In the last few years, parental leave, family planning, and fertility treatment have become a highly in-demand employer-sponsored benefit, with some surveys reporting that more than two thirds of job seekers would consider changing jobs for better family planning benefits. Many employers are already jumping to meet this demand, with the number of large companies adding or expanding their family planning benefits growing 8% year-over-year in 2021. And with the Great Resignation shaking up the labor market and the recent Supreme Court decision to overturn the precedent set by Roe v. Wade bringing conversations around family planning to the forefront, we can expect many more employers to consider expanding their fertility benefits packages in the coming years.
Benefits of all different sizes, costs, and coverages can fall under the “family planning” umbrella, and before adding a slew of supplemental benefit offerings to your current package in order to stay competitive, it’s worth doing your own research and meeting with your broker to discuss which options make the most sense for your organization.
As you reevaluate your current fertility and family planning benefits offerings, here are some things to consider:
Increased paid family leave is an extremely attractive benefit to employees and one that can be addressed without necessarily involving a search for new vendors or services. An overwhelming majority of large firms (>70%) currently offer some form of paid family leave and more than 50% plan to offer adoption leave in the coming years. Meet with your team to decide what’s possible for your firm.
Work with your team to understand how increased family planning options fit into a broader support system for employees and their families. Many employers also consider adding on-site childcare and childcare benefits, or additional mental health and behavioral support services for families. Ideally, additional family planning and fertility offerings should connect with the entire suite of benefits your firm offers.
Adding fertility and family planning benefits can bolster DE&I efforts, helping typically underrepresented groups, such as people of color and LGBTQ+ couples, access the reproductive health care they need. Work with your DE&I and People teams to understand how to best meet the needs of these groups.
Technology will guide changes in fertility care. The marketplace for fertility and family planning benefits and telehealth in general has exploded in recent years. Most services in the market provide some form of telehealth or virtual scheduling or meeting, which can make it even easier to get care to the employees who need it most.
To help our clients provide the best possible benefits for their employees, we’ve partnered with several leading Fertility and Family Planning vendors now accessible through our vendor marketplace. For more information, contact your Newfront Advisor today.
The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Newfront shall have no liability for the information provided. While care has been taken to produce this document, Newfront does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided.
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