Does your company cover IVF insurance? That's the most common question every struggling couple poses.
Approximately, 7.3 million of women in the United States have resolved to using fertility services. In vitro fertilization or IVF is a treatment recommended by physicians to couples who aren't able to conceive after many years of trying. IVF treatments are quite expensive, it would cost around $10,000 to $15,000 per cycle. Not all couples can afford IVF treatment. They need the help or assistance of insurance companies to pay for their treatment bills.
Types of Infertility Insurance
There are three main types of infertility insurance:
- Standard Health Insurance requires you to pay certain monthly premiums in exchange for coverage of specific fertility treatment options.
- Refund Programs are programs that refund your IVF expenses of up to 70% - 100% for an unsuccessful IVF cycle.
- Financing loans are available to cover IVF expenses. For an unsuccessful IVF cycle, the loan may not be repaid in full.
IVF Group Insurance
For many couples who want to conceive and can't afford, group insurance for an IVF treatment is very elusive. It's very rare for insurance companies to include IVF insurance in their coverage. And only a few employment companies include IVF insurance. If employers do not provide IVF coverage in your insurance policy your only option is to convince your employers to add such benefits or opt to use your insurance reserve pool to pay a portion of your IVF treatment.
In the United States, fifteen states have laws that mandate that infertility services be included in their insurance policies but it does not directly specify that IVF will be covered as well. These states are Arkansas, California, Connecticut, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, Montana, New Jersey, New York, Ohio, Rhode Island, Texas and West Virginia.
Individual IVF Insurance
No insurance company allows full coverage for an IVF treatment. Individual insurance companies will only pay a portion of the total cost. There are several factors why insurance companies do not cover IVF treatments. First of all, IVF treatments are expensive and only a few couples would avail this type of insurance. It would be a loss for insurance companies to pay full for an expensive treatment which only a few avail.
Supplemental Health Insurance for IVF
If your health insurance plan provider does not cover IVF treatment do not lose hope as there are other ways to make IVF treatments more affordable. If you can find a fertility clinic that supports a refund program then you are definitely qualified to get supplemental health insurance coverage. Through supplemental health insurance you can cover yourself in three different ways. First, you can get a refund for a failed IVF treatment, a triple return in a normal delivery, and some extra insurance protection. Other protection includes pregnancy complications, accidents, premature birth due to IVF multiple pregnancy, illness, and postpartum disorders.
Not everyone can avail fertility insurance. For couples who can't afford to go through such treatments, it is a great help to have an IVF insurance to lessen the burden. But trying to conceive is just the beginning of all the expenses, make sure you can afford to actually have and raise a baby.