10 IVF Financing Options
Once you've determined that in vitro fertilization (IVF) treatment is your next step along the path to parenthood, you’ll want to determine how you’re going to pay for treatment – and you'll probably have more options than you realize!
- Insurance. Currently fifteen states mandate some form of fertility treatment coverage and it varies by state. The first place you can start is to see if your state is one that requires infertility insurance benefits. Even if your state doesn’t mandate fertility health insurance, your health insurance plan may offer some form of coverage.
- IVF programs. Many clinics offer discounted fees for course-of-treatment IVF programs, such as our Multi-Cycle Programs.
- Fertility Financing. Loans to help cover Multi-Cycle Programs are available through our lending partners like Health Credit Services. Click here for details.
- Existing assets and investments. You may be able to use a home equity line of credit, take a loan against your 401K or other investment and insurance policy for infertility treatment financing.
- Credit card companies. Using a credit card to pay for treatment is another option. If your account is in good standing, you may want to contact your credit card issuer to request an increase in your line of credit (sometimes at a reduced interest rate) that you can use as part of your infertility financing plan. While there are no guarantees, it doesn’t hurt to ask!
- Family members. Don’t overlook family members who may be willing to loan you money – possibly with no interest.
- Fertility Grants. There are a number of nonprofit organizations that provide funding for patients who can’t afford fertility treatment, such as B.U.M.P.S., The Cade Foundation, and Fertile Dreams among others.
- Military families. Some clinics offer special rates to men and women actively serving in the military, as well as veterans.
- Savings Accounts. There are a number of savings accounts in the market, but two of the most popular include:
FSAs (Flexible Spending Accounts) FSA accounts allow you to set aside a portion of your earnings to pay for qualified medical expenses. The money you contribute is not subject to payroll taxes, but the money must be spent by the end of each plan year.
HSAs (Health Savings Accounts) HSA accounts are tax-sheltered savings accounts that can only be used for current or future medical expenses. You can enroll in an HSA if you have a qualified High Deductible Health Plan (HDHP). There is no expiration date on the money in your account and any unused funds will remain in your account and grow interest.
- Savings. And of course there’s always the opportunity to start saving now. It could mean delaying treatment, but with a well-thought-out budget, you may have the resources available sooner than you think.
Once you know that undergoing infertility treatment is your next step towards becoming a parent, having a solid understanding of the associated costs and being proactive about your fertility financing options will provide you with the information you need to make the best decisions possible.