Financial Tips for IVF
Paying for fertility treatment can get costly depending on what services are being pursued and your financial situation. For some individuals, the costs associated with these treatments can be overwhelming, and create a lot of anxiety. But do not despair! There are ways to help pay for IVF treatments without having to use every penny you have.
Insurance Coverage
First, check with your health insurance company. Research your individual plan for specific coverage as certain insurance plans may cover some services. Only 15 states in the US have laws that require insurance companies to cover fertility treatments. These states are: Arkansas, California, Connecticut, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, Montana, New Jersey, New York, Ohio, Rhode Island, Texas and West Virginia. Paying with pre-tax dollars from a Flexible Spending Account (FSA) or a Health savings account (HSA) is a good idea if no insurance coverage is available to you.
Family and Friends
One creative way to help pay for IVF is through crowdfunding websites such as gofundme.com, depositagift.com, and giveforward.com. Crowdfunding allows you to create a fundraising site, customize it, and share it through social media. Crowdfunding can be an amazing tool to help you achieve your dream of becoming a parent.
Grants
Several non-profit groups offer IVF grants and scholarships for qualifying individuals and couples. These organizations provide both advocacy and financial assistance with each group having its requirements. The following are a few of these groups:
- Babyquestfoundation.org
- AGCscholarships.org
- Cadefoundation.org
- Footstepsforfertility.org
- Parentalhope.org
- Journeytoparenthood.org
EMD Serono, a pharmaceutical company, offers significant savings on their fertility medications. They offer a co-pay savings card, discounts of up to 75% based on income, free medication for eligible veterans, and discounts via mail-in rebates. For more information and to apply, click here.
Financing
Fertility financing through a fixed rate personal loan is another way to pay for fertility treatments. Financial companies offer a variety of loan options with affordable rates, and a short approval process. Some financing companies offering fertility loans are:
- Capexmd.com
- Cosmeticredit.com
- Lightstream.com (a division of SunTrust bank)
- Fertilityfinance.net
- Sofi.com
- Prosper.com
- lendingclub.com
Tax-deductible
Since IVF treatments are large, unreimbursed medical expenses, they are considered tax deductible expenses and can be reported under medical expenses when filing taxes. The expenses must be more than 10% of your adjusted gross income (AGI).
Just because you don’t currently have the funds necessary to pay for fertility treatments does not mean you cannot afford them. Explore all the options that are available to you, and get as creative as you can be. Also, the clinic support staff at Aspire Fertility are always available to help with your financial questions or concerns.
If you have more specific questions about financing, you can schedule an appointment at any of the Aspire Fertility Clinics or call the:
- Houston Fertility Clinic at (713) 425-3003
- Dallas Fertility Clinic at (214) 414-3806
- Austin Fertility Clinic at (512) 456-9827
- McAllen Fertility Clinic at (956) 300-3557
- San Antonio Fertility Clinic at (210) 981-3572
