Options for Financing Egg Donation

Eran Amir

CEO and Founder of GoStork

Have you decided to consider egg donation? Aside from browsing our free database of over 10,000 egg donors, one of your next steps is to look at the costs involved, as well as your financing options. Here’s an overview to help you start your journey. 

How much does egg donation cost?

Like other fertility treatments, egg donation requires a substantial investment but there are ways to make it work! The cost of fresh donor eggs range fairly widely; anywhere from $19,000 to over $60,000.

This includes the egg donor agency’s compensation, the egg donor’s fee, the donor’s screening costs, legal fees, complication insurance, an escrow account service fee, and contingencies, but excludes IVF clinic-related expenses. 

There’s a reason for the very wide range in costs. For example, egg donor compensation varies according to the egg donor’s education, experience with prior cycles, and ethnicity. Donors with proven fertility generally cost more as do donors with a higher level of education. On the other hand – there are ways to save money – if you choose a donor close to you and your IVF clinic, you should be able to pay less on her travel costs.

In this article, we’ll go over the options available for financing egg donation, from loans, grants, and company fertility benefits, to more creative options, such as fundraisers. We’ll also go into why you should consult your insurance provider and check for tax deductibles.

Loans that can be used for egg donation

Banks provide a number of financing options that can be utilized for egg donation:

  • Secured Loans – tied to collateral, such as your home or retirement savings. Because of this, it has lower interest rates but you must ensure you’re timely with the repayments to avoid losing what you tied to it.
  • Unsecured Loans – if you have excellent credit, a good salary and a low debt-to-income ratio, this type of loan is a viable option
  • Home Equity Loans – using your home as collateral
  • 401(k) Loans – you can use your retirement funds by borrowing up to 50% of the account balance and repay it within the stipulated time
  • Credit Cards – due to high interest rates, this option should only be utilized as a last resort or for minor payments
  • Family Members – they may have been with you on the journey from day one, so it may make sense for you to ask for a personal loan (only if you’re comfortable, of course – this is a very personal decision). Chances are they’ll offer you better terms than a financial institution would, saving you money along the way.

It should be noted that this is only a brief overview of the different lending options available for intended parents pursuing egg donation. You should consult your bank and accountant to better understand your options as they pertain to your specific situation. 

Fertility Financing Loans

There are companies who offer fertility-specific financing loans, such as:

*Note: as mentioned above, GoStork enables intended parents to apply for fertility loans, potentially providing you with an affordable way to break your big expenses into simple monthly payments. Applying for a loan this way is quick and easy – just answer a few questions and within minutes you’ll find out if you prequalify. If you do prequalify for one or more loan options from the participating lenders and you see a loan you’re interested in moving forwards with, you simply finish the application and if the lender approves, your funds are deposited into your account. This may take a few days, though in some cases, funds are deposited into your account on the same day you apply for the loan! 

Company fertility benefits

Companies in competitive industries often offer at least some support in as far as fertility benefits to their staff in a bid to recruit and retain talent, especially among female and LGBTQ+ employees. Some of these benefits are also available for egg donation. Fertility packages are becoming more popular, with 31% of US employers with 500 employees or more offering such benefits in 2018 when compared to 24% in 2016. While your employer will not cover the whole cost of your journey, fertility benefits can get you off to a good start. 

If you haven’t already, look into your benefits or speak with your Human Resources / Benefits contact about options available to you. It doesn’t hurt to encourage your employer to consider adding fertility treatment coverage if they’re still not offering it – fertility benefits are becoming more commonly expected by employees, regardless of industry.

Fertility Grants

There are multiple grant programs which you can apply for to assist you along the way. While they can be more difficult to obtain than loans; if you are accepted, grants can help you cover some expenses without having to worry about repayments.

Different grants are aimed at different people or family building scenarios and cover different portions of the overall process, so it’s best to research which criteria best meet your specific case and apply accordingly. Some grant examples are: 

*Note – we’ve featured the wonderful women behind Baby Quest Foundation, the Samantha and Kyle Busch Bundle of Joy Fund, Fertility For Colored Girls and Everlasting Hope in our blog! Get to know their personal stories and mission there if you’re interested.

In-house financing

Some egg donor agencies offer in-house financing in the form of loans with partner companies or allow payments in monthly installments. These  usually come at lower interest rates when compared to other commercial options and are  great if you’d like to manage every element of your journey in one place. GoStork lists if the agency offers financing options, even allowing you to sort agencies by this feature.

Fundraising

A more creative option, fundraising can take many forms. Online fundraising campaigns can help you get the word out among your family and friends. It can admittedly feel strange to be asking for money, but it’s for a great cause and you’re also giving them a chance to get involved in and excited about your journey. Maybe just tell them not to get you birthday gifts for at least a few years!

A garage sale, selling handmade or unwanted items online or a (safely socially-distanced) fundraising BBQ, can get you extra cash to add to the egg donation pot. 

Is egg donation covered by insurance?

Insurance policies on egg donation coverage vary greatly from one provider to another, so there’s no straightforward answer as to what’s covered and what isn’t. That said, insurance doesn’t usually cover donor eggs, although the IVF cycle may be covered if your plan has IVF coverage. It pays to get smart with your insurance and ask which costs they will cover. The ideal way forward is to review your policy with a specialist to find out which costs you’ll have to meet out-of-pocket.

Savings

It’s never too early to start saving. Set up a dedicated savings account – soon enough, the numbers will start adding up. With outings curbed, commuting cut, and less money spent on eating out, the (very faint) silver lining of Covid-19 is that it’s given us more saving opportunities. 

We also suggest you read our article Egg Donation Costs: An Overview to get insight into the actual cost of egg donation – broken down into each component – to help you plan better.

Tax

There are many questions when it comes to tax laws – given these ambiguities and possibilities, it’s best to consult with your accountant and tax professional to go over your specific case.

Generally, the use of an egg donor can still be regarded as “medical care” for tax purposes when this is done to treat infertility. This includes other costs related to the process, such as legal fees.

In Conclusion…

With the right preparations and some assistance along the way, you, too, can survive the financial commitment egg donation entails. Go through your options, apply for funding, save wisely and, more importantly, stay positive! 

GoStork is the only online platform that allows you to find, compare, and connect with your ideal egg donor at no additional cost to you – while also allowing you to apply for fertility loans to help finance your journey. We have over 10,000 egg donors on our platform – the largest free online egg donor database! We offer a one-of-a-kind comparison tool that helps intended parents compare egg donors side-by-side and point-by-point for various criteria, including fully transparent cost breakdowns so that you’ll know exactly what you’ll need to budget for. Find your ideal egg donor, here.