Financing your fertility treatment can seem daunting. Here’s how to plan for it financially and take your next steps towards parenthood with confidence
Money touches so many parts of our lives—including our plans for parenthood. These plans might include exploring your fertility care options.
When it comes to planning financially for fertility care, you might assume that you’ll have to cover these costs on an out-of-pocket basis. Before you put down your credit card, take a deep breath and hope for the best, let’s go through some of the considerations and options for financing this journey. It is entirely possible to navigate your next steps towards parenthood with confidence and hopefully, with greater financial well-being.
See also: Velda Tan on Her IVF Journey, Suffering a Miscarriage, and Motherhood
Understanding the costs
Fertility care is an intensely personal and emotional journey, so it’s good to make sure that you’re financially prepared for it so you can focus on your emotional and physical well-being. Fully understanding the costs of your fertility care options can help you put a financial plan in place to face this journey head on.
There are a lot of variables when it comes to the costs associated with fertility care, including the type of treatment, the clinic or healthcare provider, the location and your individual circumstances. It's important to note that not all costs are applicable to every individual or couple. The specific treatment plan and any additional services required can significantly influence your overall expenses. It's advisable to consult with your doctors, fertility clinics and financial advisors to plan for these costs effectively.
Costs can include consultation fees, diagnostic tests, medications, procedures you might need (such as IUI or IVF or ICSI and embryo transfer), surgery, egg/sperm and embryo freezing, to name a few. If you are using donated eggs, you’ll also need to consider the costs related to donor gametes as well as for surrogacy. There are also legal and administrative fees that you’ll need to include in your planning. If you are exploring fertility care treatments overseas, you’ll need to include the costs of travel and accommodation. Your emotional well-being is important as well, so make sure you also cost out psychological and well-being support on the journey.
Finally, don’t forget to factor in how much time off from work you’ll need to take, especially if the paid time off that you may have access to does not sufficiently cover the time you need to undergo your fertility care treatments.
See also: Is the Philippines a new go-to destination for In Vitro Fertilisation in Southeast Asia?
Alternative financing pathways for fertility care
If you are exploring working with overseas fertility clinics, many of these clinics offer packages which include a bundle of treatments for a fixed package fee. It’s important to understand what’s included (and what isn’t) in these packages and ensure that any additional treatments that you require for your personal medical situation are captured into these costs.
Depending on your residency and/or nationality, many governments are increasingly providing subsidies covering a range of fertility care services, from egg freezing, procedures such as IVF, through to counselling and psychological support. These government subsidies are rapidly changing, so do check on the latest updates for your situation.
See also: Hong Kong Socialite Feiping Chang Gets Candid About IVF and Her Pregnancy Journey