One cycle of In Vitro fertilization (IVF) treatment costs from $10,000 up to $15,000. If there are any additional assisted reproductive technologies, the cost can be much higher. IVF treatment is very expensive and if you are one of those who opt to get IVF treatment, you will need to spend quite a hefty sum of money. If you have enough savings to pay for the costs then you have nothing to worry about but what if you don't have anything extra to spend? You might think of options like getting a loan or a health insurance for IVF.
The U.S. health care system is primarily financed by private insurance firms. Unfortunately, most health insurances don't have infertility insurance coverage. Out of the 50 states in the U.S., only 15 states mandate infertility insurance coverage for employers and insurance companies. You may enjoy this privilege if you belong in one of those states. However, in some states that mandate infertility insurance, IVF coverage may not be included, and if there is, stipulations are limited only to a certain extent. It is necessary to know the state mandates and the insurance policy offered. Insurance for IVF can be offered through employers and those who are required by law. If insurance for IVF is not covered in your employment, there is a slim chance of finding another option.
Group Insurance for IVF
Couples who want to conceive may seek for group insurance for IVF. Most group plans do not include insurance for IVF unless the state mandates the coverage. Group infertility health insurance includes a plan that directly covers treatments for infertility, as well as a wide range of health care. There are some fortunate couples who have group infertility health insurance coverage through their employer's plans.
Individual Insurance for IVF
For individual insurance for IVF coverage, it doesn't include direct payments for IVF costs. It will only cover refunds for a portion of the money spent for a certain number of cycles. Insurance for IVF under the coverage also refunds a portion of the expenses if there is failed delivery of a baby. Individual insurance can be too costly since you will be paying more for something that you will only get less in return or nothing at all if there is successful delivery of the baby.
Supplemental Insurance for IVF
Supplemental health insurance for IVF can provide you added protection. It can help you pay for other expenses which your existing policy may not cover. Benefits will be paid when you get pregnant or deliver a baby. The benefits you receive from normal delivery may surpass the premium you pay. Supplemental insurance for IVF should be purchased before you begin IVF treatment.
If you don't have insurance for IVF there is another option for this. Advanced Reproductive Care (ARC), Inc. is an organization that finances infertility treatment programs. The ARC Fertility Program offers many options such Affordable Fertility Option, Refund Guarantee on IVF packages and Affordable Monthly Payment programs.
Unreimbursed medical expenses with IVF are tax deductible depending on the income and level of expenses that were not reimbursed. Additional costs such as travel, fertility drugs and other expenses associated with IVF are also included in tax deductions.