Financing Fertility: Managing Costs for Later Parenthood

Thinking about starting a family but want to wait? You’re not alone. Increasing numbers of American women are choosing to have children in their 30s instead of their 20s. Interestingly, birth rates are rising among women in their 40s even as they decline among younger age groups.

While delaying parenthood has its perks, it can also come with financial implications. For instance, egg freezing typically costs around $10,000 for the harvesting process, plus an annual storage fee that can reach $500. Meanwhile, in vitro fertilization (IVF) can run up to $17,000 when factoring in treatment and medication expenses. If you opt for donor eggs, expect to pay $30,000 to $60,000, while surrogacy may exceed $100,000—all for just one cycle.

“For many women, one egg retrieval cycle isn’t sufficient,” stated a fertility expert. “Costs can multiply quickly, often requiring two or more cycles.”

Heidi Murkoff, author of a well-known pregnancy guide, emphasizes that despite advancements in longevity, women’s reproductive timelines remain unchanged. “While 40 might feel like the new 20 in many aspects, it doesn’t apply to fertility,” she noted.

If you’re considering waiting until you’re ready to start a family, it’s wise to think about your financial planning in advance. Here are five strategies to help you navigate the costs of fertility.

Consult a Fertility Specialist Early

Meeting with a fertility specialist can provide valuable insights into your reproductive health and how it may evolve. “We can conduct blood tests and ultrasounds to assess ovarian health,” said a reproductive endocrinology expert. “These evaluations can help identify potential issues, although age is a significant factor in egg quality and quantity.”

Regular testing can help you track your ovarian reserves. By testing annually, you can better understand when your fertility may be declining, allowing for timely decisions regarding pregnancy or egg freezing.

“It’s typically more effective to retrieve eggs when a woman is younger rather than undergoing multiple IVF cycles later,” the specialist advised.

New technology and startups are making fertility testing more accessible and affordable. “We have options that won’t break the bank,” the expert added, highlighting the emergence of innovative fem-tech companies.

Assess All Potential Costs

Understanding the full range of expenses is crucial for effective budgeting. The initial procedure cost is only one piece of the puzzle. Other costs may include anesthesia, medication, ongoing storage fees, and possible embryo testing. “Each individual's plan will vary, resulting in a wide range of costs,” the doctor noted.

So, what should you budget for? It often depends on your health plan coverage; however, anticipate needing around $15,000 for out-of-pocket expenses.

For example, one individual found her egg freezing cycle medication alone cost about $4,000, with blood tests nearing $800. It’s vital to verify what expenses your insurance will cover.

Understand Your Insurance Coverage

Review your insurance policy to learn what fertility services are covered. If your plan falls short, consider switching during the next enrollment period. While some plans may only cover testing and limited treatments, others might not include egg freezing unless medically necessary.

Notably, some companies, like Facebook and Apple, have begun offering comprehensive coverage for fertility services. “Our leadership recognized the need for support after a young employee faced cancer treatment that would impact her ability to have children,” shared a Facebook benefits director. Now, they cover egg retrieval, freezing, IVF cycles, and genetic screening.

Plan Your Savings Wisely

Saving is essential for funding fertility treatments, but there are strategies to maximize your dollars. “Consider using a Flexible Spending Account or Health Savings Account to set aside tax-deductible funds for future treatments,” advised Murkoff. Typically, flexible spending account funds must be used in the same calendar year, while health savings account funds can be retained until needed, offering tax-free growth and withdrawals.

If time is a concern, explore other financing options, including loans from fertility finance companies, clinic financing, grants from nonprofit organizations, and crowdfunding. Avoid dipping into retirement savings; you’ll want those funds for the future.

Prioritize Your Reproductive Health

Maintaining your health is the most straightforward and cost-effective way to protect your fertility. This includes a balanced diet, regular exercise, and annual check-ups with your OB/GYN. “You don’t need to plan for infertility, but being proactive can help preserve fertility for the future,” noted the specialist.

“Regular screenings are crucial,” Murkoff emphasized. Conditions like STIs, endometriosis, fibroids, and PCOS can significantly affect fertility.