The rising costs of infertility treatments today have affected the livelihood and the credit card debt of numerous people in the United States alone.
According to ABC News, loans and credit card debt will continue to mount alongside infertility treatments being availed by women who are struggling to conceive a child of their own. In the country, ABC News reports that one cycle of in vitro fertilization (IVF) amounts to $12,400 per use.
Expenses Associated with Infertility
CNBC aims to shed light on the issue of infertility and how such treatments affect families and their overall financial situation. According to the news site, around $50,000 are needed to shoulder the total costs of conception through in vitro fertilization. This already comes with the assumption that most women will need to undergo more than one cycle.
ABC News further details expenses associated with conception. These typically include doctors’ appointments, genetic testing, embryo storage, medication, and other ancillary expenses.
Many women and families who are trying to conceive a child do not have enough money saved up. Often, these individuals rely on their insurance coverage to help them get in vitro fertilization treatments.
More than 7 million women have tried infertility services cites ABC News. However, CNBC notes that despite the rising numbers, insurance policies and coverage still remain limited.
As of writing, only 10 states in America have coverage and support for in vitro fertilization costs, including New York. The IVF insurance mandate entails health insurance options be made available for interested parties. However, as CNBC reports, there are still limitations to this coverage depending on the state’s and employer’s requirements.
Traditional forms of funding usually rely on the use of credit cards and loans. ABC News states that apart from these, more institutions and establishments are providing grants and scholarships to help shoulder these infertility treatments.