Funding for IVF
IVF is expensive. Many clients turn to their super to pay for IVF, however there is a process to meet the requirements for the release of super for IVF. The success rates of IVF continue to improve as the technology of this procedure improves. If you have turned to IVF to have a baby you will know the costs are significant. The costs need to paid upfront to the specialists and not all have the funds to move forward. However, for those who have super, either partner can access money from their super to pay for IVF. The funds are released from a combination of both partner’s superannuation funds, or alternatively from either partner’s funds.
Applications for the release of super for IVF treatment come under mental health. It is the policy (from 30/9/2021) of the ATO that ALL applications submitted under Mental Health must be signed off by a psychiatrist.
How can I see a psychiatrist?
It can be difficult to facilitate an appointment with a psychiatrist, especially if you don’t have an existing relationship with a psychiatrist. Under the provisions of the release of super there is no capacity for applications to be approved after the 30/9/2021 unless you have a consultation with a psychiatrist. Release My Super works with the client to facilitate this part of the process.
Each application must have new quotes, however, the original GP and Psychiatric report has a validity of 6 months.
Improvements in IVF
IVF has come a long way since the early days and the technology just keeps getting better. Today, most of us personally know a child conceived through IVF. The process of IVF can be stressful, which is why having someone to assist with the application for the release of funds to pay for the treatment is more than reassuring.
Release My Super assists clients to release money early from superannuation to pay for mental health treatments.
Want to read more about the Release of Funds for IVF?
The ATO website has extensive information around the early release of superannuation scheme. Follow this link for more information.