Depression is Expensive, Denial Much More So
Posted on May 14, 2008 by Him and tagged depression, finances, health
I'm depressed.
There, I said it. Not just depressed like in a bad mood or someone just kicked my puppy, but actually clinically depressed. This has actually been a recurrent theme in my life, and I suspect that it's also tied in with Seasonal Affective Disorder as well, because this NEVERENDING CHICAGO WINTER has sucked the life out of me and the other few million Chicagoans around here. The thing that was different about this time is that it has never been as bad as it has been the past few months.
Since this is a financial blog, I'll go about how dealing with depression can affect one's finances. Let me correct that: I'll go about how trying to thwart depression by doing everything except getting treatment can affect one's finances.
One of the crappiest symptoms of depression is losing pleasure or interest at things that used to offer them normally. When I first started feeling pretty crummy, I thought to myself, "Maybe if I go out with friends/eat at a nice restaurant/buy myself something I've put off for a while now that I'll feel better." I actually chose all 3 of those routes: I went out with friends more, went out for more meals, and bought myself a used Nikon D200
A few months ago, Her and I agreed that my depression started to affect our relationship; there's no money in the world that would be able to magically fix that. So I decided to go and see a therapist that I saw a few years back.
Seeing the therapist isn't cheap; when I saw her in prior years my out of pocket costs were about $75 a session, with the rest taken care of by my insurance company. Now that I have an HDHP/HSA I have to to take care of most of the fee out of my HSA account. Since there really wasn't anything going on in my life that could have been causing my depressive state, I was referred to a psychiatrist. The psychiatrist proceeded to prescribe an anti-depressant for me. Due to the way that payment is handled with the HDHP/HSA account, the costs of both seeing the psychiatrist and the meds will be revealed to me at a later time. I've just started on the meds, so only time will tell if this particular one is worth the money.
Depression sucks. Other than the obvious joy-deflating and relationship straining properties, depression can have major financial ramifications as well. Therefore, if you're feeling depressed or just not right, there's no shame in going to a psychiatrist/therapist/someone who loves you to talk about it. My method of "self-medicating" by blowing all sorts of money got me nowhere (well, I do have a sweet camera). The depression also messed with my concentration and sleep, making it difficult to focus on my job, this blog, our finances, and my life in general. If went unchecked, a lot of stuff could possibly have been messed up.
Right now I'm grateful for a few things: insurance for making all of this vastly possible without completely breaking the bank; the availability and acesss to great healthcare providers; and most importantly, Her, for sticking with me, offering her support, and remembering that we're a team.
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ldub | May 14, 2008
amen... now that i'm getting therapy, taking medication, and focusing on my finances instead of ignoring them, i feel like everything's coming together. it's important to watch out for our total fitness, not just fiscal fitness! good for you.
I'm 100% with you on this one. I've been depressed for a very long time and it definitely takes a toll on my finances.
Josh | May 14, 2008
Suffering from SAD myself, I have found that cardiovascular excercise (30-60 min) 3-5 times a week has worked for me in the past. It also has other benefits as well. The key is not to stop when you feel better.
Sorry to hear that. I've been depressed and maybe am a little now. As I lose interest in doing much I don't really spend much money the more depressed I get, except maybe on alcohol...
I have been chronically depressed at least since I was a teenager, but just started going to a psychiatrist last year. My antidepressant only costs $10/month, and it is the best thing I've ever done. I used to shop when I was bored/depressed and rack up debt. Now I have so much energy and motivation, it's unbelievable. Taking the initiative to get help was the hardest part, but it's so worth it. Congrats.
I am sorry to hear this.
Perhaps it's good not to know that we have depression, then it may be easier to get rid of this.
Whenever I feel down, I try to sing. Just sing...and soon the feeling lifts.
Sarah | May 15, 2008
Your title is so true. My husband (boyfriend at the time) thought it'd be better to push his feelings under the rug, and ended up in a psych ward for 6 days. BUT, that was 4 years ago and life is so much better. He is now able to halve his medication, doesn't see his counselor as much, but all of this took significant time and money. It was worth every minute and penny.
The sad thing is the state of mental health care in the US. We're building multi-million dollar heart clinics, but my niece was in a bad spot and wanted to be admitted, and there wasn't an adolescent bed in the psych ward available in the entire state. Want to do something? Write to your congressperson. I am.
beatrice | May 15, 2008
I am very sorry to hear about your illness. There are two people very dear and near to me who suffer from depression so I know how devastating it can be to people's lives. You were smart to seek professional help. Best of luck to you.
Amen - I suffer from depression as well, and it can be a financial disaster if you miss work, or shop to make yourself feel better.
I've been medicated for 10 years and one of the things I do is talk about it publicly. It's funny when I tell people that I take medication - the first thing they say is "but you're so normal". Uh, yeah - that's because I take my medication.
I remember when I was forced (by some friends...intervention-style) to get help. Probably the best thing they ever did for me.
I hope the first antidepressant works well. Once you find one that does (in my experience), therapy becomes a lot more productive. It's like trying to be patient with low blood sugar, your body needs the food (or the missing seratonin).
maclae | May 16, 2008
Its ironic that you bring this up b/c I'm just coming to terms with the reality that most of my financial problems are deeply tied into my struggle with depression as a young adult. Instead of getting help, I retail-therapied my way into some pretty massive debt.
Now at 26, my mental state is much more stable and I'm being to fix my past mistakes. I'm finally strong enough to admit I may need medication and thankfully have the insurance and means to get it taken care of.
I am (and a few of my immediate family members are) having tremendous success on a new (and sort of unusual) medication. It's called Deplin -- form of folic acid -- and after being on every medicine that was out there in my teens, I can't sing the praises of this new drug enough -- NO (nada, ZEROOO) sideeffects!! Of course, my insurance doesn't cover it, but there's a coupon on their website :)
We lived through this, and my husband reacted to his depression the same way you did. We went through 2 series of credit card bill run-ups, which he would hide because he was ashamed, which would make his depression worse. Three years ago, he was diagnosed and went on anti-depressants, as well as talk therapy. Things are a thousand times better, we've dealt with the debt, and things are much more peaceful in our home. Kudos to you for recognizing your problem and working on it, and to Her for supporting you (at times it's not easy).
I found you through The Simple Dollar, and I wanted to thank you for this :)
I know that for me, I always feel a little guilty for seeing a therapist, like, "There's nothing all that wrong with me, who do I think I am to deserve this?" It's helpful to think of depression, then, in terms of what financial value it takes away from your life.
Prairie | May 21, 2008
I've been fighting very serious Depression for over a decade. It has cost me relationships, friendships, a job and my credit rating.
I've only recently paid off the tens of thousands of dollars of debt that were the result of Depression. That debt came about in different ways, but it all links back to the Depression.
As Him said, there was the pursuit of something, anything that might make me "happy." I would sign up for "fun" classes - and then never go. Join a gym because exercise is supposed to help - then never go. (And paying to get out of that contract was insane.)
There was lack of attention to my bills which resulted in late fees and sky-high interest rates.
There were all the meals out and high-cost convenience foods because I was always too tired to cook.
There was money lost because I didn't follow through on things like reimburseable expenses and rebates. Or it was too much bother to return things.
There was all the money thrown at a weight loss program because I thought if I could just lose some of this weight, I'd feel better about myself. That worked, kind of, until I cycled back into another round of deep Depression and my shakey lifestyle changes fell by the wayside.
There was the expense of looking for and moving to a new job. (Thank god I found one.)
There are thousands of dollars worth of co-pays for psychiatrists, psychologists and medication, although those are worth every penny if they help me have a life.
There was/is the fact that my mental health co-pays are higher than what is charged for "physical" illness.
My latest, unpleasant discovery in this department has to do with how insurance companies outsource the mental health coverage. I was all set to go to a topnotch facility for additonal evaluation and treatment. This decision was not made on a whim, as it was supported by my local health care providers who were stumped and by my loved ones who have watched me suffer for years. Then I made the discovery that this facility - oh heck, it is Mayo Clinic and their Mood Disorder Unit - are considered out of network by my insurance provider for mental health treatment. If I had a "real" illness, I could afford to go to Mayo for it as that would be in-network. However, because I have a mental illness and that part of the coverage is provided by an organization that does not have the same contract with Mayo's as my "main" insurance, I can't afford to pick-up 40% of the bill. I was desperate enough that I paid out of pocket for the initial evaluation, but I can't absorb potentially tens of thousands of dollars to pursue their recommendation.
So much for my conversation with the HR person when I started this job. When reviewing the multiple options per health insurance, I said, "I want the one that if I have an 'Oh my god I need to go to Mayo Clinic' type illness, I can go." The HR person said, "You want this plan." (The most expensive, of course.) What nobody realized until I needed it was that while the insurer has provided "inclusion" for the mental health, it doesn't provide "parity."
I'm screwed and now trying to cobble together affordable, in-network resources. (I'm also hampered by being in an underserved area. As Sarah said, there's a decided lack of facilities.) At least I have health insurance. I know many in this country don't.
(A tangential rant - God help all the Vets who are returning home with PTSD and other mental health issues. It will be interesting to see what the government does to help them.)
Prairie
Isabel | May 21, 2008
I am depressed, have been for two decades now. I don't do retail therapy, thankfully, or I'd be in debt too.
Thanks for posting this.
Thanks for being so open with this. You can tell by the comments that you've touched a number of people. If more people were as open as you, finding health insurance that covers depression might be a lot easier. I'm glad you're covered. Best wishes.
Jennifer | May 22, 2008
I have done retail therapy too, and am now in debt up to my eyeballs -- and so ashamed, always trying to hide the bills from my husband. I'm getting better, but it's a slow process.
Fortunately I've found a great psychiatrist who's not afraid to make bold moves in terms of medications, and I am starting to see vast improvements in my mood. He also encouraged me to get a light box, which I use all year round and not just in the dismal winter months, and I find that the more I use it the calmer and generally less tortured I feel. It was a ~$200 expense 18 months ago, but it's definitely earning its keep.
JohannaB | May 22, 2008
My battle with depression started at age 15. I have now been in remission for nearly 10 years. I will probably be on antidepressants (specifically SSRI's) for the rest of my life. It's worth it though to feel normal or what I assume is normal. Best wishes on your journey.
Leslie D. | May 23, 2008
Like many others, I've suffered from depression most of my life. It took many tries to find a medication that actually helped. I also have a counselor who has been a huge help. Having a relationship with Jesus Christ has literally saved my life. Without Him, I would have suicided out. I hope people reading our comments will realize depression is nothing to be ashamed of. It's a problem that needs treatment. Thank you for using your blog to put the information out here about depression and how it can damage one's financial situation. The healthier I become the easier it is for me to be smart about money. I hope things improve for you long term!
Andy | May 24, 2008
Since I just got done sleeping for 15 hours, I'd say my depression is back as well, no more denying it. I haven't had time/energy to sit down and set something up with a psychiatrist in the area, so who knows what's going to happen.
I can offer some advice on the financial aspect of dealing with it however. If your psychiatrist wants you to try name brand drugs, ask him if he can provide you with samples. I had a psychiatrist in college that provided me with samples for several months before he switched me to a drug that had a generic.
Also, shop your prescription around. I was paying close to $90/mo for generic Prozac at CVS and then read a post on GRS about shopping prescriptions around. Low and behold, I took my prescription to target and my expense dropped to $4/mo.
Hope this helps you out a bit.
JustJen | May 14, 2008
Depression is the worst. I've suffered all of my life.
If these meds don't work, be ready for the many others. It took a year to find one that worked for me. Then I lost my insurance.
Good luck.
J
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