Financial Planning for LGBTQ+ Family Building

There are few things more exciting than starting a family. However, for LGBTQ+ couples and individuals, navigating egg or sperm donation, surrogacy, in vitro fertilization (IVF), or intrauterine insemination (IUI) can be overwhelming at times, especially when you factor in the costs of these treatments. To celebrate Pride Month, we want to discuss how aspiring LGBTQ+ parents can organize their finances ahead of time so they can focus on what matters most — preparing for their bundles of joy.

Determine Insurance Benefits

Depending on your employee benefits, health insurance provider, and state, you may have coverage for certain fertility treatments. In September 2023, some states, including New York, Illinois, and California, enacted fertility insurance coverage laws. Some of these laws don’t apply to LGBTQ+ couples, but they’re still worth looking into.

Depending on your employer, you may have fertility benefits. Speak with your human resources representative to see what your options are. The Affordable Care Act established that maternity benefits are essential, but copayments, deductibles, and coinsurance will apply to some visits, tests, and delivery.

Seek Financial Assistance

Some organizations offer financial assistance to LGBTQ+ couples and individuals trying to grow their families. The BabyQuest Foundation and the AGC Scholarship Foundation, among others, provide financial support for people of all backgrounds who are struggling to pay for fertility treatments. LGBTQ+ organizations, like the Human Rights Campaign, also provide information on accessing financial help.

Consult Your Fertility Clinic

No two fertility journeys are the same, so it can be challenging to predict what treatments will work best for your specific situation. That’s why you should meet with your fertility clinic to learn what treatments you may need and their costs. For example, IUI is less invasive and time-intensive than IVF, so it’s less expensive. However, it may take multiple cycles to achieve pregnancy, or you may have to move on to IVF if IUI doesn't work. If you want to use a surrogate, you’ll likely skip IUI and go straight to IVF. Your reproductive specialist will be able to break everything down for you so you can plan accordingly.

Explore Fertility Treatment Packages

Because it can take multiple cycles of treatment to achieve a successful pregnancy, costs can add up quickly. That’s where Bundl comes in. Bundl is a unique program that allows you to lower fertility treatment costs by packaging multiple treatment cycles together at one reduced, up-front price. Bundl also offers risk protection, minimizing financial burden and protecting your investment.

Save on LGBTQ+ Fertility Care

Paying for fertility treatments can feel daunting, but there are resources available to make the family-building process more affordable. To learn how Bundl can help you finance your LGBTQ+ fertility journey, contact us today. We can help build the right plans for your unique needs.