Any couple struggling with infertility will tell you that finding resources to pay for In Vitro Fertilization (IVF) is a frustrating process. IVF refund programs provide an option that preserves resources for further attempts, and/or adoption. There are three things every couple should investigate before signing on to an IVF refund program: verify you have the right insurance coverage, know how tax laws help, and consider supplemental insurance to offset costs, and create extra security.
IVF refund programs are designed to increase the odds of taking home a baby, while helping you manage costs. You typically get a discounted fee for IVF multiple cycles, and if you don't take home a baby from the hospital you are refunded 60% to 70% of your fee. These programs are available to couples who meet qualifying medical criteria, and clinics report success rates of 75%.
1 - Double check your health insurance coverage
Refund programs are meant for couples whose health insurance does not cover IVF. Before making a monetary commitment make sure you have done the proper research on insurance coverage. Many couples miss an important point about health insurance coverage: you need to know the insurance laws in the states where both spouses' employers are headquartered - not where you live. Many couples live in non-mandated states, but work for employers headquartered in mandate states.
2 - Know the tax laws
Your health insurance may not cover many of your procedures, but your un-reimbursed medical expenses are tax-deductible. If you are traveling, or employing medical tourism to find lower cost clinics your travel costs are deductible as well. Use the flexible spending account from both spouses' employers.
3 - Investigate Supplemental Insurance
If you qualify medically for an IVF refund program, your clinic is saying you have a 75% of delivering a baby. You also have a 75% chance of being on the hook for their entire fee, and then losing mom's income during her maternity leave, and perhaps longer if complications arise. You also have a greater chance of conceiving and delivering multiples. Multiple pregnancies run a greater risk of premature birth.
Short term disability insurance will replace mom's income during her maternity leave, plus during any time missed prior to delivery due to complications. Hospital indemnity insurance will also pay benefits for mom's normal labor and delivery, and an additional amount should your child require extra care in the Neonatal Intensive Care Unit (NICU). Hospital indemnity may also pay a double or triple benefit should multiples be born prematurely, and require medical attention in the NICU.