Tubal ligation reversal can be expensive. Most couples must pay for the procedure without the help of health insurance. The upfront fees for the surgery can be a barrier for many couples seeking to have a baby.
A tubal ligation reversal payment plan can help couples afford the surgery today, and make payments over time. The clinic performing the procedure may offer a payment plan, or you can find other financing options. There are four approaches to making the payments more affordable.
- Lower interest payment plans
- Leveraging surgical success rates
- Medical expense deductions on payments
High Approval Tubal Ligation Reversal Payment Plans
You can find tubal ligation reversal surgery payment plans with high approval rates if you have excellent credit, or by expanding your time horizons. Not every patient qualifies for a loan or financing arrangement. Therefore, you may have to think creatively and look at alternative sources in order to begin your surgical treatment.
The two approaches with the highest approvals rates involve sub-prime lenders, and the use of insurance to cover your intended result.
Apply for an infertility loan with high approval rates. Lenders specializing in working with patients with less-than-perfect qualifications will review your application. If approved, you can have the money in your bank account within days.
Pay for your tubal ligation reversal over time with monthly installments. Expect to incur interest charges and an upfront origination fee.
Supplemental insurance for infertility is another alternative for a high-approval tubal ligation reversal payment plan. In this case, you make monthly premium payments at least until you have your labor and delivery. Remember that the objective of the surgery is for mom to conceive, and bring home a baby.
Most insurance plans will cover the initial tubal ligation procedure, but not the surgery to reverse the sterilization. The first procedure lowers downstream benefits costs while the reversal increases them. You must then find a way to pay out-of-pocket.
While traditional insurance does not cover the procedure, two supplemental plans will cover the objective: the hoped for normal childbirth. One stipulation is that the policies must begin prior to conception, which is not a problem for women considering the surgery.
Follow a simple payment plan example to see how you can use supplemental insurance to help pay for your surgery. Doctors recommend that women allow their body to heal from the surgery for several weeks, and wait for two menstrual cycles before attempting to get pregnant.
For the sake of our example, we can assume the policies are purchased in conjunction with the procedure. Mom conceives three months after the surgery and delivers nine months later. That equates to twelve months of insurance payments prior to delivery.
- Monthly payment – $150
- Total payments – $1,800
- Benefits paid for C-section delivery – $7,000
As you can see from the example, there is enough of a gap between the premium payments, and the benefits returned to cover the entire expense of an entry-level tubal ligation reversal. Moreover, additional benefits may be paid in the event of pregnancy complications, premature birth, delivery complications, accidents, and illnesses.
Low-Interest Tubal Ligation Reversal Payment Plans
Take full advantage of the IRS rules to give yourself two options for low-interest tubal ligation reversal surgery payment plans. Your unreimbursed expenses qualify as tax deductions, which can dramatically reduce your overall costs. Look at the savings as a way to lower interest rates.
Tax savings work like government grants. These deductions provide the biggest savings when bunched into a single tax year. Your employer’s Flexible Spending Account works out well also.
Lower the effective interest rate on your tubal ligation reversal payment plan by taking full advantage of the tax deductions. Squeeze as much of your qualifying expenses into a single tax year as possible.
The IRS limits these deductions to those above 10% of the family’s Adjusted Gross Income. A family with a $100K AGI may realize tax savings only on those totaling more than $10,000 in any tax year. By spreading your payments over two or more tax years, you risk losing the tax savings.
Flexible Spending Account
Flexible spending accounts provide a 12-month tubal ligation reversal payment plan. Time the surgical procedure at the beginning of your employer’s plan year. You employer must immediately reimburse any qualifying expense. You then have 12 months to repay your employer using pre-tax payroll contributions.
The primary benefit is first dollar tax savings. No matter what a couple’s earnings level, money contributed into the account reduces reported W2 income. Couples realize tax savings right away, without having to meet any spending thresholds.
Flexible spending accounts have annual contribution limits of $2,550. If both spouses have access at work, you can contribute a total of $5,500 in a single plan year.