Future Family Appoints New CEO, Expands IVF Financing and Insurance Offerings

Future Family, a leading provider of financing solutions for in vitro fertilization (IVF) treatments, has announced the appointment of Alden Romney as its new CEO. The company, which has extended over $200 million in financing to more than 10,000 families since its inception in 2016, is poised for further growth in the fertility care sector.

New Leadership to Drive Growth

Alden Romney, with two decades of experience in healthcare, including roles at One Medical and various behavioral health and fertility care businesses, will take the helm as CEO. Claire Tomkins, the founder and previous CEO, will transition to the role of executive chair.

"Coming back to partner with Claire and Future Family is a bit like coming home," Romney stated. "What's really excited me about this partnership is to increase the access and affordability of fertility care for families. It's a really emotional issue."

Innovative Financing Solutions

Future Family's core offering addresses the significant financial barriers many couples face when seeking fertility treatments. With IVF costs often exceeding $20,000 per cycle and limited insurance coverage, the company's financing model allows patients to make smaller monthly payments instead of daunting upfront fees.

The company's loans, ranging from $20,000 to $50,000 with monthly payments starting at $300, offer competitive interest rates between 7.99% and 23.99%. Unique features include a 90-day grace period before fund utilization and interest accrual, as well as the option for some borrowers to repay over 12 months with zero interest.

Expansion into IVF Insurance

Earlier this year, Future Family launched what it claims is the first nationwide IVF insurance program, "Baby or Your Money Back." Backed by a $400 million financing agreement with Clear Haven Capital, this program is expected to serve 20,000 families.

The insurance product offers two coverage options: two IVF cycles or two cycles plus medications. Patients pay monthly premiums throughout their treatment, with a guarantee of full cost reimbursement if unsuccessful. This innovative approach aims to mitigate the financial risks associated with multiple IVF cycles, which are often necessary for many patients.

As the company looks to the future, Tomkins envisions deeper relationships with clinics and further growth of the insurance product. "We are really scratching the surface in terms of meeting demand for fertility care," she noted, hinting at potential expansions into employer and payer markets.