Do You Have IVF Sticker Shock?

For many persons who have infertility, IVF is a viable option with successful outcomes. IVF is a form of assisted reproductive technology or ART. Known as in vitro fertilization, the process involves a fertility clinic extracting sperm and eggs to fertilize outside the body. The newly created embryos are then implanted for pregnancy. When someone starts exploring IVF, price is the first and often the biggest stumbling block. Few persons can pay out of pocket. So saving for fertility treatment becomes crucial.

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Why is IVF so expensive?

On average, IVF can cost as much as $20,000. Added to the fact that most couples need more than one cycle, the costs can rack up. Furthermore, IVF is either partially or not covered at all by insurance. But what makes the process so expensive? IVF is delicate, detailed, and involves several experts. Consultations, medications, tests, and added IVF techniques contribute to the price tag. There’s also a lot at stake, and clinics must be committed to providing high-quality service. So what can hopeful persons or couples do to pay for everything without the stress?

Set realistic goals

Before saving for IVF, hopeful parents should get a clear idea of the costs involved. Don’t forget to shop around. Some IVF clinics are cheaper, even if the clinic is out of town. With the actual figure, setting realistic savings goals become easier. Decide on the date to start and calculate how much money to save each month. Clear goals can make saving easier and more fulfilling.

Automate an IVF savings account

Statistics show that 69% of Americans have less than $1000 in savings. So saving for fertility treatment sounds out of reach. However, most people use memory and willpower to save money. This can backfire as the challenges of life can derail plans for IVF. Set up a savings account that can’t be touched. Then set up a direct deposit that goes to the savings account before any further spending. Stay disciplined and consistent, and IVF will be within reach.

Increase your income, if possible

The bigger the income, the faster IVF can happen. Hopeful parents should look for ways to increase income in one or more ways. Start by asking for more working hours or taking up a second job. Sell unwanted items, create content, or start a small business. Those extra hours will pay off.

See where you can slash expenses

As time goes on, look for ways to cut expenses. The cost savings can go straight into the IVF savings. For starters, speak with the bank to negotiate credit card or personal loan interest rates. Review all subscriptions like gym memberships and streaming services.
Finally, quit habits like smoking, alcohol, or expensive dinners. With a proper assessment of where the money goes, saving for IVF becomes easier.

Celebrate small wins

Anyone can get discouraged by the amount of money still needed while saving. But what about the amount saved already? Saving just $500 means that the goal is $500 closer, not that there are thousands of dollars to go. Celebrate the gains and not the gap.

Don’t be discouraged by IVF costs

The cost of fertility treatment is a major stumbling block for thousands of people with infertility. But with the right plan, saving for IVF is achievable. Speak with the IVF clinic for financial planning help and advice to make IVF dreams a reality.

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