It’s June, which means that it’s Pride Month. A month to celebrate how far the LGBTQ+ community has progressed and acknowledge the work that we still have to do to achieve equality. As an employer, it’s also an important time to review your diversity, equity, and inclusion (DEI) goals to understand how you can better support the community and your employees.
Many companies may start by looking at their hiring practices. For others, they may need to reevaluate salaries and promotions. But for many companies, meeting DEI goals means implementing fertility benefits for their employees. Wondering why?
For employers, the advantages of adding fertility benefits are significant. Companies with an established culture of inclusion enjoy 2.3 times more cash flow per employee, generating 1.4 times more revenue. Fertility benefits also increase workplace satisfaction by 1.5 times and result in 2.5 times less absenteeism. They are pivotal in hiring for diversity, but also for attracting and retaining top talent. At the same time, infertility coverage does not result in a significant increase in medical plan costs.
Having these benefits is also extremely advantageous for employees, especially within the LGBTQ+ community. Without fertility and family building options, most LGBTQ+ couples don’t have access to easily grow their families. This is a concern, as 63% of LGBTQ+ people between the ages of 18-35 are thinking about expanding their families. Out of pocket costs for IUI, IVF, and gestational carriers can be extremely high, prohibiting many from achieving their family building goals. Also, traditional insurance or state-mandated coverage for fertility treatments don’t always take into account the LGBTQ+ community, as many plans require an infertility diagnosis before paying for treatment. Deterimining whether this diagnosis can be applied has been problematic for many in the LGBTQ+ community.
Choosing a fertility benefits provider can be difficult, but there are some important aspects to consider:
- Ensure that you understand what treatments are covered: There are many different fertility options, but they don’t all work for everybody. Choose a plan that includes a variety of treatments and solutions, such as sperm donors, egg donors and gestational carriers, which are especially important for the LGBTQ+ community.
- Choose a provider that you trust: Traditional vendors may have barriers that limit access for the LGBTQ+ community. By using specialty vendors, such as ARC Fertility, you can find cost-effective, customizable plans that work for your employee demographic.
- Facilitate employees’ access to guidance: Starting a family should be easy, but for many, it’s not. Secure a provider that offers exceptional care and guidance for employees that are navigating fertility treatments. This can greatly reduce stress when undergoing treatments.
By implementing benefits that prioritize family building, employers can meet DEI goals, as well as promote a family-oriented culture. And it can go a long way to making your LGBTQ+ employees feel welcomed and supported. This Pride Month, consider investing in options that actively support your LGBTQ+ community by adding fertility benefits.
If you’re struggling to implement fertility benefits, we can help!
