Building a family by having children is a milestone that many couples desire. Our dreams of family bring up images of cuddles with small children, family vacations and quality time together. Fertility, however, is not guaranteed for everyone. This is why it’s so important to have the best insurance for fertility if it is needed. It may take medical intervention to diagnose the underlying reasons for a couple’s infertility. Lifestyle changes and the latest technology offer hope for many couples who want to pursue having their own biological children. But Assisted Reproductive Technologies, such as IVF and IUI, can be expensive and take more than one round of treatment to be successful.
Primary health plans leave gaps
It is an unfortunate circumstance that most primary healthcare plans do not cover expensive treatments like the various types of In Vitro Fertilization (IVF) and Intrauterine Insemination (IUI). The Kaiser Family Foundation reports that roughly half of Americans receive insurance from their employer (48% in Texas). A very small number of them offer these treatment benefits for infertility. One study found that 26% of larger companies in the U.S., those with 500 employees or more, offer benefits for fertility treatments. Companies such as Progyny make fertility benefits more cost-effective to employers who want to offer this health coverage to couples and single parents. Yet, half of Americans get their health insurance from sources other than an employer, if they are covered at all.
State mandates are incomplete
And, while roughly one-third of states mandate companies of a certain size to offer some type of fertility coverage according to RESOLVE, small employers are exempt from those rules. Companies who self-fund are also not subject to state mandates. Short of a federal insurance mandate for the specific diagnosis of primary infertility, it is likely that typical group, individual and public health insurance plan benefits mean couples must pursue growing their biological family in other ways. FutureFamily is one such company that provides fertility financing to offset the cost of IVF and egg storage.
Supplemental health policies are a promising alternative
The financial and emotional toll of pursuing treatment can mean that some families are unable to pursue having their own biological children. Some may decide to abandon their dream of family altogether or pursue building their family through adoption. A different type of insurance that covers an infertility diagnosis can provide vital health coverage without breaking the bank.
LifeSpring Insurance Services, whose founders have years of experience in insurance, examined the problem through the lens of insurance. They felt that it wasn’t fair that parenthood is pursued only by those with the means to afford fertility treatments. The solution they created is a supplemental health insurance product, the first of its kind in the nation. The Primary Infertility Assistance Policy is purchased for children under age 13 with a deferred benefit covering fertility treatment for a couple between ages of 18 and 36, so they can pursue their path to parenthood.
LifeSpring CEO and Co-Founder Jason Muesse explains why this policy is designed for children: “When families buy a supplemental policy before it is needed, that policy can be offered at the lowest possible cost with the most financial benefits. When you own a policy for a possible future infertility diagnosis, its premium is a fraction of its value.” That means the time to make fertility treatment affordable is years before treatment is needed.
The benefits of a supplemental health insurance plan for infertility
LifeSpring’s Primary Infertility Assistance Policy covers what most health insurance plans do not. This includes drug therapy, diagnostic testing, IUI, lab tests, IVF, surgical care, egg and sperm retrieval and storage and more. The policy covers both the beneficiary and his or her future partner because primary infertility is a couple’s diagnosis.
The cost of treating infertility is high and overwhelming for most. For a one-time payment of $2,000, which can be paid in monthly installments, LifeSpring’s Primary Infertility Assistance Policy for Texas children ages 0-13 offers a deferred benefit from age 18-35 that pays up to $50,000 for a whole range of infertility treatments including IUI and IVF for the beneficiary couple if they ever need it when they decide to have their own biological child.
LifeSpring Insurance Services innovative policy gives many more families a way to ensure their children have the financial resources they may need to start a family if they ever need fertility treatments. No longer will it matter who their employer is, what type of insurance they have and how much money they have in the bank. Coverage is offered without waiting periods, deductibles or coinsurance.
LifeSpring’s innovative insurance plan invites any caring adult, parent, relative, godparent or friend to purchase the coverage for any Texas child. The resulting gift will last long into the future with 18 years’ worth of benefits from age 18-36. This Primary Infertility Insurance Policy will give them what they need to pursue their own biological child if they or their future partner ever requires treatment for primary infertility. It gives today’s families the best chance possible to insure their future family.
LifeSpring Insurance Services was founded in Austin, Texas, by insurance executives Jason Muesse and Eugenie Shea. It took them five years to develop a plan that was affordable and delivered comprehensive benefits to remove the barrier of finances for infertility treatments. The resulting Primary Infertility Assistance Plan is an admitted insurance product in Texas, which means the insurance policy has been reviewed by state regulators at the Texas Department of Insurance to ensure the plan will be available for years to come. They plan to pursue approval for the product in additional states.
Easy and Private
It’s quick and easy to apply. The insurance application, quote and payment can be finished online in about 10 minutes. When a beneficiary reaches age 18, the insurance ownership will transfer to them, so they can access it and file a claim when they and their partner are ready to start a family. Supplemental health insurance policies cover medical expenses that traditional health plans may not cover. There’s a good reason for that. If a comprehensive health plan covered everything possible, it would be difficult for most people to afford it. This is why the Affordable Care Act covers 10 essential benefits and part of why fertility treatment isn’t one of them.
A supplemental health insurance plan that covers infertility is a way to plan ahead to care for future family before they need it. This gives the investment in the one-time insurance premium time to grow, so it will be ready for those couples who need it to pursue having their own biological child. As parents and grandparents begin saving for their child and grandchild’s future education, wedding and home, this policy becomes an investment to help them build their future family — a precious gift.