Cut Fertility Drug Costs

Fertility drug costs can seem daunting, especially if your employer does not provide infertility insurance coverage - as many do not. 

Let the IRS Cut Infertility Drug Prices

Your infertility drug costs are tax deductible.  You can discount infertility drug prices by offsetting tax savings.  You have two options, but one is clearly superior:

Take an itemized medical deduction on your IRS Schedule A.  Beware - the first 7.5% of your adjusted gross income will be subtracted from the total of your total infertility drug costs to determine your amount of tax savings. 

For example, if your adjusted gross income is $100,000 this means no tax savings on the first $7,500 of fertility drug costs. 

A Healthcare Flexible Spending Account (FSA) allows you to realize tax savings on your very first dollar of infertility drug costs, plus you may also reduce the amount of State, and FICA taxes you pay. 

An FSA may generate tax savings of 1/3 or more for all your infertility treatment costs.  For example: a couple in the 25% federal income tax bracket paying FICA taxes of 7.65% saves a total of 32.65%.