Financial options

We know cost is an important factor in your decision regarding IVF. But there are ways to make IVF cycles more affordable.

Finding financial support

There are many financing options available for your IVF cycles and IVF prescriptions.
Many fertility centers offer IVF refund programs to make IVF more affordable. Clinics often offer a package of 2 to 3 IVF cycles at a discounted rate. For refund programs, some centers provide a percentage of cost to be refunded for failed IVF cycles, commonly termed “shared risk.”
You may be able to find financial assistance from some of the programs listed here. You also should speak to a financial coordinator—most fertility specialists and centers have financial coordinators who can refer you to financial assistance.

Select financial support programs

Select Ferring medication discount programs

Make the most out of tax benefitsa

If you can, take advantage of the IRS rule that allows medical expenses that exceed 10% of your adjusted gross income to be itemized and deducted from your annual tax bill. This could end up saving you thousands of dollars on your taxes. However, tax laws are always changing, so make sure you consult an accountant about the most current tax laws applicable to you.
Make sure you do the following before, during, and after your IVF cycle to get the most out of tax benefits:

Keep every invoice and receipt. You may be able to write off more than just the IVF cycle itself. Other expenses such as lab fees, prescriptions, and even travel expenses may qualify. Check the IRS website to find the most up-to-date information on what may be deductible, and talk with your tax advisor, if you have one.
Keep a record of each expense. If the IRS asks you to verify your expenses, it’s best to have a log of what each invoice and receipt is for.
Keep invoices and records for at least 7 years. The IRS can ask about these expenses at any time up to 7 years, so it’s best to be prepared.
If you didn’t deduct expenses from an IVF cycle from the previous year, amend your previous return. You may file IRS Form 1040X to amend previous tax returns to include your deductions. Form 1040X must be filed within 3 years from the date of your original return or within 2 years from the date you paid the tax, whichever is later.
Take advantage of Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). FSAs and HSAs are great to pay out-of-pocket medical expenses with pretax dollars. If your FSA or HSA account is not large enough to cover all expenses, you can itemize the remainder as deductions on your taxes.

aData from IRS.gov.