Financing In Vitro Fertilization Tips

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How can I finance IVF?

In Vitro Fertilization Financing

Though not all insurance plans will finance IVF, there are some options to help you cover the costs of this infertility treatment:

  1. Health insurance - check with your insurer regarding any coverage for infertility treatment. As this is becoming a greater need in our society, some insurance carriers offer at least limited benefits.
  2. Shared Risk® - your Fertility Clinic may have a program where they will assist you with your IVF financing, utilizing shared risk, like HMO's do
  3. Personal Loans - this is another option if your health insurance plan does not cover infertility treatment, and your Fertility Clinic is not able to offer shared risk IVF
  4. IVF loans - financing through companies that specialize in loans to treat IVF
  5. IVF Refund - a program where you pay for your IVF cost, but receive money back if the IVF is not effective
  6. Low cost IVF - reduced-cost treatment programs
  7. Flat rate programs - you pay a flat rate up front, which may be somewhat higher than one cycle cost, which includes as many embryo transfers as it takes to become pregnant. You get a refund, if pregnancy is not achieved.
There are many different options for financing infertility treatments and, specifically, financing IVF. Talk with your Fertility Clinic and then a Financial Planner to help determine which payment options best meet your special individual needs.

How do I go about getting IVF insurance?

In Vitro Fertilization Insurance

Many health insurance plans cover some fertility treatment, but may not cover IVF. That leaves personal loans. reduced cost plans and other financing options, which can be costly.

There is another option, however, to assist with paying the cost of IVF - Infertility Health Insurance or IVF Insurance. Some specialized insurance providers actually have plans specially designed for fertility treatment and for IVF. IVF Insurance is designed to take into account the specific risks associated with IVF procedures, from repeat cycles to achieve success, to multiple birth than can incur intensive care costs for premature infants.

Some insurance companies that provide fertility insurance coverage, and that may include IVF Insurance, include:

  • Aetna
  • Beechstreet
  • Blue Cross
  • Choice
  • Cigna
  • Coventry
  • Evolutions
  • First Health
  • Guardian
  • Georgia First
  • Mail Handlers
  • One Health
  • Southcare
  • Unicare

Are public funds used for IVF financing?

Public Funds and In Vitro Fertilization

Most persons seeking fertility treatment, including in vitro fertilization (IVF) are responsible for paying the bills for such services. This payment is managed using personal loans, Shared Risk® plans, low rate plans or other types of personal financing, when health insurance does not cover the costs.

There is concern, in many States, regarding the use of public funds for in vitro fertilization. Kentucky, for example, will utilize public funds for in vitro fertilization as long as no embryos are killed. This ties into their law regarding no public fund use for abortions.

Part of the this concern is related to stem-cell research, for which researchers are seeking public funds, justifying that the product of the research will benefit mankind. Though not directly related, there are social and moral concerns regarding the use of public funds to produce embryos outside the human body.

A social view of the situation includes that, if a person is requiring public funds, the question may be asked whether they are capable of providing for the child, once conceived, and if society should bear the burden not only for the creation of the child, but also for raising it.

Morally, many argue that since creation of a life - the embryo - is immoral in relation to some religious convictions, society, as a whole, should not be party to its creation or perseverance of the immorality.

Generally speaking, public funds are not utilized for fertility treatment, including IVF financing, unless specifically identified in an individual State's laws related to the use of embryonic technology.

What are third party loans in terms of financing IVF?

Third Party Loans for In Vitro Fertilization

Financing In Vitro Fertilization (IVF) can be challenging, at times, due to the risks associated with procedure, including multiple births which may require intensive care due to prematurity, need for more than one cycle to achieve conception. Many health insurance plans may cover infertility treatment, however do not include IVF in their coverage.

Personal loans, Shared Risk® plans and lower rate plans are also IVF financing options, as is the use of third party loans.

Third party loans involve companies that specialize in financing fertility treatments, including IVF. These Financial Centers have responded to the growing infertility treatment market, and cater only to persons in need of fertility treatment services. The loans may be at a lower interest rate than traditional personal loans and do not usually require collateral.

Your fertility clinic or specialist may be able to refer you to a third party for IVF refund financing options, and for financing of other infertility services, if needed.

What is "shared risk" in terms of IVF?

Shared RiskŪ and In Vitro Fertilization

Financing in vitro fertilization (IVF) can be challenging in light of the lack of coverage by many insurance companies. Personal loans can have hefty interest premiums and many people cannot pay cash up front. This is where Shared Risk® IVF plans can be beneficial.

Shared risk is exactly what it sounds like. The Fertility Clinic assumes some of the risk of the treatment, banking on their ability to achieve conception. Some clinics will provide fixed rate payment plans to cover a specific number of cycles at discounted fees, with refunds of program fees if conception is not successful after the cycles, or if treatment is concluded before completion. If all contracted cycles are utilized to produce the child, the couple receives the cycles at a discounted rate. If a baby is conceived prior to the final treatment, the clinic keeps the entire fee. This structure provides a discount in treatment for the parents, if it takes several cycles to conceive and deliver a child, and a bonus to the clinic for early success, which is an incentive to the clinic.

Talk to your Fertility Clinic about shared IVF payment options to assist you in achieving your goal of conception and birth.

Can I use personal loans to pay for IVF?

Personal Loans and In Vitro Fertilization

Since many health insurance plans cover fertility treatment, but not in vitro fertilization (IVF), couples and single women are left to seek alternative financing options, which can include: IVF Insurance, Reduced Rate plans, and Shared Risk® plans.

Another option is personal loan for IVF financing. These loans are available from you Fertility Clinic at a set interest rate, with low monthly payments and no prepayment penalties. Many clinics have programs that allow you to plan your payments according to the procedure you've chosen.

Third party personal loans can also be an alternative option for IVF financing. There are financial service centers who cater only to clients seeking fertility services. These centers specialize in fertility treatment, and your Gynecologist or Fertility Specialist may be able to refer you to a reputable organization for this purpose.

Home refinancing, home equity loans or lines of credit are other types of personal loans that you can obtain to assist in paying for IVF treatment. The interest rates tend to be lower than with other loans, and there is a lower up front cash outlay.

It is best to move forward with any of these personal loan options, with care, ensuring that the debt you incur will be one you can successfully manage, to preserve your credit rating and allow you to cover all of the new costs associated with having a child.

How much does IVF cost?

Cost of In Vitro Fertilization

When estimating the cost of in vitro fertilization, there are several factors that you may want to consider:

  • any prior infertility treatment - usually, other treatments are tried before considering IVF, including the use of fertility drugs and maybe even surgery. Each of these treatment modalities have their own associated cost
  • location of the Fertility Clinic and any travel required - if travel is required, and overnights stays, transportation, food and lodging costs can add to your overalls IVF expenditures
  • time loss at work related to appointment and treatments - there is some time required for testing, counselling, and treatment, which means time away from work. Availability of sick time, paid time off or Family Medical Leave can be factored into costs, as well.
  • actual IVF cost - the actual cost of the IVF is from $10,000 to 15,000 per treatment cycle. The success rate average if 35%, indicating it may take up to three attempts, or more, to achieve conception and viable pregnancy.
The average initial cost of IVF: Screening lab: $300 (3%) Ultrasound/lab work: $3,000 (30%) Egg recovery: $1,500 (15%) Fertilization lab: $2,000 (20%) Embryo transfer: $1,000 (10%) Ovulation drugs: $2,190 (22%) Total: $9,990 (100%)

Fortunately, insurance does assist with some costs associated with fertility treatment, and other financing options are available. Talk to your Fertility Clinic about the costs of your fertility treatment and ways that you can finance your infertility care.

Will my insurance cover IVF?

In Vitro Fertilization and Health Insurance

A percentage of health care insurers have some type of fertility treatment benefit, but most benefits do not extend to include in vitro fertilization (IVF) financing. That leaves many insured persons without any assistance for IVF treatment, which may be the only option for them to achieve conception and offspring.

According to a ruling by the Supreme Court, reproduction is considered a major life activity, which Reproductive Specialists had hoped would encourage insurance companies to include IVF as a covered service, however, since costs associated with IVF can be extensive, and with the increase in the birth of pre-term infants associated with multiple birth following IVF treatment, there is hesitance in the insurer community to move forward with IVF insurance coverage, within the general health insurance plan.

There is, however, an option to purchase insurance specifically for IVF, through some specialty insurance providers, which may offer some assistance in financing IVF.

Prior to initiating any type of infertility treatment, meet with your insurer to determine which services are covered and with what level of copay. Also, check out other financing options and IVF insurance policies with other companies.

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Barbara Gibson