How Much Does Psychiatry Cost? A Complete Guide

Thinking about seeing a psychiatrist provider, but stressing over the cost? You’re not alone. According to the State of Mental Health in America, 1 in 4 adults with frequent mental distress skip seeing a doctor because of cost.

Before diving into the costs, it’s worth noting that psychiatrists differ from other mental health providers. Psychiatrists are doctors who specialize in mental health and can write prescriptions for psychiatric medication, which affects both the type of care and the costs involved.

“Untreated mental health conditions often create higher costs in other areas of life, such as missed work or physical health complications,” emphasizes Christina P. Kantzavelos, LCSW.  “Even short-term psychiatric support can make a meaningful difference, and many people find creative solutions through a mix of insurance benefits, sliding scale services, and support programs.”

Whether you’re managing anxiety, depression, ADHD, or another mental health issue, understanding psychiatric costs can help you make more informed decisions and find care that works for your life.

Insurance terms to know

Here’s a quick refresher on common terms used when talking about mental health costs. Skip ahead if you’re already familiar with them! 

• Copay: A fixed amount you pay for each visit (e.g., $30 per therapy session or psychiatrist visit)

• Coinsurance: A percentage you pay after meeting your deductible (e.g., 20% of the session cost)

• Deductible: The yearly amount you must pay before your insurance plan covers most psychiatric services

Psychiatry visits and costs

“It is important to consider not only the cost of medication itself but also the need for ongoing monitoring, lab work, and follow-up appointments,” reminds Kantzavelos. “Planning ahead and understanding what is covered by insurance can help reduce surprise expenses.” 

“The cost of psychiatric care is highly variable depending on provider-related factors (i.e., credentials and practice model), insurance systems, regional differences, and systemic influences,” explains Dr. Ryan Sultan, MD. “U.S. psychiatric care is highly privatized compared to other parts of the world. Urban centers like New York are much more costly due to higher demand and cost of living.”

Dr. Amanda V. Porter, PhD, APRN, gives an example of how education and experience can affect cost: “The cost to see a psychiatrist who has 5 years of experience will be higher versus seeing a nurse practitioner with 15 years of experience.”

This price variation comes from their different training. Psychiatrists go to medical school for four years, then do four more years of specialty training in psychiatry. Nurse practitioners attend nursing school and receive additional psychiatric training, but it takes fewer total years. More extensive education often means higher costs.

1. First visit (initial consultation)

The first appointment typically lasts 60-90 minutes, where the doctor will ask about your mental health history, current symptoms, and medical background. This helps the psychiatric provider (or mental health professional such as a medical doctor or psychiatric nurse practitioner) understand your needs and create a personalized mental health treatment plan for conditions like anxiety, depression, or bipolar disorder.

Cost

• Private insurance: $20-$75+ copay (varies by insurance plan and provider)

• Medicare: $60-$100+ or 20% coinsurance after deductible is met (varies by provider)

• Medicaid: $0-$5+ (varies by state and provider)

• Without insurance: $250-$500+ (depends on provider and location)

2. Follow-up sessions

These shorter appointments (15-45 minutes) help monitor your progress and adjust medications. How often you visit depends on your treatment needs and can range from weekly to monthly visits.

Cost

• Private insurance: $20-$60+ copay per session (varies by plan, provider, and location)

• Medicare: $20-$60+ per session or 20% coinsurance after deductible is met (varies by provider)

• Medicaid: $0-$5+ per session (varies by state and provider)

• Without insurance: $100-$350+ per session (depends on provider and location)

3. Psychological assessments

These specialized tests help diagnose specific conditions such as ADHD, autism, or other cognitive or developmental disorders. Psychological testing is typically performed by psychologists, which is why psychiatrists often refer people to psychologists for these assessments. Evaluations can last for several hours and often involve detailed written reports.

Cost without insurance: 

• Neurodevelopmental assessments (ADHD, autism, etc.): $1,200–$4,000+

• Neuropsychological testing (cognitive, memory, attention, executive functioning): $1,500–$6,000+

• Other specialized tests (personality inventories, cognitive screens): $1,000–$3,500+

Insurance may cover these tests, but you may need approval first, known as prior authorization or preauthorization. Coverage and out-of-pocket costs can vary widely depending on provider, insurance plan, and location. Costs may also be higher for complex or multiple mental health concerns.

4. Inpatient psychiatric care

Inpatient care involves staying at a hospital or residential facility for intensive treatment for severe conditions (e.g., severe depression, eating disorders, psychosis, or substance use disorders). Programs usually include 24/7 monitoring, medication management, and structured therapy.

Louise Norris, health policy analyst, explains that patients sometimes struggle to get health plans to approve necessary inpatient care. “When patients run into difficulties with using their health coverage for psychiatric care, it can put the cost of the care out of reach. Fortunately, there's an appeals process that patients and their doctors can use, but people don't always know what avenues are available to them in terms of appealing their health plan's decisions.”

Cost

• Private insurance: $200-$1,000+ per day (varies by facility, plan, and location)

• Medicare: Up to $400-$500+ per day or 20% coinsurance after deductible is met (varies by state and facility)

• Medicaid: $0-$50+ per day (varies by state and facility)

• Without insurance: $500-$2,000+ per day (depends on facility and level of care)

Costs can fluctuate significantly based on location, facility type, insurance plan, and level of care needed. 

Understanding the cost of psychiatric medications

Medications can be a significant ongoing expense in psychiatric treatment. Costs vary widely depending on your health insurance coverage, location, prescription type, and pharmacy. 

Factors affecting medication costs

• Generic vs. brand name: Generic medications typically cost 80-85% less than brand-name drugs while offering the same effectiveness. 

  • Examples include Zoloft (sertraline) and Prozac (fluoxetine) for depression or anxiety, Adderall (amphetamine) and Ritalin (methylphenidate) for ADHD, and Xanax (alprazolam) or Ativan (lorazepam) for sleep issues or anxiety.

• Insurance formularies: Your insurance plan’s “preferred” medications (known as a formulary) affect which drugs are covered and at what cost. Non-preferred medications may be more expensive.

• Pharmacy pricing: Prices can vary significantly between pharmacies, so comparing options can save money. 

  • For example, a 30-day supply of generic sertraline might cost $10 at one pharmacy but $18 at another without insurance. Use apps like GoodRx or SingleCare, or call local pharmacies to compare prices.

• Dosage and quantity: Larger doses or longer supplies (such as 90-day refills) may reduce the per-pill costs, while frequent refills may increase overall expenses. Even small differences can add up. 

  • For example, if you need 30 pills/month = that's 360 per year. If Pharmacy A costs $0.25 per pill (360 x $0.25 = $90/year), and Pharmacy B costs $0.60 per pill (360 x $.0.60 = $216/year), you could save $126 per year on a single medication.

Another tip from Dr. Cooper Stone, DO: “Generally speaking, at least within the field of psychiatry, newer medicines are not any more effective or better than older medications. Therefore, unless there is a compelling reason to prescribe a newer and more costly medication, the more tried and true, battle-tested, and robustly studied medications should generally be used first. More so if finances are limited.”

How different health insurance plans cover psychiatric care

Private

Coverage varies significantly by plan, but most private insurance companies are required to cover mental health services at the same level as medical services (thanks to the Mental Health Parity Act).

What’s generally covered:

• Psychiatric visits (in-person or telehealth)

• Psychiatric medications (via your plan’s formulary)

• Psychological or neuropsychological testing

• Inpatient psychiatric stays (with prior authorization)

Things to look out for:

• In-network providers vs. out-of-network: Staying in-network lowers your out-of-pocket costs significantly

• Mental health deductibles: Some plans have a separate deductible for behavioral health services

• Prior authorization: Certain medications, tests, or inpatient treatments may require approval first

• Formulary restrictions: Insurance may only cover specific medications unless your provider submits an exception

Medicare

Medicare covers both outpatient and inpatient psychiatric services. Coverage includes:

• Part A: Inpatient psychiatric hospital care (up to 190 days in your lifetime)

• Part B: Outpatient visits with psychiatrists, psychologists, or social workers

• Part C: Medicare Advantage plans are offered by private insurers and will provide the same coverage as Parts A and B (Original Medicare), but also may include additional benefits like telehealth access, lower copays, or drug coverage

• Part D: Prescription drug coverage for psychiatric medications

Important notes:

• You’ll usually pay 20% of the Medicare-approved amount for outpatient services

• As of 2025, there’s a $2,000 annual cap on out-of-pocket drug costs under Part D.

• Many beneficiaries qualify for Extra Help with prescription costs

• Non-emergency medical transportation is often included

Medicaid

More than one in three people with disabilities (approximately 15 million) in the United States use Medicaid. 

What’s generally covered:

• Psychiatric visits and medication management

• Psychological assessments and testing

• Crisis services and case management

• Inpatient psychiatric stays

• Non-emergency medical transportation (NEMT)

Important notes:

• Coverage details and provider availability vary by state

• Many states cover medications that private insurance may not

• Most services are free or low cost ($0-$5 per visit)

• Your state Medicaid office may have more information about medication assistance and discounted programs

How to save money on psychiatric care

Psychiatric cost savings

• Sliding scale fee: Many psychiatrist providers adjust their rates based on your income.

• Online psychiatry: Explore psychiatry platforms that offer remote psychiatric services.

• Community health centers: Many offer low- or no-cost psychiatric care. Search in the HRSA Find a Health Center tool, call 211, or use Google to search for “community mental health near me.”

• Additional therapy: Check out our breakdown of the cost of therapy to understand what adding talk therapy or cognitive behavioral therapy might cost.

Medication cost savings

• Discounts or other pharmacies: Use Cost Plus Drugs, GoodRx, RxOutreach, and explore other charitable pharmacies that aim to increase medication access.

• Generic prescriptions: Ask your psychiatrist about generic options or 90-day refills to provide more savings.

• Patient assistance programs (PAP): Free or discounted medications through pharmaceutical companies like the Abilify (aripiprazole) savings card. You can apply directly on a pharmaceutical website or by calling. Check out more tips on getting help paying for medications through the National Alliance on Mental Illness (NAMI) website.

Questions to ask your psychiatrist

When working with a psychiatrist, don’t be afraid to ask questions. It’s important to understand what you’re signing up for financially and regarding your mental health.

• Do you accept my health insurance plan?

• What’s the cost of an initial visit and follow-ups?

• Do you offer sliding scale pricing?

• Are telehealth appointments or talk therapy options available?

• Is there a generic version of this medication?

• Are there lower-cost medication options available or assistance programs? 

Ready to take the next step?

Understanding the cost of psychiatric care can help make informed decisions and budget appropriately for treatment. Costs vary significantly based on your insurance coverage, location, and specific treatment needs, but knowing what to expect can help you plan.

• Use our cost calculator to get a personalized estimate

• If you have insurance, call your insurance provider to verify your mental health benefits and in-network providers

• Contact potential psychiatrists to discuss fees and payment options

• Research medication costs using your specific insurance or discount programs

“Struggling with mental health can be hard and it can be costly, however getting help is also a long-term investment in yourself,” reminds Dr. Stone. “With the right treatment, it can drastically improve your quality of life, and it can improve the relationships that are most important to you.”

The road to mental health can be challenging and expensive, yet every step forward is a step toward a better quality of life.