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Five Tips for Financing Your Fertility in 2013
As we ease into 2013, you may be brainstorming ways to manage the substantial price tag of fertility treatment. This past year brought us creative and inspirational anecdotes of wannabe parents desperate for IVF funds, and parents paying for their daughters’ fertility preservation for even a small amount of fertility insurance for the future.
Ok, so you may not have valuable sports team cards to auction off and your parents might not be willing to shell out thousands for egg freezing. Here are Fertility Authority's five tips for taking IVF finances into your own hands and getting that baby in 2013!
- Review your insurance policy. Whether you live in one of the 15 states with infertility insurance coverage or not, you may have coverage for some diagnostic procedures, corrective surgery procedures, blood work, or ultrasound scans. You might be surprised to find that procedures like intrauterine insemination (IUI), in vitro fertilization (IVF), or even some prescription fertility drugs are covered.
- Research discounts through your fertility clinic. Some fertility clinics offer multi-cycle discounts or lower cost IVF plans for those without infertility insurance coverage. Note: income or age restrictions may apply.
- Talk to Human Resources about flexible spending. Your employer may offer flexible spending accounts for employees to save pre-taxed dollars to an account used solely for medical expenses. Typically those with deductibles, co-pays, and out-of-pocket expenses for their medical treatment can use flexible spending. Keep in mind these funds do not carry over to the next year and are not refundable.
- Consider a shared risk or IVF refund program. These programs require pre-payment up front, but refund money to the patient if a successful pregnancy is not achieved. Many fertility clinics do this as a three-cycle package. Something to consider about this option—if you pay in advance for three cycles and conceive on the first, you might be overpaying for one IVF cycle. However, this is a great option for those who expect to do more than one IVF cycle.
- Look into grant and financing agencies. Applications must be completed on a deadline, so research online and with your clinic to give yourself sufficient time to be approved.
With some planning and research on financial options, you too will be able to manage the costs of IVF.