Young adults delay starting families due to IVF cost uncertainty
Research shows one in ten Gen Z and Millennial adults postpone parenthood over financial worries, while fertility experts advise early planning for treatment expenses.
By Chloe Phillips ·
Many young adults are reconsidering when or if to start families, with financial uncertainty cited as a primary barrier.
New data from Northwestern Mutual indicates that roughly 10% of Gen Z and Millennial adults say they are delaying having children because they are unsure how to afford it or what the financial impact will be on their long-term stability.
Kate Michaels, a managing partner at the firm, noted that money is often the factor pushing these plans into the future. She described the situation as a race between financial readiness and the biological clock of fertility.
When couples face infertility, in vitro fertilization is a common path. Michaels characterized this process as both emotionally and financially overwhelming for many families.
She emphasized that budgeting for IVF requires looking beyond the price of a single procedure. Couples must account for monitoring appointments and medical exams that occur before the main treatment begins.
"It’s not like you can only plan for an IVF cycle," Michaels said. "There may be monitoring appointments and medical exams that you need to account for before you even get to this bigger cost that you might be incurring."
Michaels advised that couples consider the potential need for fertility treatments when entering a relationship, rather than waiting until a diagnosis occurs. She stated that couples do not need to know if they will require treatment to have these financial conversations.
Speaking with a financial advisor early allows individuals to prepare for a wide range of potential costs. This preparation helps create a clear picture of what insurance will and will not cover.
Understanding coverage gaps allows couples to budget for out-of-pocket expenses, such as travel or additional procedures. Having this information helps determine how much money to set aside as a reserve.
Michaels explained that the partnership with a financial advisor provides peace of mind during a physically and emotionally taxing journey. She said, "The last thing that you want to be doing with your partner.. is to be feeling that financial anxiety."
Source: KAUU
