If you are considering fertility treatment, it is important to understand the costs that you may incur. For example, IVF treatments in addition to all of the other necessary tests and procedures can rack up medical bills into the tens of thousands of dollars. Even less intensive treatments like IUI average a $500 a treatment. So what can you do to overcome these financial obstacles? Here are a few options.
- Loans- Talk to your local financial institution about a personal loan, or other financing options. Often, your fertility clinic can also provide information about loan providers and financial companies who have helped other clients. If you are comfortable, personal loans from family and friends or even crowdfunding is another option.
- Fertility Clinic Programs– Similar to a loan, a number of clinics offer alternative payment schedules rather than having to pay in a lump sum. Your insurance provider can often direct you to a fertility clinic within your plan that offers payment programs.
- Tax Deductions– Always remember that you can list medical expenses as deductions when filing your yearly income tax returns. Although this won’t help you pay for your treatments, it may help alleviate the financial burden at the end of the year.
- Grants – Search online for grants you may be eligible to receive to help assist in your fertility journey. Grants often have a variety of eligibility restrictions so make sure to read the fine print carefully before applying. Location is often an important factor.
- Medication Savings- There are a number of discounted medication programs for which you may qualify. Military members and their families can often find discounts up to 25%. Fertility Lifelines, an online fertility financing company, also provides eligible patience discounts on select medications.