Home » today » Health » Miller-Meeks introduces refundable tax credit for IVF

Miller-Meeks introduces refundable tax credit for IVF

U.S. Rep. Mariannette Miller-Meeks, R-Iowa, on Monday introduced a bill to promote access to IVF through a fully refundable tax credit of up to $30,000. The bill would provide financial relief to individuals and couples undergoing IVF treatments, according to a news release.

In key districts, such as Iowa’s 1st Congressional District represented by Miller-Meeks, IVF and reproductive health care remain a campaign issue. Miller-Meeks co-sponsored the 2021-22 Life at Conception Act, which states that life begins at fertilization and bans all abortions nationwide.

Democrats like Miller-Meeks’s rival, Christina Bohannan, are concerned that abortion bans could affect the viability of in vitro fertilization and other fertility treatments. Even states that have passed life at conception bills, including Alabama, have struggled with the ban.legal effects of invoices on the ability to provide in vitro fertilization services.

The tax credit I count covers a variety of costs related to IVF, including transportation to and from services, egg retrieval and transfer, counseling, lab fees, medications, and ultrasounds.

According to Monday’s press release, the bill is a “proactive step to encourage family growth” as birth rates in the United States are declining.

According to a report by CDC National Center for Health StatisticsThe overall U.S. fertility rate (the average number of children born to a person over their lifetime) fell to a record low in 2023, dropping three percent from 2022 and marking the second consecutive year of decline.

one additional relationship The center revealed that the number of births in the United States decreased by two percent between 2022 and 2023.

Coverage of fertility benefits is growing, especially among larger employers, according to Mercer National Survey of Employer-Sponsored Health Plans.

In 2020, 42 percent of employers with 20,000 or more employees covered IVF, according to Mercer’s most recent report. Alternatively, 27 percent of employers with 500 or more employees offered IVF coverage in the same year.

RELATED: Iowa abortion providers face near-total abortion ban

A significant portion of the workforce, particularly those employed by small businesses, are still not eligible for IVF coverage.

The Internal Revenue Service allows a limited medical expense deduction for expenses related to IVF treatments. The IRS allows deductions only if your total qualified medical expenses exceed 7.5 percent of your adjusted gross income. The average cost of an IVF treatment ranges from $15,000 to $30,000, depending on the IRS. Forbes Health.

The bill represents a commitment to supporting the lives and choices of families, Miller-Meeks said in the statement.

“Every life is precious and we have a moral imperative to support those who want to become parents,” Miller-Meeks said. “By providing financial assistance through this refundable tax credit, we are not only making IVF more accessible, but we are also empowering individuals and families to achieve their dreams of parenthood.”

U.S. Rep. Mike Lawler, R-N.Y., and U.S. Rep. Lori Chavez-DeRemer, R-Ore., co-sponsored the bill.

“Every year, thousands of children are born in the United States through in vitro fertilization,” Chavez-DeRemer said in the statement. “Unfortunately, this is a very expensive procedure that is often not covered by insurance, making it out of reach for many couples seeking to have children.

Chavez-DeRemer said the legislation will make IVF medical costs more affordable and help more Americans experience “one of life’s greatest gifts and joys.”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.