A single round of IVF can cost as much as $15,000, which is a lot of money to spend on something with only a 40 percent success rate. Many couples explore alternate financing or traditional credit card programs to cover the costs of their infertility treatments, especially if their insurance won’t cover the cycle. Here are a few options, if you are considering this route:
1. Fertility Financing Programs
During your research, you’ve undoubtedly come across fertility financing or discount programs, like the ARC Fertility Program and Attain IVF. These programs work slightly different from traditional financing programs in that you pay a larger, yet discounted price upfront for multiple cycles. For example, if a single cycle costs $10,000, you’ll pay $18,000 for two cycles. While it might seem like a good deal, keep in mind that you’ll lose the money you prepaid for the second cycle if you get pregnant on the first. Attain IVF might offer a refund if you don’t get pregnant within a specified number of cycles. Each program includes different services, so read the fine print carefully. Both companies offer financing, and they have strict requirements and clinical guidelines that must be met before being eligible for participation.
2. Medical Loans
Outside of fertility-specific financing programs, you can take a look at medical loans like MedicalFinancing.com or MyMedicalLoan.com. These programs are available for anyone needing help to pay for medical procedures, not just for fertility patients. They are similar to traditional financing programs, but tend to offer lower interest rates and more affordable monthly payments, depending on your credit history and the loan amount. In addition, they usually have a quick approval process so you can get started right away. Another benefit is that you still have your credit cards available for personal use.
3. Traditional credit cards
Finally, some couples elect to use their credit cards or to take out a new credit card to pay for their cycles. If you have the credit available, this might be the quickest and easiest option, though interest rates might be higher than medical loans. In addition, if you max out your available credit, it won’t be available if other expenses come up (especially important if you become pregnant).