When you’re considering fertility treatment, cost can be an obstacle. In vitro fertilization (IVF) can have a starting cost of around $8,000, but costs often increase significantly with the additional tests, procedures, and medications involved. Even the less expensive option of intrauterine insemination (IUI) can cost $300 to $800, which multiplies if you undergo multiple insemination procedures. Add in the cost of various medications, and you’re likely looking at a significant bill.1
It can be difficult to prepare financially for an unexpected circumstance like infertility, so many couples don’t have enough money set aside to cover fertility treatment on their own. Our partners at Fertility Lifelines have information about a few different financing options available to you.
Taking out loans
Check with your bank or financing companies in your area to see if they can give you a loan to help pay for your fertility treatment. This way, rather than paying a lump sum for treatment, you can make monthly payments. Some fertility clinics have relationships with financing companies and can connect you with loan providers. You could also borrow money from friends or family and work out your own schedule for repayment.
Some couples have found success in crowdfunding, while others ask friends and family for help with fertility treatment as a gift, though it’s totally understandable if that’s not an option, especially if you’d like to keep your fertility journey private. The important thing to know is that there are options out there, and finding the one that’s right for you is a great first step toward achieving your goal of parenthood.
Programs through fertility clinics
There are some fertility clinics that will offer alternate payment plans for procedures like IVF. Similar to taking out a loan, these plans would help you avoid the need for a lump sum and let you pay off the procedure in a more manageable way. Some clinics also offer more traditional financing plans to patients. Your healthcare provider may be able to direct you to a clinic that offers payment programs.
Using tax deductions
This isn’t an immediate solution for paying for treatment, but you and your partner may be able to list your medical expenses as deductions on your income tax returns. You’ll need to keep organized records of both your expenses and interactions with your healthcare provider and insurance company, including all treatment dates and corresponding receipts. Make sure that you speak with a tax advisor or accountant before counting on these deductions to pursue treatment.
Applying for grants
There are some specific grants available that are dedicated to helping cover the cost of infertility treatments and assisted reproductive technology. Some grants are available to U.S. citizens only, and others are just for residents of specific states, but they can provide substantial assistance to couples who meet the requirements. In some cases, grants from organizations like The Cade Foundation or Journey to Parenthood offer more than $10,000 toward assisted reproductive therapy.
Saving money on medication
Our partners at Fertility Lifelines offer the Compassionate Care Program, which provides eligible self-pay patients with discounts on select medications based on their income. Active, veteran, and retired members of the military get a discount of 25% through the program and may be eligible for additional savings as well. Fertility Lifelines also has co-pay cards available for eligible patients with private insurance, which can save you up to $250 on out-of-pocket costs on select medications.
Battling infertility is tough on its own, and finding ways to help cover fertility costs can be one way to ease that burden. Our partners at Fertility Lifelines believe that couples should have options when it comes to paying for fertility treatment. Tap the button below to learn more about ways to pay for treatment and how to save on certain fertility medications.
1The Costs of Infertility Treatment. RESOLVE: The National Infertility Association website. http://www.resolve.org/family-building-options/making-treatment-affordable/the-costs-of-infertility- treatment.html. Accessed February 15, 2017.