Starting a new conversation
Some people ask us why there is infertility insurance for children. The simple answer is that if you buy infertility insurance early in life, then that is when it is the most affordable for the largest amount of people. Treatments are expensive and traditional health plans often do not cover all the expenses. Infertility insurance that is purchased before an infertility diagnosis is the most affordable way to secure coverage for a future family. Let’s take a step back and take a look at the issue.
What is infertility?
Infertility refers to couples who have not become pregnant after at least 1 year of having sex without using birth control methods. Infertility is common, affecting about 1 in 8 couples in the United States. According to a Harris Poll, one in three American parents worry their children may suffer from infertility in the future.
How much does infertility treatment cost?
For most couples today, infertility is an unexpected expense, but it is a highly treatable diagnosis. In 85% to 90% of cases, infertility can be addressed with medical therapies such as medication or surgery. But, infertility treatments can be very expensive. One round of In Vitro Fertilization (IVF) can cost $12,400 according to the American Society of Reproductive Medicine. However,that may not include the cost of medications, testing and egg storage. FertilityIQ estimates it can cost $23,000 per cycle, and that couples may need on average 2-3 IVF cycles for a successful outcome. One study estimates that the cost of a child born using IVF can cost $56,775.*
Why purchase insurance?
Insurance is a way to cover unknown and unexpected costs. By paying a premium, you are exchanging that premium for the peace of mind that comes if you should ever need the insurance. The cost of premium is affordable compared to the potential future cost of an incident (or in this case a health diagnosis for primary infertility) without the insurance. With this concept in mind, the idea of creating an insurance policy for infertility was born. The hope being that insurance could provide a way to offer people a chance at covering the cost of infertility at an affordable rate.
Will my health insurance cover infertility treatments?
If you are lucky, your traditional health insurance plan will cover an infertility diagnosis and some treatments. However, according to Mercer’s 2017 National Survey of Employer-Sponsored Health Plans, only 26% of companies with 500 employees or more offer some type of infertility coverage. For small businesses or those who self-fund, adding an infertility coverage rider is often too expensive.
Why offer infertility policies for children instead of adults?
It may seem counterintuitive to offer infertility insurance for children, but it is less expensive to cover a condition that isn’t pre-existing. Having a deferred benefit allows time for the premiums to grow in value, and it allows us to pool risk so that coverage is both affordable and comprehensive for more people. A health insurance policy covering infertility for today’s adults, by comparison, would be much more expensive because the number of people who would apply would be much smaller and the time for the premiums to grow is too short to cover the costs. This is why many traditional health plans do not cover all the costs associated with infertility. “The fact is, public and private health plans offered by federal and state governments and private employers may never have the resources to pay $3 billion a year to cover costs associated with fertility treatments,” says LifeSpring CEO Jason Muesse. “By helping families planning ahead, we can change the way infertility treatments are insured and make them affordable.”
How can LifeSpring help future families?
For LifeSpring, our goal was to provide a solution and make infertility treatment affordable. We want the next generation of children to grow the families they desire without having to make the difficult decisions this generation is experiencing. “Our Primary Infertility Assistance Policy is the product that can change the way infertility is addressed in our country,” says Muesse, “because families won’t have to decline treatments because of finances.” Now available for Texas children, the policy can be purchased online by a parent, family member or friend, to provide 18 years worth of benefits at ages 18-35 to cover a child ages 0-13 and their future partner in the event they ever experience infertility. Learn more about the product, see the frequently asked questions, and apply for your custom quote today.
*Note: This number was obtained by taking total medical costs of $385,959,160 and dividing it by the total number of live births, 6,798 as shown in the study’s Figure 3.