How to Pay for IVF: Strategies for Fertility Financing

How to pay for IVF, or in vitro fertilization, can be a daunting task. The full procedure is a complex and expensive process, with the average cost ranging from $10,000-$15,000 per cycle. While 17 states require insurers to offer coverage for fertility treatments, this is not always an option for all patients. When it comes to financing fertility treatments, many couples find themselves making financial trade-offs and considering creative options to make their best-case scenario become a reality.

When it comes to paying for IVF and other assisted reproductive technology (ART) procedures, couples need to determine if they have adequate savings and/or are able to access financing options in order to move forward. With so many obstacles blocking the way of starting a family through fertility treatments, learning how to pay for IVF can be overwhelming. Fortunately there are strategies that can help people navigate their way through the complexities of financing their ART treatment journey.

The costs of IVF treatments can be daunting, and with insurance often not covering the treatment, it can be difficult to figure out how to pay for it. Fortunately, there are a range of options available that may make receiving IVF more affordable. From grants and loans to fertility savings accounts and flexible spending plans, there are a number of ways to cover the costs associated with IVF treatments when insurance doesn't cover them.

When it comes to financing IVF, fertility specialists loans can be a great option. Some fertility clinics work directly with health care providers to offer IVF financing. Loan applications for IVF require an application fee and are based on factors including credit score, loan amount and participating fertility clinics. For example, Arc Fertility offers IVF loans to patients at participating fertility clinics. The clinic facilitates IVF financing from approved doctors and lenders to help cover the cost of infertility treatments.

When considering how to pay for IVF, many people may be surprised to discover that their health insurance plan does not cover infertility treatments like IUI and IVF. The average cost of an IVF cycle in the United States is approximately $12,400 according to the National Infertility Association. While this cost may seem daunting, there are a number of options available to help make IVF happen.

The first option is to get additional services from CNY Fertility who offer discounted rates for fertility treatments including IVF and egg freezing. They have helped thousands of couples with their family-building needs and have a financial program called “Make It Happen” which can provide grants up to 25% of the total treatment cost. In 19 states, some insurance plans are mandated by law to cover infertility treatment so it is worth checking out what your plan covers before you start searching for other options.

Another great resource is Resolve.org where you can find resources and support while wondering how to pay for IVF treatments. They also provide a night-long event called “Financial Pathways To Parenthood” which will help families learn about financing their eventual infant’s birth. All these options can help reduce the financial burden associated with IVF treatments and make it easier for everyone looking into making their dreams of parenthood come true.

When considering how to pay for IVF, mandates health insurance coverage for infertility treatment is an important place to start. Many people have a single insurance plan that covers a large portion of the cost, but ultimately needed help from the financial office at their local fertility clinic, or pursuing additional insurance plans like freelance side hustles or changing jobs to one that offers fertility coverage (as Dr. Camille Hammond suggests).

The Cade Foundation, a nonprofit devoted to family building through infertility treatment, offer grants and loans for those in need of extra money specifically for IVF costs. Additionally, exploring an extra insurance plan made sense–adding coverage even if it was just for a partial cycle of IVF. By comparing the cost of the extra plan to our “IVF bucket” (as our financial aid person told us), we saw that it would cover nearly half of the cost of a full cycle.

Talking with your health insurance provider and exploring other options can help you uncover additional insurance options that can help make IVF more affordable. Some employers also offer fertility coverage as a way to retain valued employees so this may be another option worth considering if you are thinking about changing jobs.

Jim Marrocco, a Certified Financial Planner Advisor at Thinking Big Financial, a York-based financial planning firm, is well versed in helping clients seeking to finance IVF. According to Marrocco, there are some shared factors among individuals considering IVF treatments. Potential IVF cost ranges from $8,000 to $15,000 with APR costs involved and fees that Marrocco advises his clients to consider when researching total IVF costs for their IVF treatment packages. These packages may include additional procedures and appointments as well as related expenses associated with the pricing which is often inclusive of multiple attempts, something Marrocco strongly recommends.

Marrocco encourages his clients to think about the entire cost and strategy needed to finance their IVF when making any financing decision. This allows them to comfortably manage their monthly payments while still being able to pay back what they owe in a payment plan that fits into their current cash flow. He also reminds them that once they give birth, there will be child care costs that need to be taken into consideration.

For those with bad credit or who can’t afford the upper end of potential IVF costs, Marrocco suggests looking into an IVF loan or personal loan as they both potentially offer lower rates than other forms of financing out there. Such loans typically cover IVF treatment costs and are typically funded through fertility-related financing offered by online lenders.

IVF can be a costly treatment, and couples may feel unsure about how to make it more affordable. Fortunately, fertility clinics offer payment programs to make IVF treatment more accessible. Price comparisons between different clinics can help you find a clinic with a low price and high success rates. However, cheaper isn't always better—a clinic with a low price tag that doesn't have good success rates isn't worth it.

Many fertility clinics also offer refund programs to help couples finance their IVF treatments. These set fee programs refund part or all of the costs if couples do not get pregnant quickly after multiple cycles of IVF treatment. Terms vary from clinic to clinic and not all couples qualify for refund programs, so it is important to research your options thoroughly. Some clinics even offer full refunds if patients don't become pregnant after multiple cycles of IVF treatments — these are great options for those seeking fertility treatments but lacking the funds upfront.

Couples who need additional help with financing their IVF treatments may look into credit cards or family borrowing, or they may be able to use flexible-spending account (FSA) or health savings plan (HSA) funds that cover part or all of the costs associated with medical care. Other options include home equity loans or using retirement savings — though these will come with additional taxes. With some research and patience, couples can unlock the mystery of paying for IVF so that they can start their journey toward parenthood sooner rather than later!