12 ways to save on surrogacy without jeopardizing quality
Bringing a child into the world through surrogacy is a beautiful and life–changing journey for the intended parents. However, the costs associated with surrogacy can be substantial, making it essential for prospective parents to find ways to save without compromising on the quality of care and experience. In this article, we will explore twelve effective strategies to help you navigate the financial aspects of surrogacy while ensuring that you receive top–notch services and support. From leveraging employee benefits and fertility coverage to making informed choices regarding clinics and programs, these methods will empower you to embark on your surrogacy journey with confidence and financial peace of mind.
Unlock Employee Benefits: Explore Fertility Coverage at Your Workplace
Many large U.S. companies — those with over 20,000+ staff — offer their employees’ fertility treatment reimbursement of up to $39,000 per surrogacy, adoption, In Vitro Fertilization (IVF), Intrauterine Insemination (IUI), or other fertility services because it helps them attract and retain a talent. A few large U.S. companies may cover up to $75,000 (lifetime maximum) for certain surrogacy services, making surrogacy more affordable for their employees looking to expand their families.
Middle–sized U.S. companies — those with under 20,000 staff — offer coverage for IVF treatment and egg freezing, while small U.S. companies — those with under 1,000 staff — may offer coverage for a full cycle IVF or certain fertility services, IUI expenses, and egg freezing.
On average, companies that provide coverage for surrogacy offer up to $20,000 per–employee–per–year to cover fertility expenses, contributing to their employees’ well–being and family planning needs. Therefore, it is worth looking into the fertility benefits offered by your employer to take advantage of these valuable resources.
Take Control of IVF Expenses: Unleash the Power of FSA and HSA
Your employer’s Flexible Spending Account (FSA) provides you with the opportunity to set aside pre-tax funds specifically for eligible medical expenses. On the other hand, Health Savings Accounts (HSA) are savings accounts designed for employees with high–deductible insurance plans, enabling them to use pre-tax funds to cover qualified out–of–pocket medical expenses. Notably, the funds in an HSA are owned by the individual and are portable, belonging to the account holder rather than the employer or insurance company.
If either you or your partner’s employer offers an FSA or HSA, it is essential to explore the account’s specifics. By doing so, you may discover the potential to use these funds to cover some of your in vitro fertilization (IVF) expenses or full IVF cycle.
Decode Fertility Insurance: Find Out What’s Covered and What’s Not
Building a family with gestational surrogacy is an exciting yet stressful time forcing you to feel like a bundle of nerves when it comes to balancing your finances. When it comes to insurance and surrogacy arrangements, the bottom line is this: few health insurance policies actually cover the total cost of surrogacy, fewer health insurance policies cover some of the services involved in IVF, like consultations, fertility screenings, lab work, or egg retrieval (routinely limited to one and if you need DuoStim protocol with multiple egg collection procedures, for example, two), and a few — cover IVF and embryo generation but standardly don’t cover inclusive testing like the genetic test of ovarian reserve and male fertility genetic test, medication, oocyte and embryo vitrification, sperm freezing, genetic compatibility test, preimplantation genetic testing, and other add–ons.
Typically, health insurance plans will cover infertility testing because it is inexpensive. However, many insurance providers will no longer pay for fertility–related services once the diagnosis has been established because IVF is more expensive than other infertility treatments. And nearly none insurance providers will pay for egg donor treatment, as it is more expensive than an IVF.
While there is always an exception, the simple answer is this: most insurance providers are hesitant to cover the cost of fertility treatments because they are expensive procedures in general. For example, in the United States, a single cycle of IVF treatment using own genetic material (own oocytes and sperm) without pregnancy & live–birth guarantee bill falls somewhere between $15,000 and $25,000 but it may cover only IVF and doesn’t cover genetic testing or embryo vitrification. A full cycle IVF including genetic testing, freezing an embryo and banking it can cost $30,000 or more. If Egg Donation IVF is required, the basic fee ranges between $16,000 and $50,000 depending on the donation type (frozen eggs from the Egg Bank, premium egg donor or standard egg donor, local egg donor or traveling egg donor), whether it comes with any guarantees like having at least three blastocysts within a single cycle or pregnancy guarantee or live birth guarantee, and so on.
Many insurance providers will also consider surrogacy as an elective procedure, triggering exclusions in the policy. For instance, an insurance provider may not cover the cost of additional screenings and tests, the mock transfer fees, transferring the embryo to the surrogate mother, nor will they cover the cost of using donated eggs in embryo generation, embryo vitrification, or paying for transportation of eggs, sperm or embryo from clinic to clinic, or from agency to clinic.
That is why it is so essential to read the print carefully before you agree to buy an insurance policy and ask questions — not just scan and sign, especially if you are planning to use the insurance for infertility treatments and surrogacy.
Regarding the intended parents’ insurance, some health plans may cover the maternity expenses for the surrogate mother, including prenatal and postnatal care, natural delivery or Caesarian section, staying at the maternity hospital for several days, postpartum delivery complications for up to 36 months, and other fees. Still, once again, the insurance providers won’t pay for any of the required fertility treatments necessary to create an embryo which will be transferred to a surrogate mother and medication.
Alternatively, a small number of insurance policies may cover certain assisted reproductive technologies like artificial insemination (IUI) or in vitro fertilization (IVF procedures), but only if the surrogate mother uses her own oocytes. Still, the number of trials will be limited to one or two, and they may cover only specific services like consultations, some screenings, some tests, management of the cycle, and the procedure, eliminating such expenses as medication, egg retrieval, additional attempts, and post–IUI or post–IVF screenings, tests, ultrasound scans, and other essential medical services.
As evident, there are a lot of maybes, what ifs, and ifs when it comes to health coverage for the intended parents and surrogate mothers. The reason for this complexity is that health insurance coverage for surrogacy lacks a simple answer due to the significant variation in policies across different states and agencies. Therefore, take the time to explore the different surrogacy agencies to compare their surrogacy process and the fees involved. Talk to more than one IVF center/fertility clinic as most offer a variety of packages, so you can choose the package which best suits your needs. Negotiate your options, ask questions, request inclusive and detailed information on pricing and what may skyrocket the surrogacy price tag, eliminate from your list experts who give you non–transparent answers on costs, avoid low–cost bundles that come without any backups and/or guarantees, and consult with new surrogacy professionals for having a second opinion. Finally, prepare your own questionnaire for all agencies/IVF clinics you are interested in starting to work with, note down their responses and fees, and compare the options they offer. This will be helpful to take the right decision.
View and Pay All Your Monthly Installments
The world of credit can be a complex and daunting one, with its various cards, scores, reports, and applications. However, if you are considering saving for surrogacy, it becomes crucial to delve into everything related to payment. To avoid any late fees resulting from missed payment deadlines, it is essential to list all your monthly installments for the current and upcoming months, exploring different payment options to find the most beneficial ones that could potentially help you save more.
While some companies and banks may be loyal on late fees, it is essential to remember that missing a payment deadline can still lead to accumulating interest on your balance, potentially adding to your financial burden. Therefore, before embarking on your surrogacy savings journey, you should review and manage your credit commitments, ensuring timely payments and staying informed about any associated interest rates. This strategic approach will not only safeguard your financial standing but also provide you with a clear path towards your surrogacy aspirations.
Create and Manage Your Monthly Budget
Whether you break out the pen and notepad or go digital and use an app or virtual notepad, your monthly budget should be in writing. Learn all about your spending: track where every cent goes, right down to those cups of coffee you sneak on the way to work, an extra lip balm, and your occasional indulgences. Identifying your spending patterns will give you a comprehensive view of your financial habits and help you determine areas where you can cut back and save more for your surrogacy journey.
Consider categorizing your expenses into essential and non–essential items. This way, you can prioritize your spending and allocate more funds towards your surrogacy savings. Look for ways to trim unnecessary expenses without sacrificing your quality of life. Small adjustments can add up over time and make a significant difference in building up your surrogacy fund.
Remember to also include your regular bills, monthly subscriptions, and any outstanding debts in your budget. Being aware of your financial commitments will prevent unexpected surprises and allow you to plan ahead more effectively. By sticking to a well–defined budget, you can make steady progress towards your surrogacy savings goal and approach the journey with financial confidence.
Reevaluate Your Expenses & Create Smart Strategies for Surrogacy Savings
Once you have broken down where your money goes each month, take the time to identify if there are bills you can slash or expenses you don’t need to pay. Got a thing purchased? Clear it and cut the expense. Paying a huge amount for holidaying or traveling? Explore the discounted offers or optimize the budget you can spend on them. For example, instead of booking tickets and an apart–hotel for this weekend and next one, make it three days (Friday noon to Monday morning) instead of two journeys.
Consider renegotiating contracts or subscriptions to get better deals. Explore alternative service providers or plans that offer the same quality at a lower cost. Be proactive in seeking out discounts, promotions, or loyalty rewards to make the most of your spending. Embrace a more mindful approach to your expenses and prioritize value for money.
While evaluating your expenses, focus on distinguishing between “needed” and “wanted.” Prioritize essential items and experiences that contribute to your overall well–being and happiness. At the same time, be mindful of areas where you can cut back on non–essential spending to allocate more funds towards your surrogacy savings.
It is essential to be disciplined in implementing these changes to your expenses. Consistency is key to making significant progress in building up your surrogacy fund. By reevaluating your expenses and making smart adjustments, you will be better equipped to financially prepare for your surrogacy journey with confidence.
Install a Wallet App to Your Devices for Tracking Your Monthly Expenses
Most of today’s Wallet Apps and Cards eliminate fees, provide innovative tools for managing your spending and reducing your interest, help you build your savings, and are designed to set a higher bar for privacy and security.
By installing a reliable Wallet App to your devices, you can effortlessly track your monthly expenses in a real–time. These apps offer user–friendly interfaces that allow you to categorize your spending, analyze your financial patterns, and set budgetary goals. Moreover, many Wallet Apps provide personalized insights and recommendations to optimize your spending habits and make informed financial decisions, making them an invaluable asset on your journey to better financial management.
Push On Real–Time Spending Notifications
By enabling real–time spending notifications, you gain a heightened sense of financial awareness and control. These instant alerts keep you informed of every transaction, ensuring that you always have your most up–to–date account activity at your fingertips. With purchases, balances, payments, and interest clearly and simply displayed in the Wallet app, you can stay on top of your financial health effortlessly.
Additionally, take advantage of the option to set daily, weekly, and monthly limits to further manage your spending effectively. By defining these parameters, you can curb impulse purchases and maintain a disciplined approach to your finances. When you make a payment, the app provides a transparent breakdown of the potential interest you could owe, empowering you to make informed decisions about your repayments and financial planning. Embracing these features of Wallet Apps allows you to proactively manage your financial well–being and stay on track with your surrogacy savings journey.
Opt for a Local Agency and Surrogate Mother for Enhanced Convenience and Cost Savings
Selecting a local agency and surrogate mother can significantly streamline your surrogacy journey, offering various advantages for intended parents. Firstly, working with a local agency and surrogate mother means that everyone involved is nearby, reducing stress and facilitating quick responses in case of any early delivery or medical needs. The ease of scheduling appointments and attending important milestones becomes more manageable, fostering a sense of comfort and support throughout the process.
Moreover, opting for a local arrangement can lead to substantial cost savings. By eliminating the need for extensive travel expenses, you can save on tickets, lodging, and food costs for both the case manager and the surrogate mother. These funds can then be redirected toward other essential aspects of your surrogacy experience, such as medical procedures, insurance coverage, emotional support for the surrogate mother, and newborn care.
When choosing a local agency, ensure you conduct thorough research to find reputable and experienced professionals. Additionally, establish open and transparent communication with the surrogate mother to foster a strong bond and mutual understanding. By embarking on your surrogacy journey with a local team, you can maximize convenience, build a supportive network, and make the most of your financial resources for a fulfilling path to parenthood.
Choose the Right IVF Clinic to Maximize Cost Savings
When selecting an IVF clinic, make sure to choose accurately, not impulsively. Prices for treatments can vary significantly between clinics, so it may be beneficial to explore options that are a few hours’ drive away to potentially save thousands in treatment costs. However, before making any commitments, inquire with your agency about the reputations of these more distant clinics. If your surrogate mother is not located near the chosen clinic, consider the possibility of shipping oocytes or embryos to a clinic closer to her location for a smoother transfer process. Be thorough in your research, as this method may involve associated risks and fees that need careful consideration.
Select Shared Risk IVF Programs with Multiple Cycles & Guaranteed Results
Shared risk programs, also called IVF Refund programs, can reduce the financial risk of having to undergo multiple IVF cycles as they come with backup options and money–back guarantee. These programs offer patients a flat fee that covers a set of treatment cycles, and in the event of failure, clinics provide partial or full refunds. This arrangement benefits both parties, as patients can pay a clear amount that will either lead to a successful pregnancy or result in a refund, allowing them to explore alternative fertility treatment options.
With shared risk programs, clinics share the financial burden since they stand to lose a significant amount if the treatment is unsuccessful. While intended parents may incur slightly higher upfront IVF costs, they gain the advantage of multiple cycles and the possibility of a refund if all attempts are not successful. This approach provides peace of mind for patients, ensuring that their financial investment is backed by backup options and the potential for a refund in case of unsuccessful cycles.
Go with Premium Surrogacy Program that Covers Unlimited Trials & Guarantees Live Birth
Choosing a premium surrogacy program that offers unlimited trials and guarantees a live birth might initially seem like a more expensive option. However, delving into the details reveals that these bundles can ultimately lead to significant cost savings and greater peace of mind.
When comparing the prices of IVF Surrogacy at fertility clinics in the United States, a single cycle may cost around $100,000 to $199,000, while opting for a guaranteed surrogacy program could range between $200,000 and $250,000. If Egg Donation IVF is recommended or required, the expenses can be even higher, starting at a base fee of $100,000 with the total journey potentially reaching $300,000, considering various factors such as preferences, circumstances, and location.
It is important to understand the cost breakdown of surrogacy to appreciate why the numbers may appear high. Starting with a basic surrogacy program may save approximately $100,000 initially, but it might lack the assurance of success. In cases where a single cycle costs around $100,000 to $199,000 and no embryos are banked for potential frozen embryo transfers in case of failure, the total cost of surrogacy could double.
Choosing a premium surrogacy program with unlimited trials and a live birth guarantee can eliminate the worry of unexpected expenses and potential setbacks. With such a bundle, intended parents can embark on their surrogacy journey with the confidence that even if the first attempt is not successful, they can continue until they achieve their dream of parenthood without incurring additional costs for each trial. This option provides financial ease and ensures that the journey to becoming parents is as smooth and worry–free as possible.
Conclusion
Embarking on a surrogacy journey to build your family is a significant undertaking, both emotionally and financially. While the costs can be daunting, there are numerous ways to save without compromising on the quality of care and support you and your surrogate mother deserve. By exploring employee benefits, utilizing FSA and HSA accounts, understanding insurance coverage, and creating a well–defined budget, you can take control of your finances and make steady progress towards your surrogacy savings goal.
Consider the advantages of working with local agencies and IVF clinics, as well as the potential benefits of shared risk programs and premium surrogacy bundles. By making informed decisions and evaluating your options thoroughly, you can optimize your financial resources and embark on a surrogacy journey that brings you closer to the dream of parenthood.
Remember, this is a journey filled with hope and love, and with these twelve ways to save on surrogacy, you can focus on the joy of growing your family while being financially prepared for the beautiful adventure ahead.