As if the heartbreak of realizing infertility problems stand in the way of your dreams of having children wasn't enough, you may now be realizing that it is quite expensive to go through many of the infertility treatments made possible by the advances of science. The good news is you do have plenty of options, and infertility insurance is available to lighten your concerns.
There are some infertility treatments which are rather inexpensive, while others are extremely costly. Just the initial testing can be thousands of dollars and if you decide to use a specialist, it may involve ongoing testing and visits, which add up quickly. Some assisted reproductive procedures may run well over $4,000 and if you need in-vitro fertilization you should expect it to be much higher. It is not uncommon for total expenses to reach or even exceed $10,000.
If this is beyond your current budget, you will need help like many others. One of the most reasonable solutions is to take out infertility insurance to help cover some of the expenses. First, you have to understand the options for taking out specialty insurance of this type.
If you already have health insurance, your company may offer supplemental coverage for possible infertility. Your employer may even cover this supplement. For a relatively small premium you may receive protection if fertility becomes a problem in the future. This type of policy will cover some or all of the expenses of many different diagnostic and treatment options. Some options typically included are fertility tests, artificial insemination and treatment of some health issues related to problems with conception. Your insurance company may require you to begin with the least expensive options, and there may be limits to the extent of ongoing treatment to be covered.
When the insurance is purchased before there is any hint of infertility, the prices tend to be lower. In fact some couples with pre-existing conditions have difficulty getting infertility insurance. The reason it is so inexpensive when purchased before diagnoses comes down to the low probability that any single customer will have infertility problems. Once infertility is diagnosed, the option of insurance is still worth checking into, but becomes more expensive when it is available.
Still, there is another interesting approach to the problem. You will be required to pay up front for the cost of the treatment in some plans, with refunds promised from the insurance if you are still unable to conceive successfully after a predetermined period of time. Refunds are typically between 70% and 100%.
The option of financing the treatment is not so much insurance as special loan program designed to make the costs more reasonable. Some financing loans do not require full payback if the treatments prove unsuccessful. In that regard it can be similar to a refund program.
With all of the upheaval in the health insurance industry today, it is advisable to seek the help of a specialist. Not everyone has access to this specialty insurance and it often depends on your existing insurance company. There may be age limits (such as maximum age 40 years) and existing customers may only be eligible. The insurance company could also require that you attempt natural pregnancy for at least a year before they consider you an insurable situation. Check into other restrictions and terms before purchasing a policy.
Infertility insurance is by no means an instant answer to the high costs of treatment, but it does make having children possible for some people. There are so many expenses already associated with becoming a parent that it would be unwise to use up your savings just trying to start your family.
Michael Key has written about a variety of technical and travel topics for three decades. For more information on infertility insurance look for his new book "Secrets of Infertility Relief" available only at InfertilityRelief.com.
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