capital one healthcare finance

ivfbound · 10-11-2007, 06:45 AM

I know that my IVF costs are tax deductible, however what if I am paying for them out of a capital one healthcare finance loan that is a 5 year installment loan. Do I take the entire amount as medical expense in that first year I took the loan out, or do I spread out the deduction over the life of the loan?

Anyone know? Any help is greatly appreciated!

cmurt · 10-12-2007, 05:18 AM

I am not sure! Maybe try asking the financial counselor in your docs office.? Those ladies are usually so great at their jobs I am sure they would know what to tell you.

Good luck!

joeyIVF2008 · 10-12-2007, 11:42 AM

I just wanted to say that I am new to this and we also were approved for a Capital One Healthcare finance loan. What I was surprised about is that our RE wont allow us to do a shared risk program with this financing because Capital One charges them such a high fee.

Anyone else have this problem? This means that the $15k we were approved for will only get us one cycle of IVF with ICSI.

hopefulmom2B · 11-04-2007, 08:20 AM

I am currently in the final stage of my first IVF treatment. We just had retrieval on Thursday, and we're expecting a transfer this Tuesday or Wednesday. I have the Capital One loan, and I have been very disapointed to find that the amount that we were financed was also part of a package with ARC (Assisted Reproductive Care). They told me they have a set discout package price with my RE, this was $8,800, plus ICSI $1700, plus their pharm plan(which was good, they sent all meds to me ups next day) - $3,000 plus my husband's extraction with Urologist $1,000. I figured that would be enough right?

WRONG.

There have been so many additional ridiculous fees. Like it only covers 6 E/2 's, 5 U/S for follicular development, and one pregnancy test. Additionally, on the package, it mentioned having anaesthesia covered, but my RE had to charge me for the meds...what's up with that? If you get a package, it should include everything, right???

Anyway, be aware that we have already spent $2,500 in extra fees with another $800 to go...

joeyIVF2008 · 11-04-2007, 05:36 PM

So you are saying you have a package available with Capital One financing. You have way more than we do. We have to pay for everything a la carte if we use the financing. Is that legal?

We are going to try IUI first before we go to IVF, but the insurance also doesn't cover IUI...only IVF.

Joey

hopefulmom2B · 11-06-2007, 01:23 PM

Wow! Your IVF is covered, that is great...considering the expense, that is a nice benefit to have.

The package that I have is through ARC that is pre-arranged with my RE. You may want to try ARC's website if you prefer the package price. But then, does your RE have its own pakage, maybe? Some provide their own packages that include certain numbers of cycles, etc...

Good luck with the IUI. My best friend is going through that now.

10-11-2007, 06:45 AM	#1 (permalink)
ivfbound Registered User Join Date: Oct 2007 Posts: 3	capital one healthcare finance I know that my IVF costs are tax deductible, however what if I am paying for them out of a capital one healthcare finance loan that is a 5 year installment loan. Do I take the entire amount as medical expense in that first year I took the loan out, or do I spread out the deduction over the life of the loan? Anyone know? Any help is greatly appreciated! Last edited by ivfbound; 10-11-2007 at 07:17 AM.

10-12-2007, 05:18 AM	#2 (permalink)
cmurt 1000-4999 post queen of hearts Join Date: Jan 2006 Location: Colorado Posts: 1,311	I am not sure! Maybe try asking the financial counselor in your docs office.? Those ladies are usually so great at their jobs I am sure they would know what to tell you. Good luck! __________________ Me:31 DH:48 DD 11/27/06 Twins Ethan and Elizabeth now 6 months old!!

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10-12-2007, 11:42 AM	#3 (permalink)
joeyIVF2008 Registered User Join Date: Oct 2007 Location: California Posts: 3	I just wanted to say that I am new to this and we also were approved for a Capital One Healthcare finance loan. What I was surprised about is that our RE wont allow us to do a shared risk program with this financing because Capital One charges them such a high fee. Anyone else have this problem? This means that the $15k we were approved for will only get us one cycle of IVF with ICSI.

11-04-2007, 08:20 AM	#4 (permalink)
hopefulmom2B Registered User Join Date: Oct 2007 Location: Palmetto Bay, FL Posts: 3	I am currently in the final stage of my first IVF treatment. We just had retrieval on Thursday, and we're expecting a transfer this Tuesday or Wednesday. I have the Capital One loan, and I have been very disapointed to find that the amount that we were financed was also part of a package with ARC (Assisted Reproductive Care). They told me they have a set discout package price with my RE, this was $8,800, plus ICSI $1700, plus their pharm plan(which was good, they sent all meds to me ups next day) - $3,000 plus my husband's extraction with Urologist $1,000. I figured that would be enough right? WRONG. There have been so many additional ridiculous fees. Like it only covers 6 E/2 's, 5 U/S for follicular development, and one pregnancy test. Additionally, on the package, it mentioned having anaesthesia covered, but my RE had to charge me for the meds...what's up with that? If you get a package, it should include everything, right??? Anyway, be aware that we have already spent $2,500 in extra fees with another $800 to go...

11-04-2007, 05:36 PM	#5 (permalink)
joeyIVF2008 Registered User Join Date: Oct 2007 Location: California Posts: 3	So you are saying you have a package available with Capital One financing. You have way more than we do. We have to pay for everything a la carte if we use the financing. Is that legal? We are going to try IUI first before we go to IVF, but the insurance also doesn't cover IUI...only IVF. Joey

11-06-2007, 01:23 PM	#6 (permalink)
hopefulmom2B Registered User Join Date: Oct 2007 Location: Palmetto Bay, FL Posts: 3	Wow! Your IVF is covered, that is great...considering the expense, that is a nice benefit to have. The package that I have is through ARC that is pre-arranged with my RE. You may want to try ARC's website if you prefer the package price. But then, does your RE have its own pakage, maybe? Some provide their own packages that include certain numbers of cycles, etc... Good luck with the IUI. My best friend is going through that now.