Personal Loans

Paying for Fertility Treatment: What Are Your Options?

Whether you use insurance, credit cards, or a personal loan for fertility treatment, costs can add up. Learn about the ways to pay for fertility treatment.
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By Shannon Lee
Posted on: October 11th, 2021

Many people have dealt with the issue of fertility. In many cases, they’re ready to start a family, but after much discussion, testing, and worry, they find that their options are more limited than they hoped. Fertility treatment is often a crucial step in the pregnancy journey. But those treatments can come with a very high price tag.

According to Penn Medicine, the average cost of a single in-vitro fertilization (IVF) cycle — the most common form of fertility treatment — is between $10,000 and $15,000. Considering that the average success rate of IVF is 21.3% for women under the age of 35 and drops with age, that could mean several rounds of IVF in an attempt for a healthy pregnancy. Obviously, those numbers quickly add up.

There are several options to help pay for those fertility treatments.

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How to Pay for Fertility Treatment

The cost of fertility treatments can become manageable through one of these four options.

Insurance

Some are blessed with very good insurance that will cover certain reproductive measures, including fertility treatments. But in most cases, insurance will pay only for necessary medical concerns. This might mean insurance will cover some testing to help determine the problem. It might also pay for procedures that can help alleviate a problem that is causing infertility issues. For instance, a woman struggling with endometriosis might see her procedures covered under insurance.

Cash

Cash is king, as they say, and that’s especially true concerning fertility treatments. Even those with excellent insurance coverage might find that there are numerous aspects of the fertility journey that must be paid out-of-pocket. In those cases, paying with cash from a dedicated savings account can be the most prudent financial move.

Loans

There are many types of loans you can get to help you pay for fertility treatments. These loans break down into a few very clear options:

Personal loans

Personal loans are readily available online. Keep in mind that they can come with a hefty interest rate if your credit is less than stellar. But for those with a solid credit history, an APR as low as 4.99% is possible. That’s a lot lower than most credit card options.

Personal loans typically can be paid back over two to seven years and can go as high as $50,000 or more. That’s enough for two or three typical IVF cycles.

When choosing a personal loan for fertility treatments, take advantage only of those loans that you’re certain will cover at least one round of IVF or other fertility treatment. Check with your doctor to determine what that cost will be. It doesn’t make sense to take out a loan that won’t actually give you what you need.

Look for a personal loan for fertility treatment with no fees, no early payment penalty, a low APR, and predictable monthly payments. Use an installment loan calculator to get an estimate of what your payments will be.

Home equity loans

Home equity loans are funds borrowed against your current home equity. Home equity is the amount of money you have paid into your loan versus what you still owe on your mortgage. For instance, if your home is worth $200,000 and your mortgage is $100,000, you might have up to the $100,000 difference to use in a home equity loan.

These loans typically have lower interest rates, as your home is used as collateral. And it can always be advantageous to work with a company you already know and trust.

The rules and expectations for a home equity loan vary widely depending upon your lender and situation. Contact your mortgage lender to find out more.

Special medical loans

Those pursuing IVF might have the option of medical loans through their fertility treatment center. This might be a low-interest or even a no-interest loan. Some treatment centers allow a down payment and payments thereafter on the treatments, up to a certain number.

These loans can be very helpful for those who want to continue fertility treatments but don’t want to wait between cycles to raise the funds necessary to keep moving forward through their journey.

Credit card

The high interest rates on credit cards can be a deterrent to using this as a good option to pay for fertility treatments. However, snagging a card with a 0% APR for up to 18 months may help you breathe easier.

When using credit cards to pay for fertility treatments, keep in mind what the actual cost will be after interest is factored in. Make sure you have a plan for paying it all off as soon as you can. You don’t want to go through fertility treatments only to have the pressure of a ding on your credit report or bankruptcy hanging over your head.

Frequently Asked Questions

Are there any grants to pay for fertility treatment?

Grants for fertility treatments do exist, but they are highly competitive and might not cover the full amount necessary to complete a cycle. Look to places like Fertility Within Reach to find great options for your situation.

What is the best age for IVF?

In general, women who are over the age of 43 are not considered good candidates for IVF that uses their own eggs. The use of donor eggs might extend the age at which a fertility clinic is willing to work with you to have a baby.

How many rounds of IVF does the average person try?

The average is two or three attempts. Many will give up after three or four unsuccessful attempts and look for other ways to expand their family. However, keep in mind that new studies show that trying IVF for an extended period might show better outcomes.

When is it time to stop trying fertility treatments?

That’s a very personal decision. But many people choose to take a step back when they are feeling overwhelmed by the process, want to give their bodies a break, or are reconsidering their financial options.