The Family Act of 2011, S 965/HR 3522 (See the bill here) is a bill pending in the U.S. Senate and U.S. House of Representatives that would create a modest tax credit for the out-of-pocket costs incurred for the medical treatment of infertility. The bill is designed to help thousands of couples nationwide bear the cost of medical treatment for infertility, specifically IVF. The financial burden of an infertility diagnosis is significant, and any means to help offset these costs is a positive development for women and men who face IVF treatment.
For many years, families have been created with the help of the Adoption Tax Credit, and we hope this new tax credit will achieve the same level
of success for those trying to cover the costs of medical treatments. The Family Act of 2011 has actually been modeled after the Adoption Tax
Key provisions of the House and Senate bill:
- The Family Act covers the out-of-pocket costs associated with in vitro fertilization (IVF) including diagnostic tests, laboratory charges, professional charges, and medications for IVF.
- The Family Act covers the out-of-pocket costs of fertility preservation procedures if the man or woman is diagnosed with cancer and the cancer treatment or disease itself may result in infertility.
- The Family Act has a cost sharing provision allowing 50% of all applicable medical expenses to be covered up to a lifetime maximum of $13,360. You would need to have out-of-pocket costs totaling $26,720 to claim the entire credit in your lifetime.
- If you do not owe taxes in a particular year, do not owe enough taxes to use the whole credit, or do not reach the max amount in one tax year, it carries over to the next year for a max of five years after the first year you use the credit.
- The Family Act is available to couples filing jointly with adjusted gross incomes of less than $222,520, but the credit is smaller for those earning between $182,500 and $222,520.
RESOLVE’s President/CEO, Barb Collura is trying to raise awareness for more people to get involved. “We are pushing very hard right now to have the bill voted on during the Lame Duck session (after election day and before 12/31/12). The bill will not have a separate floor vote but will be attached to a larger bill. There are many issues Congress has to deal with during the Lame Duck session and our supporters will be looking for a bill that will pass to attach the Family Act to it.
“Right now we need EVERYONE in the country who cares about increasing access to IVF to write and call their Senators and Member of the House
and urge them to co-sponsor the Family Act. Now is the time! If everyone can do this between now and the end of November, it will make a HUGE difference. Thanks!”
To take action right now to promote The Family Act, please go to this link, where you can click to send a letter to your Senators and Representative. Share the link with clients and colleagues, too: