers, Editor-in-Chief

ICYMI: Americans Are Quitting Therapy Due to Higher Prices

In case you missed it, Americans are giving up therapy as inflation makes things more expensive, a new Verywell Mind survey has found. Nearly half of U.S. adults said they are worried about the long-term affordability of therapy, and reported they will have to discontinue seeing their therapists if out-of-pocket costs increase even more.

Nearly two-thirds said they pay an average of $178 per month for out-of-pocket costs for therapy, with one-third of those surveyed reporting they have already canceled sessions and 39% saying they go to therapy less often because they can no longer afford the out-of-pocket costs not covered by insurance.

Survey respondents pointed to changes in insurance coverage, expiration of employee assistance benefits, and the expense of therapy sessions as the top cost-related barriers that caused them to quit therapy. Transportation was another top out-of-pocket expense for the 48% of respondents who drive themselves to therapy. They said they pay an average $164 per month on gas—a price that is even costlier now that gas prices are over $4 a gallon across the country.

One way to lower your therapy bill is to look for therapists that offer sliding scale fees, which are fees based on your income and financial situation. The survey found that only a little over half of respondents were aware of sliding scale fees.

Quitting therapy is an unfortunate reality for many U.S. adults, as 80% said they believe therapy is a good investment. They said seeking care for their mental health was hindered by financial barriers.

- Kristin

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Off the Charts

As the Memorial Day holiday unofficially kicks off summer this weekend, gas prices continue to hit record highs, reaching a national average of $4.60 a gallon this past week—over $1.50 more than this time last year, according to AAA. And 70% of GasBuddy users said those high gas prices are impacting their summer travel plans, up from 46% last year.

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