According to the N.C.S.L, the average cost of a single IVF cycle falls between $14,000 and $20,000. Most people who pursue IVF see their savings and bank accounts dwindle with every cycle. Even with insurance, deductibles and co-insurance can be high. Things like medication and genetic testing may need to be paid for out-of-pocket. Financing your IVF journey can be intimidating, especially since most people need multiple rounds of IVF. There are ways to pay for IVF without going broke. Here we’ll discuss 7 ways to afford IVF so that you can pursue your dream of a family.
1. Consider a Fertility Loan
Fertility loans can be one way to help you finance your IVF treatments. Make sure that you research your options. Some short-term loans have high interest rates. Tools like a loan repayment calculator can help you make an informed decision. One loan company, Sunfish, also has a cost calculator so you have a better idea of how much you may need to take out for a loan.
2. See If You’re Eligible for Grants
There are many fertility treatment scholarships and grants available. Each has its own requirements for eligibility. Resolve, the National Infertility Association has created a list of grants to consider. Grant and scholarship eligibility is sometimes based on location, financial need, and infertility diagnosis.
3. Look for Lower Cost Medications
IVF medication is often one of the biggest expenses, even with insurance coverage. Most medications are specialized and can cost thousands of dollars. Sometimes dosages are changed and multiple medications are typically used during a stimulation cycle. There are many people undergoing IVF donate unused medications to their IVF clinics. Some patients also order their medications from abroad to save money. In addition, ask your clinic if they have a package deal with a specialty pharmacy. Lastly, some drug companies offer discounts to those who qualify.
4. Find an Employer That Offers Fertility Coverage
Some states mandate insurance companies to cover IVF. In many other states, coverage is up to the employer. There are several companies that have committed to offering fertility benefits like Starbucks. If your current job doesn’t offer fertility benefits, it’s worth having a conversation with HR.
5. Visit a Fertility Clinic with a Flat Rate
Some fertility clinics make treatment more affordable by offering a flat rate per IVF cycle. For example, CNY Fertility offers IVF at a base rate of just under $5,000. This doesn’t include medications or monitoring appointments. Make sure you understand what’s included in the quoted price before signing up at these clinics.
6. Skip Expensive Add-Ons
Many things can be pursued in addition to IVF treatments. Acupuncture is usually used as a complement to treatment, though its role in increasing success rates is unknown. If you are struggling to cover the costs of IVF, it might be beneficial to skip trips to an acupuncturist that usually aren’t covered by insurance. If you’re worried about the cost of the treatment, you might not be able to relax and enjoy the benefits of acupuncture. The same is true for expensive supplements and vitamins. Many companies will try to sell you the benefits of expensive fertility supplements, but there’s little evidence that they work. Instead, save your money for better uses.
7. Consider If You Need Genetic Testing
Unfortunately, a genetically normal embryo doesn’t always lead to a live birth. Speak with your doctor and a geneticist to see if genetic testing is right for you. There are two kinds of preimplantation genetic testing or PGT. PGT-A looks for aneuploidy, which screens for the correct number of chromosomes in an embryo. Generally, insurance will cover PGT-A. However, if you are a carrier for a gene mutation PGT-M may be needed. This is a specially designed test that screens for specific gene mutations that one or both parents carry. Insurance typically doesn’t cover this test and it can be costly.
Affording IVF Treatment
Most Americans make around $60,000 per year with not much room for discretionary spending. This can make affording IVF challenging, but not impossible. Hopefully, these 7 ways to finance your IVF treatments have given you the insight needed to start planning your journey.