Freezing Your Eggs: What It Costs And How To Plan

Freezing your eggs

The decision to freeze your eggs comes with much thought and consideration for your future plans. One part of this major life decision is determining how to fund this endeavor. Let’s take a closer look at the cost of freezing your eggs and how to save for this hefty purchase.

Why do women freeze their eggs?

The decision to freeze their eggs has grown in popularity in recent years. According to the Society for Assisted Reproductive Technology, only 475 chose to freeze their eggs in 2009. But just nine years later, in 2018, 13,275 women chose this option.

So why do women freeze their eggs? Of course, this highly personal decision comes with many difficult reasons. But the end result of freezing an egg is that it provides an extended option to possibly get pregnant later in life.

With that in mind, women who choose this path may want kids later but not right now. The choice allows for more breathing room to find the right partner.

Beyond finding the right partner, it allows for a different focus in their current phase of life. For example, a woman may choose to freeze her eggs to focus on her career at a pivotal moment without risking her dreams of having children.

Other reasons may include a desire you preserve younger eggs to use in the future to boost your chances of getting pregnant later. Or choosing to freeze your eggs while undergoing treatment for an illness such as cancer to prevent negative consequences for your fertility.

What are the options for freezing your eggs?

If a woman chooses to freeze her eggs, the process involves several steps. The first step is to take synthetic hormones which are intended to stimulate your ovaries. The goal of these hormones is to encourage the production of multiple eggs instead of a single egg in one month.

Throughout this treatment process, you’ll have regular visits with your doctor to monitor your progress through blood tests and ultrasounds. When the doctor determines you are ready, it will be time to begin the egg retrieval process. Your eggs will be retrieved through a procedure at your doctor’s office.

Once the eggs are retrieved, it is time to freeze the unfertilized eggs via a vitrification process.  From that point, your eggs will be frozen indefinitely. You will walk away from the process with a distinct possibility of becoming a genetic parent.

However, it is possible that an unfertilized frozen egg will not result in a pregnancy. As you can see, the process is very involved. It is important to decide if you are physically up for the challenge. Plus, weigh the emotional risks because a frozen unfertilized egg does not guarantee a successful pregnancy.

Now that you know your options let's get into how much to freeze your eggs.

How much does it cost to freeze eggs?

Now that you know a bit more about the process, it is time to consider the financial costs. Freezing eggs costs can add up quickly. So, exactly how much does it cost to freeze eggs?

According to Fertility IQ, the average patient will spend $30,000 to $40,000. Importantly, there are multiple costs to consider when freezing your eggs. I’ve broken down the estimated costs into three distinct segments.

1. Cost of freezing your eggs

First, the most obvious cost of freezing your eggs is the actual procedure. Within this cost, you may encounter bills from the fertility clinic and pharmacy costs for the medication. Additionally, you may choose to undergo the procedure several times to increase your chances of a successful live birth in the future.

In general, you should expect to pay approximately $11,000 for the actual procedure of retrieving your eggs. Plus, the medications leading up to the procedure will likely cost around $5,000.

Although the average cost for a single egg-freezing cycle is $15,991, the costs can vary based on the area. For example, you may pay closer to $17,550 in New Jersey but only $13,800 in Boston.

Since many patients may undergo the process more than once, you may be spending closer to $30,000 on the egg retrieval process.

2. Storage costs

Once they obtain the eggs, proper storage is critical. You can expect to spend around $2,000 for the first five years of storage. If you want to continue storing the egg, you will need to continue paying for its security which typically amounts to around $500 per year. This is not a cost that can be skipped as appropriate storage is necessary.

3. Frozen egg IVF

When you decide that it is time to bring your eggs out to storage to create a possible pregnancy, there will be another round of costs. The procedure to transfer your frozen embryo will likely cost between $3,000 to $5,000. That’s another cost to consider in your budget as you prepare to move forward.

So, how much to freeze your eggs? Well as you see it has many factors and involved processes. However, you can break these costs down by each stage and build them into your budget.

Does insurance cover the cost of freezing your eggs?

Unfortunately many insurance companies today do not cover the full cost of freezing your eggs. This is because freezing your eggs is not typically deemed medically necessary. However, there are portions of the process that your health insurance provider may cover.

For instance, things like a fertility specialist consultation, diagnostic testing, or embryo storage may be covered. There are also specific medical situations that may allow for your egg freezing costs to be covered by insurance.

Today, many companies are now offering egg freezing as a benefit or additional insurance option. Be sure to take time to do your research and explore all available options.

How to save for freezing your eggs

So, now you know exactly what freezing eggs costs. If you’ve made the choice to pursue freezing your eggs, it is important to create a financial plan to cover this major expense.

Here are some strategies to help you save:

1. Make it a priority in your budget

Savings for a big purchase of any kind requires a budget that works for you. Take stock of what you are currently spending. Look for ways that you can cut back to set aside funds for this major life decision.

Although it may not be easy to make cuts to your budget in other areas, it may be worth the sacrifice. Want help creating a budget that works for you? I highly recommend taking our free budgeting course.

2. Set up a sinking fund

A sinking fund is a great way to set aside funds for any major purchase. Consider creating a sinking fund for the expenses associated with freezing your eggs.

Essentially, you can build a sinking fund by setting aside money each month. The goal is to save a little bit every month to cover this major future purchase. The expenses associated with this procedure present the perfect opportunity to use a sinking fund.

3. Try a side hustle

The challenge of saving for a major expense is that you still have to cover your other expenses. That’s when a side hustle can really come in handy. Consider tackling a side hustle to help you temporarily increase your income and stash that cash.

Luckily, there is no shortage of side hustle opportunities. Need help starting your new side hustle? You can learn more about your side hustle options in our founder’s latest book - Side Hustle Guide for Women.

Make a financial plan if freezing your eggs is best for you

Freezing your eggs can open the door to potential future pregnancies. The possibilities are exciting. But the prospect of paying for this procedure can be a challenge.

Take some time to build a financial plan to help you tackle this major decision. This way you aren't going into debt to achieve your dream of having a baby later on in life.

Start creating your financial plan and goals with our completely free courses and worksheets! Also, don't forget to follow Clever Girl Finance on Instagram, Facebook, and YouTube for top financial tips and motivation to reach your money goals!

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