Yes, we’re still here and we come with news

September 3rd, 2006

Hello Baby Or Bust readers! Yes, we’ve been neglectful lately and for that I am truly sorry. As I mentioned in a few previous posts, this hiatus has a couple of reasons. 1) We’re kind of in a holding pattern right now. But I do come baring news, and that is still to come. 2) My family has been on one hell of a roller coaster ride this past month. Unlike anything I’ve ever been through before. But we’ve also come together for each other and working through it- one baby step at a time. And lots of those baby steps are going to be required.

So, we have a little bit of financial news.  My company has started offering an FSA (Flexible Spending Account). We already have one through Shelton’s work and found out that I’m also eligible to carry my own. When we max out both of our FSAs, we’ll have $7,000 worth of pre-tax money that we can put toward our IVF. Isn’t that fantastic?? Imagine my surprise when I was looking through the itemized list of eligible medical expenses and found In Vitro Fertilization listed on there. Finally, one place that thinks it’s acceptable to cover this expense! Thank you IRS… now if we could convince the rest of the government to require insurance coverage!!

I strongly encourage EVERYONE** to find out if their company offers this benefit. Whether you’re going through IVF or not- but especially if you are. This allows you to put money away, pre-tax, for medical expenses. And depending on what your company caps at (ours is $5,000 and $2,000) you can determine how much you put away. Then, throughout the year, the money is taken from your check, just like insurance or taxes. You submit receipts for co-pays, prescriptions, Advil, thermometers, IVF, glasses, contacts, crutches… seriously, the list goes on an on. And you get reimbursed. It’s a really simple, tax-free way to save for unexpected medical expenses.

At the beginning of the year we had only committed about $1,300- not knowing that all this baby stuff lie in front of us. So next year, as mentioned, we plan on maxing out the plan. My FSA just became eligible Sept 1 and so the full $2,000 is available to us now.

We’re still so far from our goal. And everyday we cut a new corner and find something else that just isn’t necessary. But we’re also so hopeful and everyday gain so much more support from family, friends and the like. We know we’ll make it.

**Obviously, I’m not your tax advisor, so please just take this as a friendly suggestion. It might not be the best decision for all of you. Also, I’m just repeating my understanding so take that for what it’s worth and do your own investigation before you sign the dotted line.