Financing fertility is difficult for many couples who can’t get pregnant. If you’re wondering how to pay for infertility costs, here are a few ideas to chew on.
First, though, here’s how much one type of infertility treatment costs (in vitro fertilization):
“The average cost of removing eggs from a woman’s ovaries, mixing them with her partner’s sperm, and implanting the resulting embryos into her uterus is about $9,000, although fees for this procedure range from $7,000 to $15,000, depending on the doctor, clinic, and hospital,” write Vargo and Regan in A Few Good Eggs: Two Chicks Dish on Overcoming the Insanity of Infertility.
The cost of this fertility procedure includes office visits, baseline tests, estrogen and ultrasound monitoring, hospital retrieval costs and embryo freezing, in-lab fertilization expenses, hospital transfer costs, and physician services – but not fertility drugs.
If you’re still hoping to get pregnant without infertility treatments, read Making Babies: A Proven 3-Month Program for Maximum Fertility.
And, here are a few ideas for financing infertility treatments…
Financing Fertility – How to Pay for Infertility Costs
In a recent issue of O Magazine, a woman asked Suze Orman for financial advice about infertility treatments. She can’t get pregnant, and needs to know if she should finance her fertility procedures…
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“My husband and I have been married for nearly nine years. After two miscarriages, we feel the best option is in vitro fertilization (IVF). The cost of this process is about $16,000. We went to a lending company, and all they can offer is $6,000. The rest is money my husband and I don’t have. We’re thinking about taking a credit card loan because we can’t hold out long enough to save the balance. Do we have any other options?”
Here’s Suze Orman’s response: “From an emotional standpoint, it’s easy to say there’s no price too steep to pay [to get pregnant]. But you asked for my financial advice, so I’m going to respond from my head: I don’t think it’s wise to go into debt to finance in vitro fertilization (IVF).”
Not to be able to afford infertility treatments is so difficult — it makes us feel helpless, powerless, and even worse about not gettting pregnant! But, despite Suze Orman’s advice, many couples do finance their fertility procedures. It’s a personal decision that each couple needs to make, independent of what other people think.
Financial Options for Couples Trying to Get Pregnant
Talk to your insurance provider – more than once! When we tried intrauterine insemination (IUI) a year ago, we thought our insurance company didn’t pay for infertility treatments. But when we talked to a different representative at the same company, he said yes they do pay for some fertility procedures. It’s too late for us now, but I encourage you to call your insurance provider two or three times. Make sure they don’t pay for infertility costs.
Research infertility treatments in other parts of the world. My IVF Alternative helps couples seeking in vitro fertilization by offering an “IVF vacation” to the Czech Republic. In vitro fertilization in Europe costs a fraction of what fertility treatments are in the United States and Canada. IVF Vacation also helps couples pay for infertility costs — they’re a “fertility challenged couple” who organizes IVF trips to Czech.
Think carefully about borrowing money from friends or family to finance fertility. Even if your family can afford to lend you money for fertility costs, it may cause conflict and stress in your relationships. Loved ones often feel like they have to say yes to such a request, even if it damages their credit standing or financial situation. Read 5 Tips for Lending Money to Loved Ones if you’re considering a family loan.
If you are financing fertility treatments through refinancing or a bank loan…
Know the odds of getting pregnant with infertility treatments such as in vitro fertilization (IVF). Less than 40% of IFV procedures are successful for women under age 35. For women older than that, the odds decrease. Talk to your fertility doctor about your chances of getting pregnant – because conditions such as endometriosis, polycystic ovaries, fibroids, etc can reduce the odds.
Calculate your budget after the infertility costs. Can you afford to have a baby and pay back the money you borrowed for infertility treatments? If you don’t have the money to pay for in vitro fertilization now, will you be able to pay off the debt later? It may be better to save money for infertility treatments instead of borrowing it.
Avoid getting a cash advance from a credit card. According to Suze Orman, a credit card loan is the worst financial move you could make – even if you could get a $10,000 advance. The interest rates are often more than 20%, which means you’ll be paying off your debt for years. The minimum monthly payments on a $26,000 cash advance that charges 22% interest could be $480. It would take you more than 30 years to pay off your debt!
For more tips on coping with infertility, read How to Help a Woman Cope With IVF Fertility Treatments.