IVF is amazing; but, IVF is expensive. But hey, you guys knew that 🙂 Some states mandate insurance coverage of IVF and fertility treatments, NC is not one of those. Son of a.
I read an article one time where a celebrity financial advisor gave advice to a couple seeking fertility treatment that “if you’re not ready to pay for the treatment, you’re not ready for the baby.” I could not disagree with this more. How disheartening is that to hear? You’ve been struggling for years to have a baby, there are ways to make this work.
I’ve mentally struggled with the cost of IVF for years. All of my already-parents-friends told me “there is a never a right time for kids financially”, so it helped to lighten the burden of thinking “when will we actually have enough?!”. We set a goal of saving $12,000 to get started, basing that number on research and our fertility clinic’s website. However, when our “orientation day” rolled around, we dropped $17,410.
This is me giving you too much info. But if anyone out there is like me…you feel more in control when you feel prepared. When you’re preparing for this journey, there are so many unknowns. The unknown expenses, the unknown emotions, the unknown side effects. Expenses…the blood work, the ultrasounds, the lab tests that lead up to your final fertility diagnosis. Emotions…the anxiety attacks that come at the most random times, the fear you feel every night because you have no clue what’s going on, the excitement like you’re a kid on Christmas morning but what if Mom forgot to get the Furby you wanted?! Side effects…the giant mountains of zits your birth control brings on, being zapped of all energy, the giant bruises from pinching needles.
WEEELL LET ME GET BACK TO WHAT I CAME HERE FOR….:) I am a mortgage broker, so for weeks I crunched numbers and researched medical loan lenders. We ended up using Prosper Financing (I also considered SoFi for a personal loan. They did an awesome job of refinancing my student loans). Prosper will either pass the funds to you directly or your fertility clinic. We applied for something affordable and have plans to pay off the loan within a year (not the three they’re giving us). This will cut WAY down on interest and essentially, we won’t be paying any extra. Amortization calculators are your friend.
Our clinic said IVF would be $10,500 for one round of treatment. There are payment plans they have established, but those are more for low-income families or families who are coming back for additional treatments. Because we don’t know what our outcome will be, the best option was a one-time payment for our one-time shot.
So here’s the $10,500…now we need you to pay $600 for the few weeks that we have to store Dawson’s sperm at the clinic…and we need $500 for the sonohysterogram to make sure your uterus looks good. Then there’s the $40 and $50 co-pays we each paid leading up to this day, plus a few hundred dollars in blood work and sperm analyses. I’ll skip those line items!
Then there was the call I made to our pharmacy, Freedom Pharmacy. They’ll be shipping me all of the meds needed for this whole process, along with the supplies to get it done. There are A LOT of drugs in there! So, I know the cost is necessary…but I spent $5,810 during a 40 minute phone call with them after being told to expect $3,000-5,000 in med costs. Also, side note, the customer service was great!
So in two days…$17,410. Upside?!?! Charging all of that to my flyer miles card and booking us round trip tickets to Chicago to visit our soon-to-be niece and nephew for $0!!! Haaaaay vacay!
I write this to say…plan ahead. Put yourself in control and budget. Set short term goals and long term goals. Type it all out, make a spreadsheet, and post it to your fridge! You can do this! You can save the money, you can make the babies, you can do it!