How Can Infertility Insurance Benefit the Stakeholders?
According to Section 2015.30 of the Illinois Infertility Insurance Mandate, infertility insurance is health maintenance organization coverage for the diagnosis and treatment of infertility (which includes prescription drug therapy). It is a kind of health insurance that supports a person to shoulder any type of treatment in order to correct his/her infertility for a monthly premium. Insurance companies provide the health care plan that covers a range of fertility medication and they will pay for it up to a specified maximum amount.
Infertility insurance covers two types of benefits: one it “covers” fertility treatments and second, it “offers to cover” fertility treatments. It usually depends upon the states upon which the infertility insurance coverage is enforced. However, there are three types of Infertility insurance: Standard Health Insurance, which requires you to pay monthly premium for certain coverage; Refund Programs engage in refunding the cash that you pay outright at a later date, if you still don’t have a baby yet and a financial assistance, which requires you to loan to cover up the expenses of the treatment.
Regrettably, there’s a general misconception that some insurance organizations will include infertility in their insurance coverage while some will not. That is not the case; the employer must be the one to lay out the facts if infertility is included in the coverage. Furthermore, if a person decided to self-pay his insurance coverage, it will be sensible not to divulge the plan to include infertility insurance in the policy. Infertility insurance is costly. It has the same expenses as a patient having chronic and/or terminal illness. It is important to know first how this insurance work and what the specific infertility coverage are included with it. Otherwise the insurer will not accept the application.
Only fifteen states in the USA have laws implementing the need for insurance coverage when a couple is undergoing treatment for infertility. I some states, a requirement would be at least a history of infertility for two years covering illnesses and causes. One of the requirement includes a patient’s egg must be fertilized with her spouse’s sperm.
In IVF procedure, some insurers impose a lifetime benefit cap of $15,000.00. Aside from this, other covered treatments include uterine embryo lavage, embryo transfer, ovulation induction, interuterine insemination, low tubal embryo transfer, GIFT (Gamete Intrafallopian Tube Transfer) and ZIFT (Zygote Intrafallopian Tube Transfer). For the coverage limitation, some includes oocyte retrievals. Oocyte means a female egg or ovum formed in an ovary. If all medically adequate treatments for infertility have been exhausted, these treatments shall be covered if all less expensive or affordable.
Currently, infertility insurance is not available for everyone. There is a Family Building Act launched in the legislation that shall involve infertility treatment to be an essential requirement of the basic OB/GYN services to be covered by the insurance companies.