We live in a time where trends and fades inspire and encourage others to take leaps of faith that they usually would not take. Studies show millennials are waiting longer to have children than any other generation. Also, the birth rate continues to decline rapidly. Many contribute the decline to complications or infertility issues that may occur for an older woman who tries to conceive. Others blame financial constraints on the decrease in childbirth. No matter the cause, a popular trend for women who want to wait yet prepare for the future is In Vitro Fertilization (IVF) and egg retrieval/freezing.
According to Extend Fertility, IVF is the process of immediately combining eggs and sperm in a laboratory to create an embryo then directly implanting the embryo into the woman’s uterus. Egg Retrieval or Freezing allows women to remove healthy and strong eggs to preserve for conception later in life. IVF and egg retrieval procedure have an expensive price tag of an average of $15,000-$23,000. You may be thinking now who has $23,000 sitting around for a procedure. You may be in luck. Supporting women’s reproduction is another positive trend that companies are adopting. We see an uptrend in companies changing their policies for women who have infertility issues and or want to prepare for the future.
Many are guilty of not reading their benefits package in its entirety. Nor do employees keep up with the changes that are implemented during the tenure of their employment. Women’s reproductive support is helping employers attract high performing talent, both male and female. This support is catching the attention of many. In this article, we will outline a few fantastic companies that are industry leaders in support of women’s reproduction and give some helpful tips to make sure your procedure is covered.
- Starbucks: Covers $20,000 for IVF benefits to all employees
- Proctor and Gamble: Offers 100% coverage for IVF and egg retrieval procedures
- Michelin Tire: Offers 100% coverage for IVF and egg retrieval procedures
- Volvo Group: Offer 80% coverage for IVF, egg retrieval procedures yet have a specialty medications cap, and one year of egg storage
- Intel: Covers $40,000 for fertility treatments and $20,000 for prescription
- Bank of America: Unlimited IVF coverage once medically diagnosed as infertile
- Facebook: Covers $20,000 for egg freezing procedure, adoption, and surrogacy assistance
If you are looking at this list above and do not see your employer do not fret my friend, financial and emotional preparation is vital. Since this article is about the commercial portion, we will stay on topic. If you are unsure about your benefits coverage, call your insurance provider for more details. Essential topics to discuss are the difference between the procedure, prescriptions, and storage for IVF and egg retrieval or freezing.
If your employers do not cover this procedure, you may want to check your partner’s insurance policy as secondary coverage. Not all companies are current with the climate of the world and may specify that their companion as male or female not yet acknowledging same-sex partnerships. Do not be discouraged; bring it to your employer’s attention and ask about potential options. Whatever you do, do not give up on your dream of having a child.
The medications needed for this procedure are considered specialty medication; most insurance coverages have a specialty prescription cap. If you exceed that cap, you are responsible for the balance. The medicine for IVF and egg retrieval helps the patient with suppression and stimulation and triggers the release of eggs. Come in close; you do not want smoke with that prescription bill. These medicines cost an average of $21,000. One medication, “Gonal-F 1050,” is $3,570.00 per vial. Yes, you read it right. Unfortunately, you will waste medication during your process. Check with your physician to see if they have any samples or donated medicine from previous patients if you run into financial constraints.
Since the egg retrieval\ freezing process will not develop an embryo immediately, one must consider the storage cost associated with this procedure. Storage costs run about $500 per year. Also, add $5,000 to unthaw, mate with sperm, and reinsert into the patient’s uterus. Most companies give a dollar amount or specify storage. Ask ask ask, you never know what the fine print covers.
There are several foundations and grants with the mission to help individuals and couples achieve parenthood. We suggest only taking this route if your insurance can not offer financial assistance. There are hundreds; however, we will provide a list of a few. There also grants available for individuals who live within specific city limits. We suggest googling or ask your physician for additional assistance to seek financial help.
- Tinina Q. Cade Foundation—Family Building Grant
- Pay it Forward Fertility Foundation
- Baby Quest Foundation
- Gift of Parenthood
- Chick Mission
- CNY Fertility
- AGS Scholarships
- Angels of Hope
Women’s reproduction support is essential and attractive to future leaders of tomorrow. Remember to consult your insurance providers about the procedure, prescription, and storage. The improvement of technology gives women the option to wait. Wait for the right time and partner. Many see IVF and egg retrieval commercials and only believe this process is for the rich and famous. No, this procedure can potentially be for you as well. My intention for this article is for the government to acknowledge and understand the value of women’s reproduction assistance and make it a national mandate. All women reserve the right to preserve their legacy.