Babies born through IVF were once popularly called "test-tube babies."
IVF stands for in vitro fertilization, a fertilization procedure that takes place outside the human body. A doctor fertilizes an egg with a sperm and implants the resulting zygote into a woman's womb. A single cycle of IVF can cost between $10,000 and $20,000 in the U.S., according to a 2010 article in Newsweek magazine. There are numerous methods you can use to help pay for treatment.
Instructions
1. Find out if you have insurance coverage. Your policy may have an infertility rider that will cover some or all of the costs of IVF. Check carefully with your insurance company. Get all quotes in writing. In certain states you may have coverage that will cover at least one full cycle if you meet certain criteria such as working for a company that employs a certain number of people.
2. Sign up for a paid study. Some medical centers offer people who meet certain medical conditions the opportunity to have at least some of their costs paid during a cycle. Contact the centers to find out if you qualify. You can also look up studies on the Internet that you may be eligible for. You may not get all your costs covered but you can get at least some of them covered.
3. Take out a second mortgage on your home. You can use the mortgage funds to pay for a round of IVF. Look into places that will allow you to tap into the equity in your home and use the extra funds to finance IVF. The extra funds you take out of your home may even be tax-deductible if you exceed certain income guidelines.
4. Set up a Health Savings Account, or HSA. You can set up a HSA to pay for legitimate medical expenses, including IVF, according to Sandra Block, a personal finance columnist writing in USA Today. Use the funds you set aside to help pay for costs. The funds are tax deductible. Contact your employer to find out set aside an automatic amount.
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