The Rising Cost of Pregnancy: What Employers Can Do About It
The cost of childbirth in the United States is rising – leaving many patients with overwhelming out-of-pocket expenses for even traditional deliveries with zero complications. Additionally, depending on which state the birth takes place in, the cost of childbirth can vary greatly, according to a recent Health Care Cost Institute (HCCI) report.
Organizations that provide comprehensive benefits are not only helping to reduce pregnancy costs for their employees, but also for the company. In this Q&A with Shelly MacConnell, Chief Strategy Officer at WINFertlity, a leading family and fertility benefits provider, she discusses the rising cost of pregnancy and more.
Here’s what she had to say.
What does a comprehensive benefits package include to truly care and support staff?
SM: A family building benefit should be inclusive to all employees regardless of their journey to parenthood. This includes those struggling with fertility, members of the LGBTQIA+ community, single parents, and those that may wish to preserve their fertility for the future. I believe a comprehensive benefits program should provide:
- Access to compassionate support from experts to help navigate and guide people through this complex, clinical, and highly charged experience. This should include all aspects of care including fertility nurses, male reproductive health professionals, pharmacy experts, mental health support, nutritional guidance, and more.
- Financial support that is equitable for all employees regardless of their journey including fertility coverage even without a history of infertility, adoption, surrogacy, and cryopreservation.
Employers are increasingly creating a single inclusive benefit limit available to all employees; this allows heterosexual couples, same-sex couples, and singles access to the same level of support for building their families.
Why have benefits become critical for employees and employers alike?
SM: Studies have shown that inclusive family building benefits are integral to attracting and retaining top talent. Talent is increasingly attracted to organizations that support employees across the spectrum of their needs and helps individuals achieve personal goals and fulfillment. There is also a critical need for employers to provide programming for employees from preconception, to return to work, and up through child development and family support.
How can fertility benefits help businesses stay ahead of the curve in recruitment and retention?
SM: Advancing diversity, equity, and inclusion has become a key consideration and business strategy for top executives. Family building benefits and family support benefits are increasingly vital to that mission. Whether it is gender equity, overcoming social determinants of health, or creating equity for employers across the globe, fertility benefits help more and more companies design programs that stay ahead of the curve and advance the global search for talent.
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