- Jennifer "Jay" Palumbo
How Much Does IVF Cost?
One of the number one questions when considering fertility treatment like IVF (other than will I get pregnant) is how much does it cost? At present, only nineteen states have passed fertility insurance coverage laws, and of those nineteen, thirteen include IVF coverage.
According to the National Conference of State Legislatures (NCSL), in vitro fertilization (IVF) can cost on average $12,000 to $17,000 depending on where you live and which clinic you receive treatment. This price range does NOT include medication. Depending on the protocol your reproductive endocrinologist recommends, Fertility medications can range from $3,000 - $5,000. In addition, any genetic testing would be an additional $3,000-$5,000.
That means one cycle of IVF can cost you upwards of $25,000.
When you factor in that JAMA has found it can take six to nine IVF cycles before achieving a live birth, that means you may be looking at one very high price tag, especially if you do not have insurance coverage.
If You Do Not Have Insurance Coverage for IVF
First, you may want to consider advocating for yourself in terms of securing increased coverage, as per a survey done in 2006 by Mercer Health and Benefits and commissioned by RESOLVE - The National Infertility Association - they discovered that 65% of companies offered infertility treatment directly to employees requesting IVF or fertility coverage.
This means that if you're open to advocating for yourself and sharing your fertility struggle, you may want to speak to your Human Resources representative. Sharing this infographic created by RESOLVE shows your employer that adding fertility benefits would increase feelings of company loyalty, and employees would miss less work. They would recommend the company as not only a great place to work but also view it as "family-friendly." In addition, if your HR Team saw IVF benefits could be an investment, it could help not just you but other co-workers who are dealing with infertility.
According to the US Small Business Administration, you may be one of the 47% Americans working for a small business. Unfortunately, these small businesses may not offer fertility benefits and would be hard-pressed to afford to add them but you can still try!
You can also explore other options to afford the fertility care you need. First, speak with your fertility clinic directly to understand your expected cost of care. Your clinic should provide a detailed cost breakdown so that you can understand the different elements going into your estimate. Once you have a clear idea of your projected cost, you can look into several options to help you afford treatment:
If applicable or available, access funds in your flexible spending account (FSA) or health savings plan (HSA) fund. It would be best to speak to your accountant before as additional taxes or penalties may be involved.
If you have one, you can borrow against funds in your retirement savings. You need to check with your financial institution to see if you're eligible and request a loan application. You would pay interest on this loan, but you'll be paying it back to yourself! Check with your accountant before here, too, to ascertain what tax implications may be involved.
Ask to borrow money from your family.
Charge it to your Credit Card and pay it off over time (this is probably the most expensive option for most people due to excessive late fees).
Apply for fertility grants; there are several offered through the US.
Taking out a loan for your treatment: if you don't have access to family, retirement, or FSA funds and haven't been lucky enough to win a grant, a loan might be your best option. Fertility loans are personal loans with typical fixed rates and fixed payments with terms that vary from 2 – 7 years. These loans are uncollateralized, and your APR will depend on your credit profile, as well as the lender's credit policies.
Also, when determining how much of a loan you need, there can be costs in addition to how many times you cycle and medications. These costs can include but are not limited to:
Fertility testing or consultations
The cryopreservation of embryos
A mock embryo transfer
HCG beta blood work (pregnancy testing)
Ultrasound monitoring and blood work
Genetic Testing like PGT-A (check out our soon to be released video on Genetic Testing and whether it's right for you)
Annual storage fees for frozen embryos
How EggFund Can Help
If you determine you need a loan for your family building, EggFund can help! We were founded by a person living with infertility who experienced firsthand the high cost and stress of treatment. Her mission to make the process more affordable and less stressful for others led to the creation of EggFund.
You'll know that we are a unique platform with the largest network of leading national lenders if you've found yourself here. Get matched with your pre-approved offers in 60 seconds. Checking your loan offers does not negatively impact your credit score. However, your credit score will likely be affected once you choose an offer and formally apply with a lender.
You can go to any doctor, clinic, or pharmacy with EggFund. All aspects of treatment can be covered.
If you feel financing is an option that fits your budget and needs, please click here to learn more.
Overall, while the cost of IVF can be overwhelming, you do have options to explore. Don't hesitate to contact us if you have any questions! We're here for you.