Deciding to use in-vitro fertilization (IVF) to start or add to a family is a big decision that can have significant emotional and financial impact. To cover the possible on-going and expensive treatments, you’ll need to have plenty of savings on hand.
Funding for IVF varies dramatically across Canada, with some provinces and territories offering free treatments, tax credits and subsidies related to the procedures.
However, even with these covered costs, IVF treatment can still be costly. You may have to consider getting a loan. This guide covers how IVF loans work, what type of coverage you may have in your province, how to apply for one and things to avoid.
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How much does IVF cost?
In Canada, the cost for one single course of IVF treatment is between $10,000 and $15,000, however some treatments can extend up to $20,000 if there are exceptional factors at play. In addition, funding opportunities fluctuate greatly across different provinces and territories, with some provinces offering tax credits and subsidized treatments. Since IVF isn’t always successful after the first course of treatment, several attempts may be needed, possibly doubling, tripling or even quadrupling the total cost.
While some private insurance plans may cover a portion of your fertility treatment costs, and there may be provincial or territorial coverage, there are likely still going to be expenses that you’ll need to cover yourself. Be sure to check how much you’ll be responsible for paying after taking into account any deductibles, insurance coverage or government support.
How can I pay for fertility treatment?
Is IVF covered in my province or territory?
IVF coverage varies widely across Canada. Browse the table below to learn more about funding in your specific province or territory. Note that you can’t just apply to a neighbouring province if there’s better coverage. You need to live and work in a specific jurisdiction to access services.
The tables below give an overview of funding as of August 2018. Make sure you check the current information before making decisions.
Provinces
| Province | What’s covered? | What’s not covered? | Tax credits offered |
|---|
| British Columbia | Some tests and some infertility surgeries. | IVF or IUI (Intrauterine insemination). | No. |
| Alberta | Infertility testing and some surgeries. | IVF or similar treatments. | No. |
| Saskatchewan | Infertility testing and some surgeries. | IVF or costs associated with IVF treatments. | No. |
| Manitoba | Infertility testing and some surgeries. | IVF or similar treatments not fully covered. | 40% of treatments covered, including IVF, up to a maximum of $8,000 per year. Combined with other provincial/federal grants, up to 66% of the treatment could potentially be covered. |
| Ontario | Infertility testing, minor surgeries and one IVF cycle per eligible patient per lifetime. One additional IVF cycle if the woman is a surrogate. Basic infertility testing and surgeries plus one fertility preservation cycle for medical reasons per patient per lifetime. | Repeated IVF treatments and fertility drugs. | No. |
| Quebec | Consultation, infertility testing and surgeries. Drugs are partially covered. Provincial age is capped at 42 years old and couples must pay upfront. Partial return of money via tax credits. | Repeated IVF cycles. | Childless couples can access between 20-80% of expenses reimbursed, depending on their household income. |
Atlantic Provinces
| Province | What’s covered? | What’s not covered? | Tax credits offered |
|---|
| Nova Scotia | Infertility testing and some surgeries. | IVF treatments. | No. |
| Newfoundland and Labrador | Infertility testing and some surgeries. | IVF or costs associated with IVF treatments. | No. |
| New Brunswick | Infertility testing and some surgeries. | IVF treatment is not fully covered. | Yes. A one-time grant allows you to claim up to 50% of costs up to $5,000. |
| Prince Edward Island | Consultations. Other covered services are unclear. Contact a clinic for more information. | IVF or similar infertility treatments. | No. |
Territories
| Territory | What’s covered? | What’s not covered? | Tax credits offered |
|---|
| Yukon | Infertility testing, some lab exams, ultrasounds and surgical procedures. | IVF or any treatment associated with IVF. | No. |
| Northwest Territories | Infertility testing, surgical procedures and out-of- province diagnostic services. | IVF or costs associated with IVF treatments. | No. |
| Nunavut | No data available. | No data available. | No data available. |
Back to topShould I use a loan to pay for fertility treatment?
Since most IVF costs aren’t covered by insurance or public health, you might want to consider taking out a loan to pay for IVF. A loan can be a good idea if:
- Your insurance doesn’t cover all of your treatment costs.
- You’ve taken advantage of any provincial or territorial programs.
- You have good credit and a low debt-to-income ratio (DTI).
Consider looking at low-interest loans before applying for a personal loan. You might also want to ask about in-house financing when you start comparing personal and fertility loans, but make sure to compare all of your options before settling on just one.
Before taking out a loan, familiarize yourself with your financial situation. Knowing how much you need to borrow and how much you can afford to pay each month is key, as well as knowing your credit score and debts.
What are the benefits of IVF loans?
- Makes paying for IVF easier. IVF is incredibly expensive and taking out a loan breaks up the cost of IVF into more manageable chunks, making it easier to afford with bi-weekly or monthly repayments.
- You don’t have to wait. Loans allow you to get IVF right now, rather than waiting until you’ve saved up enough money for the treatment. You can usually get a loan within a few days.
- A range of loan options. Depending on your eligibility, you may have a range of financing options available to you.
- Reasonable terms and rates. Many loans come with flexible repayment terms and competitive interest rates so you can borrow affordably and pay back faster without getting into a spiral of debt.
What to avoid when taking out an IVF loan
When you take out any kind of loan, you should be aware of the following:
- High interest rates. Some loans can come with unreasonably high interest rates, resulting in you paying more in interest over the course of your loan. If you have a low credit score, expect to pay a higher interest rate.
- Hidden fees and charges. When you apply for a loan, it’s important to read the loan contract carefully to look for a list of fees and charges you might have to pay during the course of the loan. These can include application fees, administrative fees, early repayment fees and late fees.
- High monthly repayments. Make sure you choose a reasonable loan term that gives you monthly repayments you can afford – but not so long that you end up increasing the cost of your loan.
- Borrowing too much. Only borrow exactly what you need since you’ll be paying interest on the amount you borrow. Some lenders will offer you more than you actually request, so only take what you need.
How to apply for an IVF loan
Many lenders allow you to complete online applications for IVF loans, however some will allow you to apply over the phone or in person if they have physical branch locations. If you meet the eligibility requirements and have the necessary documents on hand, you should be able to apply for your loan in ten minutes or less.
Eligibility requirements
The criteria can vary between lenders, however you’ll usually need to meet the following:
- Be 18 years of age or the age of majority in your province or territory
- Be a Canadian citizen or a permanent resident with a valid Canadian address
- Have a working bank account
- Have a steady source of income
- Meet any necessary credit requirements
Necessary documents
When filling out the loan application, you’ll need to provide some personal information, including:
- Contact details such as your full name, phone number, email address, address and Social Insurance Number (SIN)
- Income and employment information
- Details of debts and assets
Frequently asked questions
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Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She regularly attends industry conferences to stay in the know about market changes that can affect consumers. When she's not helping people with their personal finances, you can find her at the movies or going for a run outdoors.
