An increasing number of couples today are dealing with fertility problems. Most infertility, about 85% to 90%, is treatable with modern medical techniques. However it tends to be very expensive, so costly in fact that many couples simply cannot afford it. And, for those who can, the costs involved can put an immense strain on their finances. This is why infertility insurance is becoming increasingly important.
Simple tests to check whether you are infertile can run to hundreds of dollars, medications can cost up to $1,000 a cycle, assisted reproductive techniques around $5,000 and IVF over $12,000 per cycle.
Infertility insurance offers a possible means of financing your infertility treatment without ruining you financially. There are three main types of infertility insurance available today. Standard Health Insurance is where you pay a monthly premium, and this covers the cost of certain fertility treatments. Refund Programs are where you have to pay for all your fertility treatment up front, but if the treatment is unsuccessful, then you get a percentage the money refunded to you, normally between 70% and 100%. Financing is where you take out a loan to cover the cost of treatment, but, if you fail to conceive, you do not have to pay back the loan in full.
When choosing infertility insurance, firstly check what cover is provided by your existing plan. You need to make sure that all testing, medications, and fertility treatments, including IVF or other types of assisted reproductive techniques are covered. If your insurer doesn't cover these, then it is time to look elsewhere.
There will of course be limitations as to who can qualify for infertility insurance: normally you have to be under 40 years, have been dealing with infertility for a certain period of time, and you will have been a policy holder for at least one year.
While it has its limitations infertility insurance is definitely an option to help with the cost of infertility treatment. Discuss with your partner the which option is most suitable for you.
Laura O'Rorke is an infertility expert. For more great articles and helpful information on infertility insurance, visit http://www.overcominginfertility.info
