A recent announcement in Ontario is good news for women under 43. Planned for the end of 2015, eligible Ontario women under 43 may have access to one round of publicly funded in vitro fertilization (IVF). The province is adding $50 million per annum to the current $20 million spent on reproductive services.
With one round of IVF treatment costing approximately $8,000 to $15,000, this announcement is a welcome boon for many women and couples in the province.
“This is incredibly significant,” said Carolynn Dubé, executive director of the Infertility Awareness Association of Canada, a national patient organization. “We are hoping other provinces will look at their funding models.”
There is some question about whether the coverage will be able to begin by December as promised by Health Minister Eric Hoskins, because no funding agreements have yet been reached with the fertility clinics. Hopefully agreements can be made and this funding can come into action within the designated timelines.
Business owners looking for benefits plan alternatives that can cover expenses that have limited or no coverage under conventional benefits plans (such as IVF) should consider a healthcare spending account (HCSA). A healthcare spending account provides coverage for expenses such as fertility treatments, special needs tuition, corrective laser eye surgery, and more.
Check out our FREE eBook for a comprehensive look at HCSAs: “The Smart Business Owner’s Guide to Healthcare Spending Accounts.”
More from The Benefits Trust:
- What Is a Healthcare Spending Account? [Video]
- Can I Have a Benefits Plan for Just One Employee?
- Introducing “Health Connected” – A New Wellness Benefit from The Benefits Trust!
- SelectFlex Benefits for Small Groups of 3 or More Employees - June 9, 2016
- Can I Have a Benefits Plan for One? [Video] - April 19, 2016
- Happy National Employee Benefits Day 2016! - April 4, 2016
- How Do You Transition from a Conventional Benefits Plan to a Healthcare Spending Account? - March 15, 2016
- Big News in Ontario: Women under 43 Will Have Access to Publicly Funded In Vitro Fertilization - October 26, 2015
- Do You Know These Details about Employee Assistance Programs? - October 16, 2015
- What Is a Healthcare Spending Account? [Video] - July 2, 2015
- FREE eBook! Get “The Smart Employer’s Guide to Healthcare Spending Accounts” - February 19, 2015
- Do You and Your Employees Know These Important OHIP Coverage Details? - February 13, 2015
- The Four Pitfalls of Self-Managing Your Healthcare Spending Account - January 14, 2015