A large part of the IVF process is paying for it. The financial stress can be almost as bad as the emotional. Especially at the beginning, it seems you are just throwing out hundred dollar bills to anyone who comes near you. In 2014, we were not prepared enough to ask for a cost breakdown up front. We just paid for everything with cash as we went. Because of a settlement from Cam's wreck a couple of years before, we were able to pay for IVF without taking out any loans. (I count that as one of the miracles in my life and will be forever grateful for God's provision at that time.) Another factor in not having to take out loans was my job. My last day in my management position was only a few days before we had our first IVF consultation. I actually quit my job partly because of IVF. It was demanding both physically and emotionally and I was being asked to do far more that I was capable of on a good day. I knew I could not do both IVF and keep that job. I think the financial stress is much more this time because there isn't a large amount of money in the bank account, and I have not worked in over three years. This time we had to get a little creative in paying for IVF and we pretty much know every penny that was spent.
In November, we took out a home equity line of credit. We did not have to use it all, but it's there so we have it as needed. (which is a good thing, since we are on our third cycle in 2017) Our clinic does have a couple of lending companies who work with them, but I was told by a lady in the office that the interest was far too high in her opinion and a personal loan or equity loan from our bank was going to be much better for us.
When we were in the 'should we do IVF again' phase of the process, I called to get a price quote for IVF so I could be prepared for when we decided to make it happen. Surprisingly, they do not give out that information. You only actually get that info when you go in for the financial consultation, and that is right before the actual IVF process, not as you begin the testing phase, (which can cost a bundle as well.)
Being the persistent person I am, I researched the procedures, read back through all my old blog posts about our previous IVF and called back. If they couldn't give out a price quote, I was going to ask specific questions and at least have a good estimate of what I was going to have to pay.
Luckily, I did get someone on the line who was willing to spend some time with me, and she gave me prices for all the items on my list as well as any other procedures I had not thought of. They did not have an actual, consolidated price quote to send me, but they did have the general information. I just had to know exactly what to ask.
I took that quote and built my spread sheet from it. As we had expenses come up, if they were part of the quoted cost, I had a column with that quoted cost in it. If it was something not included in that quote, I put $0 in the quote column so I could see the actual difference in the quoted cost and the actual cost.
Below are pictures of our spreadsheet. I wanted to be able to give you the actual document, but I need to use a different platform for my blog - this one will not allow me to attach documents. The images are small, but if you click on them, they get bigger. If you would like a copy of the actual document for your own use, I would be happy to send it to you. Just comment below and I will get in touch.
PAYING FOR IVF
There are lots of articles out there that tell you how you can pay for your IVF. This one might be a little different than the vast majority of them, in that I am not going to encourage you to ask for money from anyone. Personally, I find it distasteful for a couple to start a Go Fund Me, etc. to pay for an adoption or for IVF. Asking people to give you money for a personal problem is awkward for both you and them and to me, says that you are not prepared financially to take care of and responsibility for the resulting child. As harsh as this sounds, I have talked to a lot of couples, and more people feel this way than you would think. Our infertility is our problem, and ours alone.
Having said that, here are some ways to help pay for your IVF that are practical and don't rely on donations from others.
1. Get a loan
It stinks. No one wants to have to take out a loan, but the fact of the matter is you probably will have to. Shop around and find the best interest rates you can, and get that loan.
2. Save
If you are like us, there isn't a whole lot left over after taking care of our responsibilities each month, but we can all find ways to save money when we are motivated. Even if you only have a few months to save, DO IT. Trim the budget and make it happen. You might not save enough to pay for all of your IVF, but you may be able to pay for a couple of test or ultrasounds, and that is fantastic.
3. Sell your junk
Have a garage sale! You will be having to make room for another little person in your life and in your house, so you might as well start now by getting rid of any 'extras' you have lying around. Doing a garage sale can make you a couple hundred bucks in a single weekend. To make it a bit more fun, ask a friend or two to do it with you. I'm sure you have a couple of friends who need to sell some stuff too. Another option is the BST pages on Facebook. We have been able to sell a lot of our bigger stuff on those pages.
4. Sell someone else's junk
I know... I already said not to ask for donations from people. This is different. When you decide on a date for your garage sale, ask friends and family if they have any items they would like to donate to your garage sale. Even if you are only given a ton of clothes, try to sell them. I have found that a well-organized, clean garage sale with clothing items hung up and displayed can actually make a mint. I usually do $1 on most clothing items on the first day and .25 to .50 on the second day. People will walk out with loads of clothes, and every cent adds up. If someone has larger items to donate, offer to try to sell it at your garage sale on a commission instead of you getting all the profit - it's a win for everyone!
5. Just say NO
There are a lot of extras you can actually say no to when doing IVF. For instance, I was prescribed a prenatal vitamin that was $80 for a 30-day supply. I opted out of it and instead went with a really good, food-based prenatal I got from Amazon for 1/4 the price. Now, you can't opt out of everything, but you can always ask, "Is this necessary" and decide what to do from there. Another way to save $ is to not do genetic testing beyond the required blood work at the beginning of the IVF testing. PGS, etc. is super expensive, and as I have previously written about, I'm simply not sold on it's merits.
6. Apply for discount programs
We qualified for 25% off of some of our IVF medications through the First Steps discount program. At over $500 / box of medications that only has 4 doses in it, 25% goes a long ways! 25% is the minimum discount. Some people qualify for up to 75% off!
7. Use your credit card
I know, I am sounding like I am advocating for debt here. I promise, I am not. There are going to be lots of payments made, and a lot of $$ spent. If you have a card that earns cash back, USE IT. Pay it off at the end of the month, of course, but get those points on your card. You may only earn a couple hundred bucks, but when you cash it out, you can use it for baby expenses or to make an extra payment on your IVF loan
8. Christmas
Again, I am NOT advocating for asking for money from friends and family. However, if you are in a family that does gifts, and you are asked what you want for Christmas, tell them you want money that will go towards paying for IVF. Our parents and grandparents were more than willing to give us cash instead of gifts (hey, it's way easier to wrap) because they knew it is what we actually needed. This can apply for birthdays as well.
9. Tax refund
As I talked about in my last post, you can possibly qualify for a pretty hefty tax refund because of the medical expenses racked up by IVF. You won't see this refund money for about a year after your procedure, depending on when you do your cycle, but unfortunately, you will still be paying for your IVF - and (hopefully) baby hospital bills by that time. Don't spend that refund on a new TV, or something frivolous, pay down your IVF debt with it.
***EDIT***
I would add one more way to earn some extra money to pay for IVF, one that should have gone on the original list
10. Work
Most of you probably do have jobs already. Even though I don't get a pay check for it, as a SHAM, I have plenty of work to do. Even if you are already working a full time job, you can find ways to bring home more money. Ask your boss if threes opportunity for over time, and take it. If that isn't an option, use your talents. Make things to sell, turn that photography hobby into an income, etc.
For me, this is where it is at. I am hesitant to sell my work or to advertise it because honestly, I lack the self-confidence and don't think I am good enough. BUT, I have worked past that and have been able to make some extra money by just doing things I already love doing.
Just be sure to keep track of what you make for tax purposes.
No comments:
Post a Comment
I want to hear from you! Leave a comment here.