One aspect of fertility treatment that most people don’t consider until they are in need of it is the financial aspect. Fortunately, many medical procedures and treatments may well be covered by standard insurance. However, there are several parts of the treatment process, most notably IVF procedures, that aren’t covered by insurance at all. This means that the need to pursue other financing options like IVF loans will need to be necessary in order to have the in vitro fertilization process.
None of the parts of the IVF process is covered by standard insurance because they consider it either an experimental surgery or an elective surgery which means other financial resources are needed. Here are some alternatives so you can pay for IVF:
1. Financial counselors at the fertility treatment clinic will have options available for consideration. Since they specialize in this, they’ll have worked with many couples dealing with these issues and may have options you can work with.
2. If you have property or own your home and have enough equity in it, refinancing your mortgage or taking out a second mortgage can be done. Although banks won’t loan money specifically for an IVF procedure, they will lend against real property.
3. There are grants whose purpose is paying for IVF treatments. There are limitations and restrictions that exist so working with the financial counselor at the treatment facility will allow you to know what programs are available and whether you may or may not qualify.
4. Your financial counselor may also know of other private foundations whose purpose it is to help cover IVF expenses as well.
5. There are financial institutions which have loan programs which are specifically for medical situations. Since these loans are for medical treatments they are usually low interest loans with a long payoff so the financial impact on families can be minimized.
6. IVF treatment procedures can cost upwards of $40,000 but IVF treatment financing may not be as difficult as you’d think. Procedures will not be covered by insurance but if you’ve got stocks, bonds and investments in place, securing external financing may not be needed.
If your doctor states that IVF surgery may be your only option to have a child, taking a close, hard look at the costs involved may have a huge impact on the final decision. Working closely with the financial counselor at the fertility treatment clinic may enable you to find IVF financing that will make paying for treatments affordable.
There are many opportunities for Fertility Medical Loan and financing to help with the many options for fertility treatments.