| Many couples considering infertility or IVF treatments | | | | couples don't have the savings set aside to pay |
| are often faced with a tough question: how are we | | | | these fees upfront, so they seek out loans that |
| going to pay for this? Most health insurance policies | | | | allow them to pay over time - with interest. |
| do not cover these treatments - unless you live in a | | | | A Healthcare Flexible Spending Account allows you to |
| state with mandated coverage, and work for a large | | | | get an interest free loan from their employer, and |
| employer. Many couples don't have that kind of cash, | | | | cut your infertility costs by one third or more. For |
| so they borrow money to fund the treatments - | | | | example, you could elect to contribute $10,000 into a |
| sometimes paying high fees. A common employee | | | | flex account. The full amount of the election is |
| benefit program not only provides an interest free | | | | available to be spent on qualifying expenses on the |
| loan, it also cuts the cost of infertility treatments by | | | | first day of the new plan year. Infertility treatments |
| 1/3 or more. | | | | such as IVF are qualifying expenses. Schedule your |
| Most health insurance policies do not cover the cost | | | | infertility procedure for the beginning of your |
| of infertility treatments such as IVF and others. | | | | employer's flex plan year. Your employer funds the |
| Fifteen states mandate varying degrees of coverage, | | | | full $10,000 election, and you now have fifty two |
| and these mandates apply only to companies | | | | weeks to pay back your interest free loan! |
| employing fifty or more employees. That leaves | | | | But that's not all. You will be paying back your loan |
| couples living in the thirty five other states, and | | | | with pre-tax dollars, which may cut your costs by |
| those working for small employers with no coverage | | | | one third or more. If you are in the 25% federal |
| for these treatments. | | | | income tax bracket, and paying FICA taxes of 7.65% |
| IVF and other infertility treatments can cost $20,000 | | | | your total savings is 32.65%. Savings may be higher |
| and upwards depending upon the procedure and the | | | | for people in higher tax brackets, or those living in |
| number of cycles they need to undergo. Many | | | | states with an income tax. |