25. Pros and Cons of Insurance vs. Private Pay Practice

In this episode, we break down one of the biggest decisions for social workers considering private practice: should you take insurance, go fully private pay, or try a hybrid model? We talk through the logistics, mindset shifts, pros and cons, and the financial implications of each route. We also get into the emotional weight that comes with trying to build a sustainable practice while still staying aligned with your values, including the messy narratives around accessibility and burnout. Takeaways From This Episode: Starting with insurance might make sense for stability, but private pay gives you more freedom in the long run The real reason niching down matters How insurance audits, clawbacks, and low rates push therapists out of the system Being an anti-oppressive therapist isn’t only about taking insurance; there are many ways to practice social justice It’s okay to raise your private pay rate and be mindful of inflation If you’re starting out, there’s no shame in going into private practice early in your career Mentioned resources: Private Practice Checklist Download Text SOCIAL WORK to 33777 to join the newsletter! Check out the affiliated blog post for the full list of resources mentioned in this episode and the unedited transcript. Social Work to Wealth Newsletter — a newsletter for the social worker wanting to level up their career and money. Find Social Work to Wealth on: TikTok , Instagram , & YouTube . Disclaimer: The information presented in this podcast & on any affiliated platforms is for educational, informational, & entertainment purposes only and should not be construed as legal, financial, or professional advice. Consuming this content does not create an attorney-client relationship. If you need legal advice pertaining to your particular situation, consult one-on-one with an attorney.