Parenthood is a dream that is shared by many, and while there are alternate options for achieving this dream (such as adoption and surrogacy), a great number of our patients also dream of experiencing pregnancy for themselves. Unfortunately, infertility is a problem more common than most realize and most people do not know they have fertility problems until they have tried to conceive for several months. At the Center for Assisted Reproduction, we offer many fertility treatments, including IVF, a treatment that assists in the multiple stages of conception, in order to help our patients achieve their dreams of pregnancy and parenthood. While these treatments are often successful for patients, they can be costly and are not typically covered by insurance. However, for many of our patients in Dallas in need of fertility treatment, FSAs may help lessen the financial burden of this care.
What Is a FSA?
FSA stands for flexible spending account. This is a special account that is now offered by many employers that allows people to set aside money from each paycheck (before taxes are taken out) so that this money can be saved and used for health care expenses. Expenses that can be paid for with a flex spending account include deductibles, co-pays, and the cost of other health care services, often including fertility treatment. Below are some important facts to know about FSAs:
- Employees can contribute a maximum of $2,500 annually
- The amount of money contributed is spread out over paychecks so that the cost impact is minor
- Contributions are made pre-tax, lowering your taxable income
- Once an employee signs up for a FSA, the entire contribution is available, whether or not that amount of money has already been drawn
- Any unused contributions to an FSA account will not be reimbursed, so be thoughtful and conservative in selecting a contribution amount
Another thing to know about FSAs is that the payment form varies by each plan provider. Many are now offering debit cards, which means the patient never has to worry about an out-of-pocket expense for medical treatment. Still, other plans require that the patient pay upfront for costs and then apply for reimbursement, which may come in the form of direct deposit or a check.
Other Financial Options
An FSA does help save people when it comes to taxes, and allows for the contribution sum to be spread out throughout the year, both of which are helpful in lessening the burden of fertility treatment costs. Still, the costs of fertility treatments can be significant and the $2,500 FSA cap may be exceeded by some of our patients. Fortunately, there are a great number of financial institutes that offer personal loans or credit cards that are meant to cover medical expenses such as fertility treatment. These payment plans (either alone or combined with a FSA) can help patients budget for the cost of assisted reproductive care.
Schedule an Appointment
At the Center for Assisted Reproduction, we offer a wide range of fertility treatments that address common fertility problems and help patients achieve their goal of parenthood. If you have been unsuccessful in your attempts at conception and would like to learn about your treatment options, schedule an appointment with one of our fertility specialists at your earliest convenience. We look forward to hearing from you!