IVF involves retrieving eggs from the woman's ovaries.
Not being able to have your own child can cause a tremendous amount of heartache and pain for a couple trying to conceive. Once couples have exhausted all methods of conceiving naturally, a last step is in vitro fertilization, or IVF. IVF is a form of assisted reproductive technology that involves stimulating egg production in the mother or egg donor, retrieving the eggs surgically, and fertilizing the eggs in a petri dish. The fertilized embryos are then returned to the mother's womb. IVF is expensive -- the average cost for one cycle in the United States is $13,775, as of 2010 -- so financing may be necessary.
Instructions
1. Ask your IVF clinic if any payment options are available. Most IVF clinics require payment upfront, but if you are in the beginning stages of treatment, you may be able to begin to make monthly payments that go toward the total cost. In addition, the clinic may have outside resources where you can apply for credit.
2. Contact your insurance company to see whether there is a rider you can add to your insurance plan that will cover infertility treatments. If IVF is not covered under any plan, inquire if the medications or testing for IVF are covered. Payment for medications for IVF is often a large portion of the expense, and having insurance that will cover the cost of the drugs will save you a lot of money. Also, some insurance companies will not cover IVF procedures, but will cover the cost of testing.
3. Call a local insurance agent who deals with health-care policies. Ask whether he has any health insurance policies that will cover IVF. If VF is not covered, ask about coverage for testing and medications. The cost of adding a second policy may be well worth it if the medications or testing are covered.
4. Visit ihr.com. Select your state to view practices that offer IVF financing, refunds if you do not get pregnant or low-cost IVF. If you cannot find financing, you may be able to find a clinic that offers a refund if you do not get pregnant or a low-cost option that you can afford.
5. Visit your bank and apply for a personal loan or credit card with a credit limit large enough to cover the expenses.
6. Borrow money from family or friends. You may find family members sympathetic to your quest to have a child. Create a contract to repay the loan.Treat any loan between family and friends as a real loan and make payments as you would to any other creditor. Many relationships have been damaged because of conflicts over loans.
7. Borrow from your 401k or retirement plan. This option should be carefully considered. You must be prepared to pay for IVF treatment even if it does not result in a baby.
8. Take out a home equity loan. A home equity loan provides you with a portion of the equity in your home. This option should be exercised only after careful consideration. Do not put your home at risk if you cannot pay back the loan.
9. Get a second job and put all of the money toward your IVF fund. This option is best if you have time to earn and save the money.
