72% of people say they would stay longer with their current employer if they had fertility benefits.
At first, employees wanted discounts on gym memberships, better health insurance, and expert dental care. But as the needs of employees expanded, so did the company's perks and benefits.
Now, employees want fertility benefits. They want fertility treatment support, financial aid, and new parent-friendly policies, such as extended paid maternity and paternity leave.
Back in 2014, Apple and Facebook were among the first to offer employer-sponsored egg freezing as a wider benefits package. Over time, employee needs have expanded—perhaps amplified by the pandemic—and now, fertility benefits have become a must for many employees.
According to the World Health Organization (WHO), 17.5% of the worldwide adult population—roughly 1 in 6 adults—experience infertility. Yet the cost for popular fertilization options such as IVF on average in the U.S. costs $45,000. My journey, in California was nearly double that and I only had retrievals, not implantation! There’s also a lack of financial support for adoption and foster care. But we’ll get to that shortly.
In this blog post, we explain fertility benefits, provide example benefits companies currently offer, and highlight why you should add fertility benefits to your employee benefits package.
To be clear, FitPros does not offer fertility benefits but we believe that offering your employees holistic and customized wellbeing benefits is critical. In addition, I have a personal fertility journey thus I’ve experienced the emotional toll it takes on your employees.
What are fertility benefits?
Fertility benefits for employees provide coverage and other support for fertility treatment and services. Benefits vary massively but can include increased awareness and prevention, infertility diagnosis, treatment options covered by the employer (e.g., egg or sperm freezing, IVF, and adoption assistance), and access to counseling services.
A common misconception is that fertility benefits exclusively include IVF and other fertility treatments. But this is not true! A comprehensive benefits plan should include support for adoption, egg and sperm freezing, and further future planning counseling and advice.
What companies offer fertility benefits?
Family planning and fertility benefits look different from company to company. Some provide more financial support, while others, often larger companies, work with a fertility service provider to offer various treatment options.
Large companies that offer fertility benefits include:
Spotify: Unlimited fertility benefits and paid maternity and paternity leave.
Stripe: Reimbursement of up to 80% of fertility costs up to $10,000 a year (or $20,000 overall)
Meta: Provide access to elite fertility clinics, the best reproductive endocrinologists, and other fertility professionals.
Hubspot: Voluntary egg freezing for women over the age of 32.
Lululemon: Numerous fertility benefits, including early detection of prostate and testicular cancer to endometriosis and PCOS support.
Smaller companies are also beginning to offer a mix of family planning and fertility benefits. Although, you can typically—but not necessarily always—expect less financial coverage/overall access to fertility providers.
The International Foundation of Employee Benefit Plans found that 40% of U.S. organizations now offer fertility benefits, which is up by 10% from 2020, where only 30% of employers provided fertility benefit support. With the number of employers providing fertility benefits increasing yearly, it’s important to begin offering these services if you don’t already. Don’t fall behind!
What are the advantages of fertility benefits for employers?
So the big question: why should you invest in fertility benefits for your employees?
Show employees you care about their wellbeing
Relieve financial stress
Become a more inclusive and diverse workplace
Retain and attract top talent
We’ll break these fertility benefits down in more detail below:
Show employees you care about their wellbeing
Saying you prioritize employee wellness is one thing—but doing so is another. If you want to show your employees that you care about their wellbeing, fertility benefits should be a part of your wellness plan.
Your employees are actively seeking these benefits, and new hires are explicitly searching for companies providing fertility benefit support.
Relieve financial stress
The U.S. average cost of IVF is between $10,000 and $15,000 for one cycle, as stated by NerdWallet. Often, as many as 2-3 cycles are needed before conception takes place. That’s a likely cost of between $30,000 and $45,000.
Therefore, it shouldn’t be a surprise that employees want to relieve some of this financial burden. Family planning is expensive. And without financial support or healthcare coverage, the hopes of starting a family without accumulating debt diminish severely.
Become a more inclusive and diverse workplace
Fertility benefits and family planning should include support for LGBTQ+ and non-binary people. It’s vital not to discriminate by providing equal fertility support for all employees.
Survey results found that 36% of LGBTQ+ women and non-binary people with children experienced barriers or challenges when trying to start or grow their family.
Further, only 1 in 5 companies that provide fertility coverage also provide coverage for adoption or foster assistance, as found in the 2021 Fertility IQ Workplace Index. The lack of support for adoption and foster assistance may be particularly troublesome for same-sex relationships—particularly homosexual men—and those looking to pursue single fatherhood.
Retain and attract top talent
A 2021 report from Carrot Fertility surveyed 5,000 people across the U.S., the UK, Canada, India, and Mexico on fertility impacts in the workplace. 72% of respondents said they would stay longer at their company if they had access to fertility benefits. Meanwhile, 65% of respondents would change jobs to work for a company that offered fertility benefits if their company did not.
Your employees want fertility benefits, and you need to listen to them to retain top talent. The same applies to attracting new hires—employees actively seek these particular benefits. It’s your job to meet them as best as possible!
Key takeaways
1 in 6 adults worldwide experience infertility
Fertility options such as IVF can cost upwards of $45,000
Employees need financial aid to support family planning
Companies that provide fertility benefits are more likely to have loyal employees
FAQs
How can I help my employee going through IVF?
Begin by educating yourself on fertility. Then, assess your options. For example, you could provide financial support, counseling, or add flexible work options to support your employees during IVF.
How many companies offer fertility benefits?
As many as 40% of companies in the U.S. offer fertility benefits—that’s 4 for every 10 companies.
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Author: Lindsay Johnson, CEO and Founder of FitPros
FitPros is a turn-key wellness provider empowering people to take charge of their personal health.
Contact FitPros to diversify your company’s wellbeing offerings and help employees meet their health & fitness goals.