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The MPs fear that ministers are considering asking women to pay prescription charges for the pills, which have been available free since 1974.
The British Medical Association has said it would be opposed to any charges, which it says could lead to more unplanned pregnancies.
The Department of Health has insisted there are no specific proposals to make people pay for the contraceptives.
But health ministers also say that nothing has been ruled out in a comprehensive review of NHS charges.
It is estimated that one in four sexually active women use the Pill. Charging those women could save the NHS £50m of its £4bn drug bill.
The controversy - already dubbed a "tax on fertility" - comes on the heels of a recent Labour revolt over benefit cuts to single mothers and fears that disability benefits may come under review.
Ann Furedi, director of the Birth Control Trust, which supports free contraception, said it was society's responsibility to prevent unwanted pregnancies.
"When a woman goes on the Pill, it is for her and her partner. Society as a whole has an interest in preventing unwanted pregnancies and society should pay the price by providing free contraceptive services."
MP Alice Mahon said women should be encouraged to plan their families and make responsible decisions.
"A decision like this would look as if instead of doing more to increase choice _ we are going in the opposite direction. I think it is very unfortunate."
Briefing - Lone parent benefits
(10 Dec 97 | Special Report)
Labour faces benefits backlash
(07 Dec 97 | UK)
Department of Health
Birth Control Trust
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