Financial Resources to Help Fund Fertility Treatments
Today’s reality is that most infertile couples will be successful parents if they receive a thorough evaluation and can proceed with treatment. This confidence for success is born of technological advances in reproductive medicine that define assisted reproduction. As with all new and cutting edge medical care, fertility treatment is an expensive endeavor. The best success rates require the latest advancements in equipment, materials and disposable supplies, but most importantly, they demand highly trained and skilled people to apply this technology. With so many other stresses, the financial challenge should not be a couple’s largest obstacle.
Recognizing that financing care is part of the road to success, NewLIFE has been successful in keeping costs lower than national averages. To assist further, please consider the variety of financial resources that other couples have utilized to fulfill their dreams:
Parents / Family– In all probability, there is no one who knows more about the joys of parenthood than those who have raised you. Your parents and family would want the same wonderful experience for you. They may also have the fortitude to assist by contributing financially to the fertility quest. Asking them to pitch in may be all that is needed to start the process.
Third-party Loans – Over the years, several lending companies have offered small loans for medical expenses and medication costs. The application process involves credit rating that determines the amounts available and the interest rates. Once approved, these companies issue payment directly to the patient, who then makes payment to NewLIFE. Companies that work with NewLIFE can be found on our website, Fertility Loans.
Home Equity Loans / Borrow from yourself – Banking institutions are willing to make small loans ($5-10,000) at current interest rates. They often recognize the immediate need for couples and locally owned banks desire goodwill from the communities they serve. Life insurance policies accumulate substantial cash value that can be borrowed at reasonable rates, as can values accumulated in retirement plans such as 401(k) and pension plans.
Visa/Mastercard Credit Card Accounts – Another approach that many couples find useful is to open a NEW credit card account that will be used for fertility services only. New cards offer low interest rates (some at 0%) that are usually fixed for the first year, allowing couples to repay over 12 months and pay little or no interest costs.
Savings Plan – If time is on your side (female <35 years), starting a monthly savings plan is a great option. Interest bearing accounts at banks can be set up to automatically deduct an amount from your paycheck(s) and will thus accumulate steadily. Many couples like this approach, thinking of it as a car payment with the advantage of interest compounding in their favor.
Fertility Grants based on Financial Need – Hope for Fertility and others are tax-exempt corporations that collect donations and distribute grants to couples based on financial need, diagnosis and proposed therapy. This is worth a try when appropriate for your income level. You may access other such foundations by Internet searches.
Crowd Funding – is the latest and greatest way to quickly create a fund for fertility care. Imagine 2000 people who don’t know you, but know what you are going through, who each donate $5. Done! Please read more about this resource on our website, Crowd Funding.
