How to pay for IVF: 5 ways

How to pay for IVF: a summary

• IVF is an effective way for many people to become parents, but it can be expensive, especially if you go through multiple cycles of treatment.
• Fertility grants are sometimes available, but they are limited, competitive, and might not cover all your treatment costs.
• In the US, most health insurance does not cover IVF treatment except in cases of fertility threatening illness, like cancer.
• Gaia can pay your treatment costs up front, and you can repay them after having a child.

If you’ve decided to pursue fertility treatment, you’re probably excited, maybe a little nervous, and likely wondering how to pay for IVF. The good news: doctors understand fertility and technology’s role in treatment every year, and these days, there are many ways to pay for fertility treatment. We’ll lay out a few good options if you’re feeling overwhelmed about the cost of IVF.

Paying for IVF with savings

‍If you have cash saved up for a rainy day, using savings to pay for IVF can be a good option. 

Pros: There’s no repayment interest rate or due date — you’re just replenishing your own savings over time, at a pace that works for you. There’s also no impact on your credit score.

Cons: In an unstable job market, depleting your savings can cause unnecessary stress on you and your partner, if you have one. If you’re also saving for a new home or other expenses related to raising a child, it’s wise to have savings set aside for those costs.

One last consideration: IVF is expensive, and so is raising a child. If you’re planning to use savings to pay for fertility treatment, set money aside to cover necessities for your family after childbirth. Because you (and your partner, if you have one) will likely take time off from work after bringing your child home, it’s smart to have some leeway in your budget.

Paying for IVF with credit cards

Many people put fertility treatment costs on a credit card. Charging your treatment can help you accumulate rewards points quickly, and the funds won’t come out of your bank account immediately, like they would with a debit card.

Our take: Putting fertility treatment on a credit card can be a good option if you can pay it off within a month, or better yet, immediately. Because a credit card’s APR is so high, you should consider another option if you need more time to pay back treatment costs.

A few risks to consider:

• Many credit cards have high interest rates — over 20% — that can add up quickly if you don’t pay down the balance.
• A card with a 0% introductory APR is an appealing option…as long as you can pay off the full amount of treatment before the higher interest rate starts. Read the terms of your card agreement carefully so that you understand the repayment terms.
• Credit bureaus keep track of factors like “utilization,” or the amount you spend divided by your total credit limit. Having high utilization for a long period can impact your credit score, even though it will likely only be temporary.

Paying for IVF with fertility grants

Just like schools offer scholarships, some organizations and clinics offer fertility grants. These are funds set aside specifically to help people offset the cost of their fertility treatment, and unlike loans, they don’t need to be repaid. You might be pleasantly surprised by the number of grants you qualify for based on your income, too — as Journey to Parenthood puts it, “The cost of living in different areas…varies so drastically, no specific income figure is relevant for all people.”

The downsides: as you might imagine, grants are limited, very competitive, and many require you to fill out detailed applications with specific information about your income, assets, and diagnosis, if any.

If you can get them, fertility grants are a fantastic way to help subsidize your costs. Just keep your expectations in check and think of them as scholarships — even if you qualify, the odds of being awarded a grant are low.

To explore options in your area, check out Fertility IQ’s list of fertility grants. 

Paying for IVF with personal loans

Because IVF is a medical expense, another option is to take out a personal loan, especially one specifically geared toward medical care. 

Medical loans tend to have lower interest rates and more favorable repayment terms than credit cards or other types of loans. Be sure you understand all the terms of the loan: the APR, repayment schedule, and any other costs, like origination fees. 

One caveat: Because you won’t know how many cycles you’ll need, what your medication protocol will be, or whether you’ll need additional tests or procedures, it can be hard to know exactly how much to borrow. If you borrow too little, you might not have enough on hand to pay for treatment; if you borrow too much, you’ll overpay in interest. For that reason, many people choose a fertility specialist loan. 

Paying for IVF with fertility specialist loans

With more people going through fertility treatment, there are IVF loans available now. Your clinic will likely have financing partners they recommend, or some companies offer loans that can cover multiple cycles of IVF treatment (Gaia is one of them!). 

There are a few notable benefits to IVF loans: they typically offer lower interest rates and more favorable repayment terms than personal loans; the loan provider can work directly with your clinic, so you don’t have to manage paperwork and bills; and many of them offer ways to offset treatment costs if you don’t have a live birth after a cycle. 

Some companies’ IVF loans include refund packages, where you can recoup some of your costs if you don’t have a child after a cycle of IVF. Others offer monthly repayments, which can be helpful to stagger your repayment costs. Be sure to check whether the IVF loan you’re considering has an early repayment plan. 

At Gaia, we work directly with your clinic to cap and fix your treatment costs so you know exactly what you’ll pay. Your cost includes all the essentials for your treatment, and you can repay over the course of up to 8 years. Your treatment cost is interest free throughout treatment and pregnancy — you won’t start accumulating interest until you bring your child home. For more details on how we compare to other payment options, including bundle packages and IVF loans, check out our pricing page or our guide to financing IVF.  

Will health insurance cover IVF?

In most cases, no, health insurance doesn’t cover IVF or other fertility treatment, although your insurance might help with some of your medication costs. Many insurance plans still consider fertility treatment “elective” unless it’s medically necessary, like if you’re preserving your fertility by freezing eggs or sperm before chemo. 

There are some exceptions: many insurance companies will cover office visits, like your initial consultation and monitoring appointments, and you’ll only be responsible for a co-pay. Insurance can also cover some blood tests and some medications. 

To find out about your specific coverage, call your company and ask to speak to someone about plan coverage for fertility treatment. If you have a partner with different insurance, it’s worth checking their plan coverage, too. Over the past several years, some employers have added fertility coverage to their benefits packages. See how each state handles IVF insurance.

‍Summary

While there are many options available for people who want to go through fertility treatment, it’s important to weigh the pros and cons for your specific situation. At Gaia, we’re working to make fertility treatment accessible to more people with a better way to pay for IVF. As experts in IVF costs, we’re here to help on your path to parenthood. Speak to our member support team if you have questions about where to start, what to ask at a consultation, or how to pay for IVF.

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