Financing Your Fertility Journey
Many people feel overwhelmed or unable to cover the costs of fertility care. While insurance may help cover the cost of certain services, only 19 states require coverage for infertility care. No one should have to choose between their finances and starting a family.
It’s no surprise that fertility services can be costly. Plus, where you begin your fertility journey is not necessarily where you end. At the start of someone’s family-building process, they may think they only need to purchase sperm but then decide on additional fertility services like in vitro fertilization (IVF) after a year of trying.
When planning for family-building, you may need to account for costs such as the cost of donor sperm, the cost of storing sperm for future procedures, fertility testing, IVF medications, and procedure costs. Labs, doctor fees, testing, egg, embryo, or sperm storage, and procedures are not only costly independently—they add up.
An IVF cycle can range from $15,000 to $30,000. When going through the family-building process, it is better to have a financial plan in place. Fertility financing works directly with your clinic to have a comprehensive overview of how much you’ll need to cover the cost of care.
At Fairfax, we know that your fertility journey deserves support, and support includes finances. While many financing options exist, few companies focus predominantly on fertility financing. We partner with CapexMD and Future Family to make financing more manageable so that you can create the family you dream of.
CapexMD
CapexMD has a wide variety of loan options to meet your fertility goals. The rates are generally much lower than using credit cards. CapexMD also works with you if you have a low credit score. Rather than fitting you to a pre-existing plan, they help to customize a loan based on your fertility needs. For example, you can add coverage for genetic testing.
The Application Process
When you apply, you can do so with your partner to include their information as a co-borrower. If you apply as a single person, you can submit as a borrower or co-borrower. It’s a straightforward 4-page application that’s easy to complete and you’ll be contacted within the next business day.
You’ll apply for the amount that covers the estimated costs of your services. CapexMD will inform you of the amount you qualify for if you are not approved. If you need future services, you can apply for another loan. Interest rates remain fixed for the entirety of your loan.
You’ll start by receiving a treatment plan from your doctor to estimate costs. The application process is quite simple. You’ll do the following three steps.
- Visit CapexMD and select “apply now”. There is a processing fee of $25, but it’s fully refundable if your application is not approved.
- Next, CapexMD coordinates with your fertility practice to decide on the right amount for the loan needed for services and medications.
- Within two days, funding for your loan is sent directly to your fertility practice or pharmacy.
After your loan is finalized, CapexMD will email you a medication voucher. Any unused funds will be applied toward your principal. There are no prepayment penalties if you decide to pay off your loan beforehand.
Future Family
Future Family’s founder, Claire Tomkins, went through a fertility journey of her own. After six rounds of IVF, she finally got pregnant with her daughter. Tomkins wanted to start a company that supports families through their fertility journeys. Financial experts counsel you on the package you’ll receive to cover your treatment and everything it includes. In addition to financial counseling, Future Family has registered fertility nurses on staff to help answer your questions and offer more comprehensive support.
Future Family offers both IVF and egg-freezing plans for fertility financing needs. The IVF plan covers lab costs, procedures, medications, and more. It starts at $300 to $475 for monthly payments. The egg-freezing plan starts at $150 per month.
The Application Process
Your treatment plan costs and interest rate determine your competitive monthly payment. No two Future Family plans are the same because they are customized for an individual’s unique care costs.
The online calculator makes it easy to select your down payment and see your monthly payment estimate. Prequalifying for a loan will not impact your credit score. Future Fertility sends payment directly to your fertility clinic. On your end, it’s one easy monthly payment to make.
Acceptance is based on a combination of factors, including your credit score, household income, and personal income. If you aren’t approved, you can always add someone else to your application or apply again in 30 days.
1. Sign up for Future Family
2. Work with a financial specialist to get pre-approved
3. Choose how much you’d like to borrow and the loan term.
Why Use a Service Like Future Family or CapexMD?
- Usually lower rates than credit cards
- Easy application process
- Fast approval
- No pre-payment penalties
- Confirmation of financial needs based on communication with your fertility clinic
- No hidden fees
- No annual fees
- Removes the financing pain point
Many people don’t know they will need fertility care to help achieve their family-building dreams until they do. It’s hard to tell people to save for something they won’t know they require. Even so, saving is not always possible based on income, unforeseen emergencies, and everyday costs.
Fairfax Cryobank partners with CapexMD and Future Family because they are fertility loan experts. You won’t have to work with someone who does not understand what you’re going through. While both companies are good choices, you do not need either service to initiate care with Fairfax Cryobank. We are proud to partner with fertility financing options to help make your family-building journey as seamless as possible.
