When most couples find that their health insurance benefits will not cover infertility treatments they turn next to personal savings or, worse yet, retirement savings. However, many patient advocacy groups and clinics offer additional options for dealing with the increasing financial costs of infertility treatment by working one on one with individuals to find personal solutions. Infertility consulting companies also provide viable solutions to explaining options and offering comfort and security throughout the process.
Some clinics offer a “shared risk program.” Details differ from clinic to clinic and program to program, generally you must meet specific qualifications to be included. Usually the determining factors include age, health, pregnancy history, diagnosis, and many others. In a shared risk program patients pay one flat upfront fee for a treatment plan that may include up to several cycles. If you are successful after the first cycle, the clinic keeps the fee. If you are unsuccessful after all cycles, you may receive a partial refund. The fee is more than the cost of one cycle, but is extremely beneficial if you need more than one to have a baby. Be sure to have your Attorney and Financial Advisor look over any program before expending your resources.
Another type of program is offered by a Bank. The Family Fee Plan is a specific loan arrangement offered through the Bank at a number of clinics nationwide. Similar to a bank or credit card loan, the Family Fee Plan is essentially an unsecured loan whose amount and rate is determined by your credit score. Other options, such as a home equity loan may be less expensive. Consider any line of credit carefully and consult your Financial Advisor.
Of course the best money is the money you do not have to pay back. Some interest groups and clinics offer scholarships and grants for those seeking treatment. As with shared risk programs, there are certain qualifications which must be met in order to be eligible. Scholarships and grants are generally given out yearly and are highly competitive. If you qualify, it is absolutely worth the time to apply.
Explore as many options as you can instead of placing all of your hope into one program. By caring for your infertility financing issues and exploring many options you will increase your chances of finding the funding to make your dreams of your own child come true.
125 c Plans and Infertility Options
Paying for any type of medical treatment can be separated into three basic options. • Healthcare plans usually offered by your employer or professional organization. • From your own savings or other private arrangement such as a bank loan. • Grants and other programs offered by some patient advocacy groups and clinics.
Infertility Insurance Coverage – What’s covered Where?
Before beginning any discussion about insurance coverage, it’s important to explain the status of fertility benefits in the various States in the Union. Required coverage of infertility varies greatly from State to State. Not every employer is required to cover fertility treatments; this benefit is delineated per state.
Infertility and Health Insurance – Where to Start?
Infertility has become more of a concern for more hopeful couples as revolutions in medicine find more ways to treat the varied types if infertility. As more couples demand coverage for infertility more health insurance plans are covering more aspects of infertility treatment. The challenge can be finding out what that coverage is and how to file the claim so as not to have the claim rejected. Whether your plan is a HMO, PPO, POS, or Blue Cross / Blue Shield the bottom line is the same.
