AOC says she's been saving up to freeze her eggs. Here's how much the procedure can cost
AOC is highlighting the cost of freezing her eggs. Here's what to know about health insurance coverage, state laws and taxes associated with the process.
US Representative Alexandria Ocasio-Cortez recently revealed that she's been saving up to freeze her eggs, sparking a conversation about the costs associated with the procedure. The cost of egg freezing can range from $15,000 to $20,000 per cycle, with additional expenses for medications and annual storage fees. This significant outlay may be out of reach for many individuals, highlighting the need for financial planning and potential insurance coverage.
The cost of egg freezing is not typically covered by health insurance, as it's considered an elective procedure. However, some states have enacted laws requiring insurance coverage for fertility treatments, including egg freezing. For example, New York, where AOC represents, has a law mandating insurance coverage for fertility treatments, including egg freezing. Brokers should be aware of the varying state laws and regulations when advising clients on fertility benefits.
As a broker, it's essential to understand the nuances of fertility benefits and how they intersect with health insurance coverage, state laws, and taxes. Clients may be interested in exploring flexible spending accounts (FSAs) or health savings accounts (HSAs) to save for fertility treatments, including egg freezing. To watch next: expect more discussion on fertility benefits and insurance coverage as the conversation around reproductive health and financial planning continues to evolve.
Originally reported by cnbc.com. BrokerNews adds analysis for finance & markets readers.