Your Financial Guide to Living With Major Depressive Disorder
Health ConditionsMental Health ConditionsDepression

Your Financial Guide to Living With Major Depressive Disorder

Your Financial Guide to Living With Major Depressive Disorder
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Published on November 13, 2025
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Major depressive disorder (MDD) not only takes a toll on your mental health, but can also put a strain on your finances.

The cost of treating depression in the United States topped $320 billion in 2018, according to the most recent data available. But surprisingly, the direct costs of treating depression, such as paying for medication and seeing a therapist, only accounted for about one-third of that total. The other two-thirds were attributed to indirect costs — specifically, a loss of workplace productivity.

“There are costs for care, but there are also costs to not getting care,” says Moria Joy Smoski, PhD, an associate professor of psychiatry at Duke University School of Medicine, in Durham, North Carolina. “Depression has costs in lost productivity, missed days of work, and perhaps feeling like you have to work twice as hard to keep up.”

Between the direct and indirect costs, the financial burden of MDD can add up. Here’s how to streamline your finances and cut back on both medical costs and personal expenses.

The Costs of MDD

Understanding the costs of living with MDD is the first step toward getting a handle on your finances.

Therapy

“Psychotherapy can have high up-front costs,” says Dr. Smoski, “but there are some studies showing it can be cost effective, compared to medication, in the long run.” Therapy sessions can range from $100 to $200, depending on insurance coverage. On average, adults attend anywhere from 8 to 28 sessions.

The effectiveness of talk therapy can vary from person to person, depending on the severity of the condition. But some research suggests people see an improvement after about 13 sessions.

Prescription Medications

Antidepressants, which are also used to manage mild-to-moderate MDD, come with a cost, although research shows a decline in recent years — from about $31.6 billion in 2010 to $20.4 billion in 2018. This is largely due to the availability of generic medications.

 Seeing a primary care provider, as opposed to a specialist (such as a psychiatrist), can also help keep costs down, says Smoski.

The caveat: “Only about half of people who try a first-line medication have a positive response to it, and costs can go up if more specialized care is required,” says Smoski. Also, even if your insurance covers the medication and many of the doctor’s visits, you may still be responsible for a copay, which should be the same price you would pay for a regular doctor’s visit, says Lokesh Shahani, MD, PhD, a board-certified psychiatrist with UTHealth Houston.

Hospital Stays

Other MDD expenses include inpatient hospital stays, such as at a psychiatric hospital, and any treatment they may do there. The costs for all of these treatments can depend on whether you have health insurance, what your deductible is, and how extensive your coverage is.

Indirect Costs

There are also the “hidden” costs of MDD, which often go unacknowledged. This is especially true when it comes to a loss of workplace productivity: About 70 percent of these costs are attributable to presenteeism — where you’re physically present at work but not functioning well — while the other 30 percent is attributed to absenteeism. “One of the big symptoms of depression is poor focus and concentration, and that can have a direct impact on your work,” says Dr. Shahani. “You might not be promoted, or if you’re not meeting your employment goals, you might be at risk of losing your job.”

Then there are the potential costs of neglecting your daily responsibilities, including doing chores and paying bills.

3 Ways to Manage the Direct Costs of MDD

If you’re struggling to afford treatment for depression, use these strategies to cut down on your out-of-pocket expenses.

  • Understand your insurance. Before you start seeing a therapist, check your health insurance plan to make sure they’re in network. You can save a significant amount of money by seeing someone who is in network versus out of network. You may also be able to pay for therapy sessions using a Health Savings Account (HSA) or Flexible Spending Account (FSA), which you can fund with pretax money to pay for healthcare costs.
  • Explore low-cost and free treatment options. Some health centers provide free or low-cost care to people without health insurance, and your state’s mental health and substance use agencies may be able to help you find affordable treatment. If the cost of medication is a burden, research patient assistance programs, where the pharmaceutical company helps cover the cost. Medicaid also covers specific mental health treatments for those who qualify.

  • Talk to your doctor about medication costs. Your doctor may be able to prescribe a less expensive medication, such as a generic, to help you cut costs, says Smoski. (Sometimes, though, there may be a reason to use a newer, more expensive option, she notes.)

How to Handle MDD-Related Financial Challenges

Living with MDD can make even the simplest tasks feel overwhelming. “One of the hardest things is having to motivate yourself to do things, even when you truly don’t feel up to it,” says Smoski. Here are a few things you can do to streamline your finances and make life easier:

  • Automate your bills. If you can, set up automatic payments for your car, mortgage or rent, and student loan payments. This can save you the effort of writing checks every month — plus the cost of postage stamps.
  • Enlist the help of an accountability buddy. For more difficult tasks, try asking a loved one to keep you accountable, says Smoski. Or download an app that encourages you to make progress on certain goals, she adds. “Not having to rely on just yourself for motivation all the time helps,” says Smoski. Apps such as Habitify and Finch can help you keep track of daily tasks and build habits.
  • Consider joining a support group. You don’t have to go it alone. “Organizations like the National Alliance on Mental Illness have free peer support groups, and some have peer-to-peer support options … for people going through similar struggles,” says Smoski. “If you are part of a faith community, there may be support groups there as well.”
  • Ask about personal assistance services. Some employers offer personal assistance services, which can help you perform daily activities, such as cooking and cleaning.

     This may help ease some of the burden of depression, which may improve your quality of life. Check with your employer’s human resources department to see if they offer any benefits that may help.

The Takeaway

  • Living with major depressive disorder not only affects your mental and physical health but also poses a significant financial burden.
  • If you’re struggling with the financial costs of treating MDD, explore the mental health benefits offered by your health insurance, or seek out free or low-cost treatment options offered by community health centers and programs.
  • Consider using strategies such as automatic bill pay to manage daily financial obligations. For help with accountability and motivation, enlist the support of family members, friends, and peer groups.
EDITORIAL SOURCES
Everyday Health follows strict sourcing guidelines to ensure the accuracy of its content, outlined in our editorial policy. We use only trustworthy sources, including peer-reviewed studies, board-certified medical experts, patients with lived experience, and information from top institutions.
Resources
  1. Greenberg PE et al. The Economic Burden of Adults With Major Depressive Disorder in the United States (2010 and 2018). PharmacoEconomics. June 2021.
  2. Depression Treatment for Adults. American Psychological Association. 2019.
  3. Cuijpers P et al. How Much Psychotherapy Is Needed to Treat Depression? A Metaregression Analysis. Journal of Affective Disorders. July 2013.
  4. Low-Cost Treatment. Anxiety & Depression Association of America. July 29, 2025.
  5. Personal Assistance Services. U.S. Department of Labor Office of Disability Employment Policy.
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Lee S. Cohen, MD, is an associate professor of clinical psychiatry at Columbia University Irving Medical Center, maintains a clinical practice focused on expert and complex diagnostics, and is considered an international expert in clinical psychopharmacology. He is also the director of the Clinical Neuroscience Center, involved in innovative development and discovery of new compounds for neuropsychiatric conditions and directly consults with multiple pharmaceutical companies worldwide.

Dr. Cohen graduated from the Sophie Davis Biomedical Education Program at the CUNY School of Medicine at The City College of New York, an accelerated six-year BS/MD program. He then completed his MD at SUNY Stony Brook School of Medicine.

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