3 ways to fund your fertility treatments

The biggest barrier for couples struggling to get pregnant or carry a baby to term isn’t necessarily medical. It’s often financial.

According to The National Infertility Association, many simply cannot afford treatment or other family building options such as surrogacy or adoption.

The Society for Assisted Reproductive Technology estimates the average cost of in vitro fertilization (IVF) treatment in the United States is about $10,000 to $15,000 per cycle. That’s just for basic monitoring and procedures. Add in the cost of medication, which ranges from $5,000 to $7,000, the average patient typically undergoing at least 2 cycle attempts, and the actual costs quickly jump to $50,000 or more.

The reality is that most have to pay the bulk or all those expenses themselves.

A 2018 Student Loan Hero survey of those planning to begin some type of fertility treatment within the next 12 months found the following:

1. More than 50% will use a credit card to cover treatment
2. 25% will use a personal loan
3. 14% will withdraw or borrow from their 401(k) plans

Countless couples are going into debt just for the chance to have a family. While it may seem the only option is to choose between financial stress or not having a family, there are other options that can help in easing the costs.

Research grants and scholarships: There are organizations and foundations that offer grants and scholarships to cover some or all of the costs. There are usually eligibility requirements and experts suggest sending out applications to multiple organizations. Visit RESOLVE.org for an updated list of grant and scholarship opportunities.

Sit down with the clinic’s financial counselors: Be open about your financial situation. It can’t hurt to ask your fertility specialist about discounts or financing options. Explore everything from medications (Is there a generic brand available?) to treatment options (Could you adopt an embryo?) that will best suit your needs. Some fertility clinics even offer partial refunds if patients don’t conceive. So talk to someone, and do your research.

Read your insurance policy: Double check your insurance policy (even the fine print that makes your eyes glaze over). You may be eligible for partial coverage of infertility costs. Can your employer’s flexible spending account be used to help pay for treatments?