For patients considering IVF (In Vitro Fertilization), one of the biggest obstacles they face is the potential cost of treatment. But with some planning and research, patients are relieved to learn that financial assistance is available, and there are a variety of options.
Dan Metzler is the managing partner of Philadelphia-based HFS (Healthcare Financial Solutions), a financial institution that handles loans specifically for patients who are seeking financial assistance with IVF or other fertility treatments. Working with Main Line Fertility, HFS offers a variety of options that helps patients address monetary concerns.
Metzler points out, “Most people know that IVF is an investment. They can’t write a check for the full cost of IVF and we want to support those who need it. The fertility market is unique. We know that the patients are going through a stressful time trying to conceive, and they are already dealing with a number of tests, medications, doctor’s appointments and learning about the procedures. This can be overwhelming, so anything we can do to lessen that burden will be helpful.”
The first part of the financial assistance program is getting pre-qualified on a loan. Most families are working within a monthly budget, so it’s essential to choose a loan option that that matches their lifestyle. HFS helps patients finance costs related to the procedure, from $750 up to $40,000.
Metzler says, “It’s important to know that ‘pre-qualifying’ for a loan does not affect anyone’s credit score. This process is referred to as a ‘soft pull’ or ‘soft inquiry’ on your credit, which is not the same as pre-qualifying for a mortgage. He added, “Honestly, if you can quality for the loan, that takes away 80 percent of the angst couples are dealing with. We really want to support them, walk them through the process and make it as easy and quick as possible.”
Patients are often pleasantly surprised to learn that the loan approval process can be a quick process, and depending on the situation, can potentially take just a few minutes. According to Metzler, “I’ve been able to secure loans for people who have told me they were going to start the process tomorrow, and others who said they have the procedure scheduled in a few months.”
He added, “A common misconception is that the patient must be the one who takes out the loan. People are often relieved to learn that a spouse, partner or even parents can take out the loan. It is considered a single applicant loan, so the person with the best credit rating is usually the ideal candidate to take out the loan.”
For more information about a loan for a fertility treatment please contact Health Credit Services at 844.437.6747 or visit: https://mainlinefertility.com/financing/