Financing Fertility Treatments - What Are My Options?

Each day, couples find that they have to face the fact that they are having fertility issues. After trying to become pregnant, they reach the ultimate conclusion that they will require assistance from a fertility treatment center. After trying all the different processes and procedures, the doctor may decide that the only option left is in vitro fertilization. Aside from the medical risks involved (minimal but still real) the IVF process is an expensive one and it’s not covered by most health insurance companies which means that finding a way to pay for it is necessary. One avenue to take is financing fertility treatments by seeking an IVF loan.

In vitro fertilization is a process where an egg from the mother or from a donor is fertilized in the lab and then implanted into the mother’s womb. This process can easily cost anywhere from $20,000 to $35,000 and, unfortunately, may not work the first time. However, for those who have exhausted all other methods of becoming pregnant, this is the last best opportunity they have to become pregnant. When weighed against money, many couples try to find ways to finance the IVF procedures from a financial institution or even grants to help with the expenses.

Working with the financial counselors at the fertility treatment center will enable couples to explore what their options are. Since the procedure isn’t going to be covered by normal medical insurance who interprets IVF surgery as elective, looking for other sources of financing fertility treatments is required. There are some foundations that have grants available to help pay for fertility treatment but these grants usually fall far short of the money needed.

Normal banks won’t touch an IVF loan under any circumstances. The only way to possibly receive a loan from a bank that could be used is to get a loan against real property such as a mortgage or second mortgage on a house or land. If this isn’t possible the only alternative is to seek a loan from specialty finance companies that will make loans for medical procedures. The financial counselors at fertility clinics will have the information and connections couples need in order to see if they qualify for financing their treatments.

Until insurance companies start covering IVF procedures, the cost for the surgery falls completely on the couple to pay and unless the couple is fortunate enough to have the money available to pay for it through investments or can secure it through a bank loan against property, financing fertility treatments from specialty financial institutions is going to be the answer.