How to Pay for Egg Freezing

Egg freezing (oocyte cryopreservation) is becoming a popular medical procedure for women, but the biggest barrier is the high cost. We surveyed over 750 women about egg freezing, and 67% of them said cost was their main barrier.

That’s why we started Cofertility, and our Split program where eligible women can freeze their eggs *for free* when donating half of them to a family that can’t otherwise conceive. But we know that egg donation isn’t for everyone, which is why we also support women who want to freeze and keep their eggs. For these women, there are ways to make egg freezing more affordable. In this guide, we'll discuss some of the most common ways to pay for egg freezing.

First off, how much does it cost to freeze your eggs?

This is always a difficult question to answer, because it depends! It depends on the clinic you’re going to, where you are located, the medications you are prescribed (it differs based on your age and body), and where/how long you store the eggs. Average egg freezing cycle costs range from $10,000 - $20,000, plus annual storage. 

How can I pay for egg freezing?

If you want to freeze your eggs and research all your options for paying for it, here are the main buckets of options.

Health insurance

Unfortunately, very few insurance plans today cover the cost of egg freezing, unless it is medically necessary. For example, if you have a medical condition that may impact your fertility, such as cancer, your insurance may cover the cost of egg freezing as part of your cancer treatment. Check with your insurance provider to see if they cover egg freezing and what the requirements are.

Flexible spending account (FSA) or health savings account (HSA)

If your insurance doesn't cover egg freezing, you can use pre-tax dollars from your FSA or HSA to pay for the procedure and medications. These accounts allow you to set aside a certain amount of money each year to pay for eligible medical expenses, including egg freezing.

Donate half your eggs

At Cofertility, our Freeze by Co Split program allows you to freeze and store your eggs *entirely for free* for 10 years, when you give half to a family who can't otherwise conceive.

Financing

There are a growing number of financing options, such as loans or payment plans, to help patients pay for egg freezing. These options allow you to spread the cost of the procedure over several months, making it more manageable. 

Top egg freezing financing companies

If you’ve decided you want to go the loan route, you have many options to choose from. There are general lending companies as well as companies that specialize in loans just for fertility treatments. 

Sunfish

Sunfish makes egg freezing (and fertility treatment in general) attainable for all types of families. If you're interested in egg freezing, Sunfish can help you explore low-interest loans and financial planning tools, including low-interest loans or lines of credit of up to $100,000, with terms ranging from two to 15 years.

Ally

Ally offers fertility financing solutions to cover the cost of egg freezing at select partner clinics. Fill out a form to see your lending options and choose from 24-84-month loan options with annual percentage rates (APRs) starting at 3.99%.

FutureFamily

FutureFamily offers egg freezing loans, and they handle paying all your bills so you have just one easy payment. Starts at $150/month* for 60 months based on your clinic, credit score, and approved egg freezing related expenses. While you can apply individually, the rates are better (0% APR) if you are freezing with one of their partner clinics.

Lending Club 

Lending Club offers egg freezing loans that cover genetic testing, medications, and the medical procedure at select partner clinics. They forward payment directly to the providers within three business days. Monthly payments are as low as $263/month to finance $15,000 with a 7.99% APR for 72 months.

What to know about taking out a loan

When taking out a loan, you’ll want to understand the terms and conditions of the loan, as well as the responsibilities that come with borrowing a large sum of money. A lot of the websites listed above will have online calculators to help you get a sense for the terms and fees you can expect. 

Loan amount: Consider how much you want to finance and whether they finance that amount. You could finance part, or all, of the egg freezing expenses. 

Loan terms: Loan terms are the length of time you have to repay the loan, and they can range from a few months to several years. Shorter loan terms generally result in higher monthly payments, while longer loan terms result in lower monthly payments but a higher total cost over the life of the loan.

Interest rates: Interest rates are the fees charged by the lender for borrowing money, and they can have a significant impact on the total cost of the loan. Find out the current interest rate being charged, and if that interest rate will stay the same or change over time. 

Loan fees: Of course, these lending groups need to make money, and they do this through loan fees. Loan fees are the additional charges associated with taking out a loan, including origination fees, application fees, late-payment fees, or prepayment penalties. You can use the annual percentage rate (APR) to compare average yearly fee and interest-rate expenses over the term of the loan. It's important to carefully review all loan fees and to make sure you understand the total cost of the loan.

Repayment options: Repayment options are the ways in which you can pay back the loan, including monthly payments, lump sum payments, or a combination of both.

Loan security: Loan security is the collateral that you provide to the lender to secure the loan, such as a home or a car. If you fail to repay the loan, the lender may take possession of the collateral. If you're taking out a secured loan, it's important to carefully consider the risks and responsibilities associated with putting up collateral.

Finally, if you’re quoted a monthly payment, remember to look beyond the monthly payment.  Think about how long you will pay, and what fees and costs have been added. 

Other ways to pay for egg freezing

Credit cards

Of course, if you have a high limit on your credit card, you could always put the cost of the procedure and medications on your credit card, as long as you feel comfortable paying this off. Think of all those points! However, keep in mind that credit cards typically have higher interest rates than personal loans.

Savings

Maybe you’re a high earner and had scholarships to cover college tuition. Or perhaps a family member left you money. If you have the cash in your savings, you can certainly put it towards egg freezing. 

Crowdfunding

Using crowdfunding to pay for medical expenses is an increasingly popular option (thanks US healthcare system!). Crowdfunding is when you ask your friends, family, followers, and even strangers to chip in to pay for your medical expenses – usually through an app like GoFundMe. 

Keep in mind that there is no guarantee of success with a crowdfunding campaign, and you may not be able to raise enough money to cover the cost of egg freezing. 

Employee benefits

Some employers offer coverage for egg freezing as a benefit to their employees. Check with your handbook or HR department to see if this is an option for you.

Summing it up

If you want to freeze your eggs, know that you have financing options. Research and compare your options to find the best one for your needs. By taking the time to understand your options, you can take the first step towards preserving your fertility and achieving your family-building goals.

To see if you're eligible for our Split program, take our quiz to tell us more about yourself.