Fertility treatments can come with a significant price tag, especially the highly effective in vitro fertilization (IVF) method, which typically costs between $12,000 and $15,000 per cycle. How many cycles will be required for IVF success? It varies for each person or family. According to the Society for Assisted Reproductive Technology, more than 70 percent of fertility patients require more than one treatment cycle before they are successful, but often can’t afford them. In addition to this, it’s necessary to budget for medications and other necessary expenses, and important to note that health insurance might cover only a portion, if any, of these costs. Given the financial strain, exploring various financing options becomes crucial. Luckily, there are many ways that you can navigate fertility care costs.
Multi-Cycle Programs
Bundl is a unique program that allows you to lower fertility treatment costs by packaging multiple treatment cycles together at one reduced, up-front cost. The team behind Bundl has firsthand personal experience with infertility and designed a program that reduces fertility treatment costs, includes financial protection, and offers three core packages you can tailor to your family’s needs.
Loans
Depending on your employment and state, you may qualify for a fertility loan, covering treatment, medications, genetic testing, and other related expenses. Or, with an online personal loan, you may quickly pre-qualify, apply, and receive funding. While potentially expensive, good credit may lower rates and raise loan amounts.
Grants
Certain nonprofit organizations and healthcare facilities may provide eligible candidates with financial grants and scholarships.
Credit Cards
You could pay some or all of your fertility expenses with a credit card, and the better your credit, the lower your costs. If your score is fair or lower, consider financing through a credit union.
Home Equity
Homeowners with lower credit scores or unable to qualify for a personal loan or credit card may take out a home equity line of credit (HELOC). Like a credit card, you can spend up to 85% of your home’s appraised value, paying interest only on the borrowed amount. However, with this method, it’s important to be mindful of your repayment capabilities to avoid any future issues.
Retirement Funds
You could borrow from your retirement fund, 401K, or individual retirement account (IRA), although this may depend on your specific plan, ability to pay it back, and job security. You may also have to disclose your infertility and share medical bills.
Social Fundraising
You may opt for crowdfunding to raise fertility treatment funds, in which many people donate relatively small amounts. Social media’s popularity has made this effective, although hard work and planning are necessary. Some social fundraising ideas include:
- Launching a personal story campaign on social media
- Hosting a fundraising event or online auction
- Leveraging crowdfunding websites, such as GoFundMe
- Offering creative workshops or classes (e.g., cooking, painting, gardening, etc.) and use the proceeds to fund your fertility care
- Hosting an expert webinar
- Documenting your fertility journey as a blogger or social influencer and monetizing your platform through ads, sponsorships, or donations
- Organizing a bake sale, car wash, or garage sale
Whatever form of social fundraising you choose, be sure to be transparent about what you’re fundraising for.
Consider Fertility Clinic Financing Options
In some cases, fertility clinics provide patient discounts, incentives, or multicycle programs to help accommodate fertility care costs. For example, Bundl partners with many fertility clinics across the United States to offer packages with multiple IVF cycles for one upfront cost, helping to reduce financial pressure. While a successful embryo transfer isn’t guaranteed, with these packages, 100% of your principal investment can be returned.
Expand Your Fertility Treatment Financing Efforts
While the cost of fertility treatments may seem overwhelming, there are many ways to make your path to parenthood more affordable with a little creative thinking. If you have questions about affording fertility care, please connect with a Bundl expert today or download our free Financing Fertility Guidebook.