Fertility and Adoption Support Becoming Must-Have Benefits
Fertility and adoption support are advantageous in attracting and retaining talent, as well as supporting employee well-being and productivity.
As organizations look ahead to benefits packages for the coming year, many are prioritizing fertility and adoption support, according to a report from the International Foundation of Employee Benefit Plans (IFEBP). These benefits can prove advantageous in attracting and retaining talent; saving on healthcare costs; meeting diversity, equity, and inclusion (DEI) goals; and supporting the well-being of employees, said IFEBP.
The report revealed that 42 percent of employers are offering fertility benefits this year, up from 30 percent in 2020. Coverage for fertility medications has increased from 8 percent of companies in 2016 to 32 percent this year, and coverage for in vitro fertilization (IVF) procedures is covered by 32 percent of companies this year, up from 13 percent in 2016. While a growing percentage of companies are covering genetic testing, non-IVF treatments, and egg harvesting or freezing, the proportion of employers offering these benefits remains at less than 20 percent.
“We’re continuing to see a steady increase in fertility and family-forming benefits because of its high value by talent regardless of gender identity or relationship status,” said Julie Stich, CEBS, vice president of content at the International Foundation. “Additionally, these benefits are a positive way to create a more inclusive workplace.”
For families looking to adopt, leave and financial assistance are benefit offerings trending up over the past few years, with 37 percent of companies offering paid adoption leave in 2024, up from 16 percent in 2014. Twenty-six percent of employers offer unpaid leave in connection with adoption, which is the same as it was in 2014. Twenty percent of companies offer financial assistance with adoption, up from 12 percent in 2014.
“If an employee is struggling with infertility, adoption delays, or the related expenses, their work may suffer in the form of productivity loss, absenteeism, or presenteeism. Offering family-planning benefits can alleviate those stresses while supporting mental and financial well-being,” said Stich. “The increasing number of plan sponsors offering family-forming benefits indicates that they are a highly valued benefit by employees. They are also a valuable way for employers to build community and show their care and support for employees and their families, while offering a strong attraction and retention benefit.”
From: BenefitsPRO