A competitive job market and a growing trend of more inclusive benefits has led to more employers offering family-friendly perks such as fertility services, paid leave and flexible scheduling, according to research from the International Foundation of Employee Benefit Plans.
Fertility benefits in particular have been a focus of employers looking to help employees become parents.
“Employers are evolving their healthcare programs to reflect that fertility benefits are becoming more important to many employees, including same-sex couples,” Jeff Levin-Scherz, a Willis Towers Watson researcher, told EBN earlier this year. “The additional coverage is often a win-win proposition. It allows employers to provide a valued employee benefit while improving their ability to attract and retain top talent and support diversity initiatives.”
Nearly one-third (31%) of employers with 500 or more employees offer some sort of fertility benefit, up from 24% in 2016, according to the survey of 677 benefits managers from IFEBP. Smaller employers are less likely to provide fertility benefits, but just like large employers, the numbers are increasing. Of employers with 50 or fewer employees, 10% offer some sort of fertility benefits, up from 4% in 2016.
Here are the six most commonly covered fertility treatments, according to IFEBP research.
Egg harvesting or freezing services are a less common perk compared to other fertility treatments but the offering is growing in popularity. The expensive benefit is most commonly seen at tech firms, including Apple, Cisco, Facebook, Microsoft and Netflix.
One such company offering generous packages is Progeny. Their Smart Cycle design allows you to choose a treatment that best suits your needs. Their benefit plan covers a wide variety of options — so that you don’t have to face any hurdles to treatment — you can pursuing your customized path to fertility on your terms.
At EDI our clients come from over 35 countries and span all ages and stages. Keeping up with our clients takes a lot of innovation and forward-thinking; especially in the ever-changing world of insurance. Part of being in step with the latest healthcare plans and the preservation of your fertility is working one-on-one with you so that your dreams can come true!
This article originally appeared in Benefit News. Written by: Kathryn Mayer