IVF procedures can be expensive, and many couples have insurance plans that will not cover the cost of treatments for In Vitro Fertilization. IVF doctors will often transfer more than one embryo per cycle to increase the odds of conception. This also increases the chances of multiple births: twins, triplets, etc. Multiple pregnancies come with a greater chance of high risk pregnancy, and premature birth. Hospital Indemnity Insurance can mitigate some of the financial risks, and pay an extra bonus for your IVF multiples.
In Vitro Fertilization costs can range from $10,000 to $15,000 per cycle. Fifteen states mandate some form of coverage. For those lucky couples with IVF coverage, financial concerns remain: what happens if mom misses extensive time from work, and what happens if the health coverage has hospital deductibles and co pays?
Most couples considering this procedure have no health insurance coverage that specifically covers IVF State mandates have loopholes, and 35 states have no mandate at all. So many couples must fund the treatment costs out of their own pocket. They face the added risk of: what happens to our finances if we experience a complicated pregnancy after paying all this money out of pocket for our IVF?
IVF and Twins, Triplets
IVF embryos are created in a Petri dish. A woman and her doctor determine the number of embryos to be transferred back to her uterus. The more embryos transferred, the greater the chance of pregnancy. The more embryos transferred, the greater the chance of a multiple birth.
The average single pregnancy lasts about 40 weeks, but a twin pregnancy often lasts between 35 to 37 weeks. Nearly half of all twins are born prematurely (before 37 weeks), and the risk of having a premature delivery increases with triplets, quads, etc.
Premature babies can have numerous health concerns. Because the needs of premature babies are so acute, preemies are often placed in a Neo Natal Intensive Care Unit (NICU) after delivery.
Hospital Indemnity Insurance Funds IVF
Hospital Indemnity Insurance is worth considering before beginning IVF treatments. It pays benefits directly to the insured, not to the doctors or hospitals as with traditional insurance. It pays a benefit for your normal labor and delivery. And the benefit may greatly exceed the premium you pay. Use the excess to offset a portion of your IVF costs.
Bonus for IVF Multiple Birth
Here is an important secret about certain Hospital Indemnity Insurance policies: your newborn(s) will automatically be covered for the first 30 days; even when you purchase coverage just for mom. The policy will pay an additional benefit should your newborn(s) be injured or sick.
Put the above all together for your IVF twins bonus: IVF is more likely to result in multiple pregnancies, multiple pregnancies are more likely to result in premature delivery, and premature birth is likely to result in sickness for the newborn(s). Therefore, Hospital Indemnity Insurance is likely to pay an additional benefit for each of your twins, triplets, etc.
For example, a policy with a $3,000 admission benefit would pay $3,000 for mom's confinement, plus an additional $6,000 for twins confined to the NICU, and $9,000 for triplets confined to the NICU. When you see what the coverage costs you will be amazed.