Fertility and adoption support becoming a must-have for employers
Fertility and adoption support are advantageous in attracting and retaining talent as well as supporting employee wellbeing.
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. These benefits can prove advantageous in attracting and retaining talent, saving on health care costs, meeting DEI goals and supporting the wellbeing of employees, said IFEBP.
The report revealed that 42% of employers offer fertility benefits this year, up from 30% in 2020. Coverage for fertility medications has increased from 8% of companies in 2016 to 32% this year, and coverage for in vitro fertilization procedures is covered by 32% of companies this year, up from 13% in 2016. While a growing percentage of companies are covering genetic testing, non-IVF treatments, and egg harvesting or freezing, the percentage of employers offering these benefits remains less than 20%
“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, VP 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% of companies offering paid adoption leave in 2024, up from 16% 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% in 2014.
Read more: Aetna to expand fertility procedure coverage
“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 wellbeing,” 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.”