One thing on everyones mind when heading into the assisted conception world is $$$. This new exciting journey is usually very expensive and can more then stretch the household budget. Sadly many couples must put off assisted conception for this reason only. For me this is an everyday thought as I work full time for a financial planning company. So investments, number crunching, future strategies and money in general is always on my mind.
When we started TTC we had a basic strategy in place which consisted of a regular savings plan which would in time pay for the following: maternity leave (as I do not receive paid maternity leave) and a general spending account for baby only (this included clothing, furniture, health care etc.). In the first 6+ months of TTC our plan was right on track, our savings was booming and I could visualise our future family budget working quiet well. It's a nice feeling when a plan comes together - don't you think?
My initial thoughts were the longer conception took the more money we would have saved, which could possibly mean more time off with our future baby, surely this was a win win scenario. When we started testing our savings balance was higher than we orginially pictured so when the news came we would not be conceiving any time soon due to our 'issues' we decided to purchase the motorbike. To be honest it was that or go insane with all this TTC business... we needed a break.
With our bank balance back to a lower value we started to plug away again as we were not ready to go down the IVF path yet, we still needed time to get our heads around it all so the few months break was nice for us mentally and the $ were slowly building up again. During this time Aaron's father insisted we go on a holiday to Bali with him in 2011, so naturally when things turned to shit TTC wise we realised we must start living again, we couldn't put off holidays any longer ... so we agreed and booked in for 2 weeks in feb/march 2011. This was exciting as many friends jumped on the idea as well however the bank took a nice hit again.
In dec 2010 we finally worked up the courage to book in and see our FS. When I got the referral to see this FS I asked to see whoever was the highest recommended in the male infertility field - of course this had to be one of the highest charging clinics in Perth. Our thoughts were - as long as they can achieve the final result we don't care about the cost. When I called to make the initial appointment I swear I stopped breathing after the receptionist listed the charges. I even remember calling Aaron and saying "let's just pull out now, surely this is just a sign this whole process is not for us". Apart from being heartbroken from the initial recommendations we were slugged $1,000 just for the first appointment.
Now this doesn't sound like alot but when you add up the next testing costs and the multiple vitamins we both take it adds up. After this appointment I walked into Medicare with my bundle of receipts and the lady behind the counter took one look at me, the paperwork I had and decided it was best we sign up for the Medciare Safety Net (this assists people with high out-of-pocket medical bills). She thought this was a great time to remind me how much fertility treatment costs and how often I would be claiming - thanks for that pep talk, just what I needed after a lovely day at the FS. I then went to HBF (my private insurance provider) to discuss my existing policy and see what my entitlements were - bottom line no cover for IVF treatments. Don't worry this discussion didn't end well either... the charming lady put her 2 cents in and insisted on telling me I was far to young for IVF and I should wait many more years before doing this - lets just say it was good my mother was there to drag me away ... as I was so close to clawing her face off!
At our FS appointment we were given the run down on the assessment cycle and future IVF cycles. The assessment cycle which I am doing in March will be approx $1,000 - $2,000 (depending on what my private health cover). They charge everything separately for IVF so from the general recommendation and a quick calculation we would be looking at approx $10,000 upfront (a portion of this will be claimed through medicare, approx half back).
Looking at the figures and weighing up the financing options is the hardest part for me. If this game was guaranteed I would be pulling this amount from my savings without giving it another thought ... but as we all know hitting the jackpot on the first go is (as they say on the AC forums) luck - pure luck. On average it takes 3+ transfers to achieve a pregnancy, this fact varies from clinic to clinic and other factors can effect the average but this just shows you could be at this game for a long time with many $ out-of-pocket. Many of the ladies I have met online have needed to make this hard financing decision. Some have pulled the funds from their savings, house equity, established loans, borrowed from family ... you name it, it has been done.
I find I factor in alot of extras in our family budget however as you can imgaine I personally did not factor in the need for assisted comception. So Aaron and I are now at the stage of working out where to pull this money from, our savings is looking low due to our holiday in the next few weeks however I am sure we will juggle around our finances to fund the expenses. What worries me is the need for multiple transfer - I guess we address that when the time comes.
I know it is not polite to talk about money or costs. I rarely talk about wages, savings, bills, strategies or advice etc. with close friends or family ... I feel like this is a very private matter as many people have different views, goals and objectives for their hard earnt cash. The main reason to blog about this topic is because it is confusing when visiting a FS, even if you feel financially stable this is still a large area that needs to be discussed. We all know money is one major point that can break a relationship so to be open about it is the easiest thing for Aaron and I, we do not want this to rule our IVF process.
If there is one thing I have learnt from my time in the finance industry is - money can not buy happiness, so don't let it rule your life, realtionships and decisions.
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