3 Ways to Finance IVF Treatments

Assisted reproduction technology (ART) describes medical treatments and processes that aid conception. ART is composed of many forms of reproduction technology, but the most well-known is in vitro fertilization (IVF).

IVF is a top reproduction treatment for individuals and partners seeking to conceive. Still, cost remains a deterrent for many people: IVF isn’t cheap. (One cycle averages $12,000.) The good news is that IVF is more accessible than ever before, including financially.

Medical insurance

Most insurance companies do not consider IVF treatments medically necessary and do not cover them. However, some states require insurance carriers to include coverage for IVF treatments.

Insurance companies that include coverage for IVF are Cigna, Blue Cross Blue Shield and Aetna. (If you have one of these carriers, check with your plan to see specific IVF coverage.) Some states mandate insurers to provide a plan that includes fertility treatments; these include California, Texas, Arkansas, Utah, Montana, Illinois, Ohio, West Virginia, New York, Maryland, Delaware, New Jersey, Connecticut, Rhode Island, Massachusetts and New Hampshire.

Still, medical insurance for IVF treatment comes with some caveats. For example, even for the limited number of medical insurance companies that do cover IVF, coverage is usually significantly low for fertility treatments and requires high deductibles and copays for enrollees. In addition, most states that require insurance companies to carry fertility treatment provisions only require basic and limited coverage.

Corporate fertility assistance

More and more companies are offering financial assistance for fertility programs for their employees to stand out to prospective applicants and retain current talent. However, corporate fertility financial assistance programs are mostly constrained to large companies in the finance and technology sectors.

Tech giants such as Google and Microsoft can withstand the expense of fertility treatment subsidies while smaller companies may find supporting fertility assistance more difficult. If you’re planning to use your employer to finance your IVF plans, you may have to refine your job search.

Fertility loans

In response to the demand, fertility loan companies emerged to provide lines of credit for individuals seeking fertility treatments. Fertility loans offer flexibility for IVF financing for borrowers. Instead of requiring borrowers to dip into valuable savings or retirement accounts, fertility loans allow individuals with limited monetary resources to retain access to IVF treatments based on their projected creditworthiness.

However, fertility loans come with risks. Fertility loans often require a borrower to take out lines of credit with high interest, and the amount a borrower can receive may be severely limited due to their credit level.

The cost of IVF does not have to serve as a deterrent to pursuing effective fertility treatment.. Talk to your fertility specialist today to discuss financing options.