IVF $$ question

suntoto

What type of financing will you use? 

Savings account? (can you tell me more about it, if you set it up on your own?)

Grants?

loan?

I am trying to get my thoughts together about financing IVF for us, since it looks to be our only option right now, and money is tight at the moment do to some job drama on the DH front.  

I am lucky that Shady Grove is helpful with some things, but if we could get a grant to fund some of it, than that will be HUGE.   I know our insurance won't cover IVF, so that is already off the table.  We want to do the Shared Risk program (3 FET and 3 IVF cycles) for $25,000 (b/c of my age we will do PGD and b/c of the weirdness of DH's SA's (it's all over the spectrum in terms of amount usable) each time we do iui, we might have to do ICSI- so that is factored into the cost. 

damabo80

My first RE did a "if the first one didn't work, we'll give a second one for free if you pay OOP" for IVF. I'm not sure what my current RE does. With the shared risk (I don't know that much about that program), do they offer any sort of additional perk like that, beyond the 3 mentioned, or are the 3 contingent on the first one not working?

Also, will you be using any donated meds, or would meds be covered through insurance?

As far as our own financing, we have two IVFs covered (have to be done in separate calendar years though.) But, our insurance is in bed with my RE office, so if a person with my insurance wants to do IVF in this area, they have to do it through this clinic, and this clinic only does IVF for people who have my insurance or are OOP. Each IVF is covered for up to $10k. My co-worker did that and a FET and the $10k covered both the IVF (with ICSI) and the FET (she had to pay about 1,500 OOP), which sounded pretty good. However, she responded really well to the meds, so she only used a minimal amount.

If we tap out both of the covered IVFs, then depending on how well I responded, we may spring for one more OOP. As far as the financing is concered, we'll probably just write a check for it as opposed to a loan. But, we're pretty agreed that for any beyond that one, or if we would need donor eggs, we'll do adoption (higher success rate and all that) for a comparable amount of OOP money spent.  

 

suntoto

damabo80:

My first RE did a "if the first one didn't work, we'll give a second one for free if you pay OOP" for IVF. I'm not sure what my current RE does. With the shared risk (I don't know that much about that program), do they offer any sort of additional perk like that, beyond the 3 mentioned, or are the 3 contingent on the first one not working?

Also, will you be using any donated meds, or would meds be covered through insurance?

As far as our own financing, we have two IVFs covered (have to be done in separate calendar years though.) But, our insurance is in bed with my RE office, so if a person with my insurance wants to do IVF in this area, they have to do it through this clinic, and this clinic only does IVF for people who have my insurance or are OOP. Each IVF is covered for up to $10k. My co-worker did that and a FET and the $10k covered both the IVF (with ICSI) and the FET (she had to pay about 1,500 OOP), which sounded pretty good. However, she responded really well to the meds, so she only used a minimal amount.

If we tap out both of the covered IVFs, then depending on how well I responded, we may spring for one more OOP. As far as the financing is concered, we'll probably just write a check for it as opposed to a loan. But, we're pretty agreed that for any beyond that one, or if we would need donor eggs, we'll do adoption (higher success rate and all that) for a comparable amount of OOP money spent.  

With the shared risk (I don't know that much about that program), do they offer any sort of additional perk like that, beyond the 3 mentioned, or are the 3 contingent on the first one not working?

With Shared Risk, you are guaranteed 6 cycles (3 FET and 3 IVF) and if you don't get a baby with that you get your money back.  Most Shared Risk costs ~$20,000 but with ICSI and PGD it is more.  Shady Grove does work with the Cade Foundation, but their Grants are only for $10,000 and we obviously need more than that.  

Also, will you be using any donated meds, or would meds be covered through insurance?

It will be donated meds.  Insurance won't cover them...

I wish I had your insurance as it sounds like a lot is covered.  Unfortunately that is not the case with my insurance.  Also, unfortunately, VA is not a mandated state.  

Did you have to set up a fertility savings account?  If you did that, HOW did you do that? My work doesn't offer that perk, but I am sure there is a way to do it with pre-tax money, I just don't know how to do it.  

damabo80

suntoto:

Did you have to set up a fertility savings account?  If you did that, HOW did you do that? My work doesn't offer that perk, but I am sure there is a way to do it with pre-tax money, I just don't know how to do it.  

When I select my insurance/401k/life/eye/dental/etc at the end of the year through my employer, one of the things I need to select is how much I want my employer to take out of my paycheck (on a yearly basis) to put into a health savings account. It is nice, because it's just one of the pages my employer takes me to online to select the amount. I don't have to do anything special.

Last year, I selected $1k/year (burned through that waaaay too quickly).

How it works is that I would save the receipts showing anything health-related that I paid for (such as meds/co-pays, etc). I then had to fill out a form specifing how much I should be reimbursed for, what the money was used for, the dates, etc, and attach a copy of the receipt. I then faxed the forms and the copy of the receipt to the dept that handles it and about a week later I got a check in the mail. It was a hassle filling out the forms and all that, but from $1k at a 30% tax rate, I figured I saved $300, so it was well worth it. Next year I'm putting in a sh!tload more money into that program.

bbhalphen

The Shared Risk thing sounds good.  I haven't looked into our payment options yet, but my friend that goes to my RE said that they paid half when they started and half in the middle of the cycle.  I would hope to have other options, though, seeing some of the options that yall get.

Right now our plan is to wait a little while.  My vehicle will be paid off in a month, and I was talking about taking that money each month and just putting it in a savings account for IVF.  I think it would take almost a year or so to save up, though, if we did it that way.  DH is wanting me to get a new car, though, and this sounds kind of greedy, but after these two shittastic years, I feel like I deserve one.  He says we'll still be able to save for IVF.  So I don't know.  We're at that point right now. 

DoingItRight

I know that my FSA account will only let me put $4,000 in it.  I am trying to figure out what we are doing for the next year.  I just wish that I could have had my first apt before the 9th, because I have to have all my decisions made by the 10th.  Does not give much time for consideration.

 

I hope that you are able to figure out all this money stuff.

jcath

I took a hardship withdrawal out of my retirement plan.  We'll go over 7.5% of our adjusted gross income in medical expenses so there were no fee's to withdraw.  I hated to do it but we needed about $35,000 to cover two cycles and I can't afford the loan payment on that.  If you or your husband have a plan - it's worth looking into.  It's so awful how stressful the whole process is and to add all the financial stress on top is about to send me over the edge.

suntoto

damabo80:

suntoto:

Did you have to set up a fertility savings account?  If you did that, HOW did you do that? My work doesn't offer that perk, but I am sure there is a way to do it with pre-tax money, I just don't know how to do it.  

When I select my insurance/401k/life/eye/dental/etc at the end of the year through my employer, one of the things I need to select is how much I want my employer to take out of my paycheck (on a yearly basis) to put into a health savings account. It is nice, because it's just one of the pages my employer takes me to online to select the amount. I don't have to do anything special.

Last year, I selected $1k/year (burned through that waaaay too quickly).

How it works is that I would save the receipts showing anything health-related that I paid for (such as meds/co-pays, etc). I then had to fill out a form specifing how much I should be reimbursed for, what the money was used for, the dates, etc, and attach a copy of the receipt. I then faxed the forms and the copy of the receipt to the dept that handles it and about a week later I got a check in the mail. It was a hassle filling out the forms and all that, but from $1k at a 30% tax rate, I figured I saved $300, so it was well worth it. Next year I'm putting in a sh!tload more money into that program.

That is something specific offered by your employer.  I don't have that.  Do you know of how to do this without going through an employer who offers such great things?  We already put $$ aside for our savings, but we can afford (at the moment) to put some in savings and an IF account.  I do wish more companies offered health flex spending accounts.  Unfortunately, that is not the case.  

suntoto

jcath:

I took a hardship withdrawal out of my retirement plan.  We'll go over 7.5% of our adjusted gross income in medical expenses so there were no fee's to withdraw.  I hated to do it but we needed about $35,000 to cover two cycles and I can't afford the loan payment on that.  If you or your husband have a plan - it's worth looking into.  It's so awful how stressful the whole process is and to add all the financial stress on top is about to send me over the edge.

Hugs to you.  Yeah, this whole process is so hard and I really hate that so many of us have to go through it.  Unfortunately DH won't let me touch our retirement.  He is the one in charge of $$ in our relationship- he is under some delusion that we will get to retire early.  

Did you look at grants?  This is what I found:  

• https://www.nobabyonboard.com/options.html
• https://www.ehow.com/about_5501940_grants-infertility-treatment.html
• https://www.ehow.com/how_5469246_grants-infertility-treatments.html 

I did not even realize until I started looking into affording IF treatment, that you could apply for grants.  Google does provide some hidden gems. 

We are on the if-y side of the loan.  DH doesn't want to take one out until we refinance the house. (ugh) I suppose we could afford it with a loan, but ugh, it is just.one.more.thing.to.worry.about. 

Congress just needs to get their act together and pass the Family Building Act (LOVE Kristine Gillbrand and she isn't even my senator!) so we all have mandated coverage.

suntoto

DoingItRight:

I know that my FSA account will only let me put $4,000 in it.  I am trying to figure out what we are doing for the next year.  I just wish that I could have had my first apt before the 9th, because I have to have all my decisions made by the 10th.  Does not give much time for consideration.

I hope that you are able to figure out all this money stuff.

God I wish I had a FSA.  It would have helped to pay the medical bills that insurance did not cover with my ectopic.  Yeah, I am slightly jealous of your FSA right now!

damabo80

suntoto:

That is something specific offered by your employer.  I don't have that.  Do you know of how to do this without going through an employer who offers such great things?  We already put $$ aside for our savings, but we can afford (at the moment) to put some in savings and an IF account.  I do wish more companies offered health flex spending accounts.  Unfortunately, that is not the case.  

 Do you have a tax advisor? I wonder if you would able to earmark funds spent on health items for some sort of deduction if it's over a certain amount...however I'm not sure if IF costs would fall into the category.

To open a HSA, contact a local bank. Many banks offer HSA for individuals. For 2010, here are the contribution guidelines, which is only about 15% of your total OOP cost, as assuming you're about at a 30% tax bracket, it should save $1k or so. Some of them do the receipt-method thing, but many others will give you a debit card which would withdraw directly from the account. That way, you won't have to submit any paperwork.  

 Maximum HSA Contribution:
$3,050 for individual
$6,150 for families

I'm apalled that while insurance can sponsor Viagra, they won't include IF treatments (at least the meds and monitoring). Good luck. I hope you're able to figure out a way to make it work.

surfergirlkona

Hi sweetie!

I would have loved to apply for grants and all those great opportunities, but as you know age is not on my side.  Our insurance cover absolutely nothing for IVF so we borrowed the funds from parents so to not deplete our savings.  They have been very generous with doing this for us and forever are we grateful.

 PGD testing is very expensive and only really necessary if your family has a history of specific birth defects or carriers of certain genes.  This is how my RE explained it to us. We are not doing this since we have no family history.  What we are doing is PGS or PGD for aneuploidy testing and is significantly cheaper then PGD.  This is a brief summary of it and the lab we are using 

https://www.genesisgenetics.org/genesis-24.html

Have you received a cost sheet from your RE regarding IVF? 

 

ETA:  Look clearly into those shared risk programs, many of them have catches.  No doctor is going to give you back your money. 

 

butterfly843

We have a savings account through our bank. But does your RE's office run any studies? Mine runs a few and your cycle is almost completely covered if you qualify for the study.

KelinandKevin

We joined the Attain IVF multi-cycle program (different from shared risk).  It gave us 2 IVF's and 2 FET's for $15,550 NOT including diagnostics, blood draws, OB ultrasounds and of course, meds. I estimate that with everything we have spent around $20,000 (maybe even a little more) this year on IVF.  But we still have 1 IVF and 1 FET left to use if we need it.  We financed 10k with a medical lending company and then paid the other 10k out from my 401(k) that I cashed in when I changed jobs. I plan on writing all of that off on my taxes - of course.  Even the car rides to and from the RE which is over an hour round trip.

All of my FSH (Follistim and Menopur) was donated to me thanks to some wonderful bump ladies.  Everything else was luckily covered by my insurance with low co-pays. 

jcath

suntoto:

jcath:

I took a hardship withdrawal out of my retirement plan.  We'll go over 7.5% of our adjusted gross income in medical expenses so there were no fee's to withdraw.  I hated to do it but we needed about $35,000 to cover two cycles and I can't afford the loan payment on that.  If you or your husband have a plan - it's worth looking into.  It's so awful how stressful the whole process is and to add all the financial stress on top is about to send me over the edge.

Hugs to you.  Yeah, this whole process is so hard and I really hate that so many of us have to go through it.  Unfortunately DH won't let me touch our retirement.  He is the one in charge of $$ in our relationship- he is under some delusion that we will get to retire early.  

Did you look at grants?  This is what I found:  

• https://www.nobabyonboard.com/options.html
• https://www.ehow.com/about_5501940_grants-infertility-treatment.html
• https://www.ehow.com/how_5469246_grants-infertility-treatments.html 

I did not even realize until I started looking into affording IF treatment, that you could apply for grants.  Google does provide some hidden gems. 

We are on the if-y side of the loan.  DH doesn't want to take one out until we refinance the house. (ugh) I suppose we could afford it with a loan, but ugh, it is just.one.more.thing.to.worry.about. 

Congress just needs to get their act together and pass the Family Building Act (LOVE Kristine Gillbrand and she isn't even my senator!) so we all have mandated coverage.

I'm with you on Congress needing to get their act together.  I also totally get your dh's take on retirement.  I'm lucky in that both dh and I have generous employer matches and he has always been saving for us both so mine was just gravy.  Because of my IUIs this year we wanted to do everything we can in 2010 - it will be one hell of a tax deduction.  HSA's are great but you'll get the same benefit on your taxes if you go out of pocket for this.  HSA's help when you don't itemize medical deductions.

csquared426

Our insurance covers nothing, so we will be taking the money directly out of our savings account. I didn't know there was such a program ad Shared Risk, or that we could apply for grants; I will have to look into this. I have an FSA account, but it is a $3000 cap.

Good luck!