Costs can add up to hundreds of thousands of dollars in treatment, but also other unforeseen expenses like childcare, legal fees and wrecked cars or homes.COLUMBUS, Ohio — Joe Smith did not picture raising his granddaughter at age 66, but when his daughter’s substance use disorder meant she couldn’t care for her child, that’s where Smith and his wife found themselves nineteen years ago.
The study also found that just one-third of those billions is borne by the government, with the remainder falling on the shoulders of individuals and the private sector. “The more we talk about it and every industry starts talking about it, the more successful we will be in combating the stigma and the more comfortable people will be reaching out and getting the treatment they need,” Seidt said.
Financial advisers have had to come up with ways to combat a multitude of financial crises, like increasing cybersecurity breaches or investment fraud targeting the elderly. Hollister said he sees addiction as the next crisis the country will need to set protocol for in the financial world, and he believes Ohio is a leading example for what other states should adopt.
His first round of treatment cost $10,000 out of pocket, even partially covered by private insurance. The second round was in a treatment facility in another state. Travel costs added up — plane tickets, hotel stays and food. Later, an intensive outpatient treatment cost another $5,000. When he was 18, she transferred him to Medicaid after a recommendation from another treatment facility, which helped ease some of the financial burden.