Fertility and Financial Planning for Gen Z: Balancing Dreams and Reality
Fertility and Financial Planning for Gen Z: Balancing Dreams and Reality
As Gen Z reshapes societal norms, including attitudes towards reproductive health, they face unique challenges in family planning. Recent global studies indicate a decline in fertility rates worldwide, influenced by factors such as increased opportunities for women in education and employment, improved access to contraception and reproductive health services, and evolving perceptions of family size and personal fulfillment. This delay in starting a family, often seen as a consequence of these trends, can pose challenges as fertility begins to decline at age 30, significantly increasing by age 35.1,2
Access to Fertility Services
To navigate these challenges, many individuals are turning to fertility services like Assisted Reproductive Technology (ART), including in-vitro fertilization (IVF) and intrauterine insemination (IUI). However, the average successful IVF cycle can cost around $65,000, encompassing multiple rounds of treatment. This significant financial investment can pose a challenge for those aiming to delay family planning until later stages of their careers or personal pursuits and may be affordable only to those in certain socio-economic groups.
Coverage of Fertility Services
Access to fertility benefits varies widely. In the United States, only 12 states mandate insurance coverage for both IVF and fertility preservation, leaving many without financial assistance. Additionally, although 40% of U.S. organizations now offer fertility benefits to employees, these benefits are often tied to employment status and become unavailable if someone loses their job. Even for those fortunate enough to have coverage, the typical US fertility insurance provides a lifetime sum of $36,000, which is only sufficient for a single IVF cycle. Navigating eligibility can also be confusing due to differing insurance policy laws by state. In some states, eligibility for fertility benefits only kicks-in when a person or their partner struggles to get pregnant despite trying for a year (<35 years old) or 6 months (≥35 years old). In other states, specific ART services are covered by insurance if the patient hasn't been able to get or stay pregnant after trying other, less expensive treatments that insurance covers, with each law setting limits on how many cycles are covered.
For Gen Z, balancing dreams and reality means considering fertility options early on and understanding the financial implications. As they continue to redefine societal norms, advocating for accessible and affordable fertility benefits like Fertility Protect™ will be crucial for their future family planning endeavors.
References
Institute for Health Metrics and Evaluation. Global Burden of Disease Study. Accessed March 20, 2024. Available from: https://www.healthdata.org/research-analysis/gbd
American College of Obstetricians and Gynecologists. Having a Baby After Age 35: How Aging Affects Fertility and Pregnancy. Accessed March 20, 2024. Available from: https://www.acog.org/womens-health/faqs/having-a-baby-after-age-35-how-aging-affects-fertility-and-pregnancy
International Foundation of Employee Benefit Plans. Fertility Benefits Rapidly Rising as Employers Look to Attract and Support Talent. Accessed March 20, 2024. Available from: https://blog.ifebp.org/fertility-benefits-rapidly-rising-as-employers-look-to-attract-and-support-talent/
Resolve: The National Infertility Association. Insurance Coverage by State. Accessed March 20, 2024. Available from: https://resolve.org/learn/financial-resources-for-family-building/insurance-coverage/insurance-coverage-by-state/
Kaiser Family Foundation. Coverage and Use of Fertility Services in the U.S. Accessed March 20, 2024. Available from: https://www.kff.org/womens-health-policy/issue-brief/coverage-and-use-of-fertility-services-in-the-u-s/
FertilityIQ. Workplace Index. Access March 20, 2024. Available at: https://www.fertilityiq.com/fertilityiq/articles/fertilityiq-workplace-index
