How to Finance In Vitro Fertilization
Many health insurance plans will not cover in vitro fertilization (IVF) procedures. In 2010, you would typically pay $12,000 or more per attempt, with some clinics charging more and others less. Many clinics offer financing at competitive rates to people with good credit ratings. You can also raise the money yourself or take out a personal loan to defray the costs. Due to the relatively low success rates of the IVF procedure, you can expect that you will need to complete multiple cycles before conceiving.
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Instructions
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Direct In Vitro Fertilization Financing
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Research the likely costs of IVF. According to the Jones Institute, success rates differ depending on the method of IVF used. Healthy women younger than 35 years old can expect a success rate of slightly more than 50 percent, with success rates declining for each subsequent attempt. Consider this drop-off rate when making your initial plans.
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Contact IVF clinics in your area to inquire about financing options. Many will offer to finance the full cost of the procedure, while others will only provide partial financing. This financing method can spread the cost of the procedure over many years, putting it more in reach of most consumers.
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Select the IVF clinic that provides you the best financing rates while providing a high quality of care. Request that the clinic provide you with some information about their success rates. Certain clinics have higher success rates than others.
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Tips & Warnings
Apply for a personal loan from a bank as a last resort or to cover a small portion of the IVF procedure. Personal loans often carry high interest rates, have a relatively short maturity time and sometimes include significant fees. For relatively small loans, however, this can be a good method to finance your fertilization.
Consider saving up the funds to pay for at least part of the procedure, because any financing will include interest charges. If you cannot save the money yourself, try to raise it from friends and family. For something as important as an IVF procedure, people from your extended network will likely open their hearts and wallets. This approach is ideal for those with low credit ratings because IVF clinics will turn down financing requests from those with negative credit reports.
Keep in mind that you will have to pay for childcare and other associated costs if your IVF procedure is successful. Try to minimize the amount of debt you incur to reduce your financial burden.
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- Photo Credit pregnant #3 image by Adam Borkowski from Fotolia.com
