Starting a family is a different journey for everyone. This is especially true for members of the LGBTQ community who are presented with unique challenges (financial and emotional) that many employers still don’t recognize or take into consideration when building a comprehensive voluntary benefits plan.
It’s no secret, fertility treatments are expensive. For LGBTQ identifying people and couples, they are faced with these expenses from the start of their journey because they are not able to get pregnant the “traditional” way. These treatments include, in vitro fertilization, adoption, donor options, and surrogacy, to name a few. According to FertilityIQ, the total average cost of an IVF cycle, including medicine and tests, is around $23,000 and the average patient needs two cycles. If a couple or individual uses a donor egg, that can add an average of $25,000 to the total cost.
Additionally, with paid parental leave benefits in the spotlight over the past year, HR teams must use this momentum to think bigger picture about how employees want to be supported long before a baby joins the world. If LGBTQ employees cannot afford to take on the financial burden of different fertility treatments, solely providing paid parental leave will not keep them from leaving if they will never be in a position to use it.
If your company’s voluntary benefit offerings do not include fertility and family planning services and support for all employees, why not?
Companies like Spotify, Bank of America, Starbucks and Pinterest are just a few of the companies already offering employees varying degrees of fertility services coverage. You might see this and immediately write it off to having access to a larger budget and unlimited resources that many small and mid-size companies just can’t match.
The misunderstanding and lack of affordable options for small and mid-size companies are why we started Nubundle. Partnering with Nubundle is a seamless and cost-efficient way for companies of all sizes to give every employee access to a family planning concierge, educational resources and valuable financial support. In addition to showing employees that their employer cares about their life outside of the office, fertility benefits help increase overall loyalty, increase the effectiveness of talent acquisition, and show customers outside of the organization that they support a company with high values.
The good news is that in addition to the number of companies offering fertility benefits growing year over year, it is also reported that employers are realizing the importance of inclusivity when it comes to fertility offerings. This year it is expected that 81 percent of employers who offer fertility benefits will provide coverage to same-sex couples too.
In the spirit of Pride Month and its focus on equality for all, our team at Nubundle is challenging HR professionals and employers to take a hard look at their family-friendly and fertility benefits in June and consider how it empowers employees of all sexual orientations.
To learn more about bringing Nubundle to your organization, contact us here.