If you and your partner have turned to fertility treatments to help you have a baby, you'll want to do some financial planning to figure out the best way to pay for them. Although they can take a bite out of your income, several options can help lower the costs.
The national infertility association RESOLVE puts the average cost of an in vitro fertilization cycle, using fresh embryos, at more than $8,000. Medications can run you another $3,000 to $5,000. That comes to well over $10,000 for just one shot at getting pregnant.
Check out these ideas to make it easier to handle the costs.
Health insurance. In most states, the law does not require health insurance to include fertility coverage. But some states, like New Jersey, Connecticut, and Illinois, have "reasonably decent" coverage, says Barbara Collura, president and CEO of RESOLVE.
Even if your state doesn't require it, Collura says RESOLVE regularly hears from women and men who got their employers to offer fertility treatment coverage as part of the company's health insurance plan.
Your fertility center. "Talk to your clinic and your individual physician," Collura says. "They may have financing programs of their own, and they may also be able to connect you with pharmaceutical company programs that help pay for medications."
Independent loan and financing programs. On the "Making Treatment Affordable" section of its website, RESOLVE lists more than a dozen programs that offer financing, fixed fees, or deals such as a full refund if you do not successfully give birth.
Also, some loan programs, such as CapexMD, "work through your physician's office, so if your doctor doesn't have that option, encourage them to sign up," Collura says.
Grants and scholarships. A handful of nonprofit organizations, such as the Pay It Forward Foundation and the Tinina Q Cade Foundation, provide grants to help with the cost of fertility treatment.
Crowdfunding. "If you're willing to be open with your family and friends about your fertility issues, you can use a site like GoFundMe to ask them to help out by donating," Collura says.
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