It is a new year and 2018 is here. Out with the old and in with the new. A time when you evaluate where you been and where you are going. Perhaps you are looking for new motivation, getting an additional degree, finding a different apartment, starting a new relationship, getting engaged, having a baby or even finding a new job. Before you blast your resume on those job boards, have you ever given a thought to the company benefits offering you assistance to preserve your fertility or help you start a family?
Companies now offer to pay off student debt, subsidize egg-freezing services and provide cash stipends for employees to go on vacation, those are some powerful perks. Did you know that more than 250 US employers offered a fertility benefit in 2017, which is a 10% increase from the year prior even though it is still relatively uncommon corporations offer any assistance. Affordability of fertility hormones and medications alone can be daunting. Not to mention the often out-of-reach costs of obtaining the fertility or cryopreservation treatments that could help have a family one day.
The good news is that fertility treatments have come a long way in the past few decades. It might be hard to believe that in 1978 when Louise Brown became the world’s first baby born as a result of IVF in England, the procedure was highly controversial. Baby Louise’s face graced the cover of countless magazines known as the world’s first “test tube baby.”
Back then medications to control ovulation didn’t yet exist so doctors would test a woman’s urine to find out when she was ovulating and then retrieve the eggs vaginally using a telescope. Ultrasounds did not exist nor did the precise laparoscopic methods for extracting eggs. Egg freezing and genetic testing have also changed the game when it comes to more accurate and successful fertility treatments. As women wait longer to get pregnant, more and more are finding success with fertility treatments like IVF. Simultaneously, companies are starting to realize that this is one of the most appealing benefits to attract and retain great employees.
Fortunately, a number of employers are stepping up to the plate and providing their employees with excellent fertility and cryperservation coverage that can make the difference between having a baby and not being able to afford to get help. If you’re looking for the all-star companies to join here a count down to the top 10 companies leading the pack when it comes to fertility coverage and benefits.
Chanel is the only fashion mega-company to provide fertility benefits. Chanel provides its employees with unlimited access to IVF if employees demonstrate a medical need. Chanel is the best within its industry in terms of fertility coverage because while a number of tech companies offer unlimited coverage of IVF, Chanel is one of the only companies in the fashion industry to do so.
Coverage: 3 cycles of fertility
Cloud computing company Salesforce provides three cycles of IVF to their employees with no maximum cost limit. They also provide coverage for PGS testing. Salesforce waives pre-authorizations and makes IVF benefits available to any employee, meaning it doesn’t have to be medically necessary for employees to be eligible.
Coverage: 4 rounds of fertility and IVF
Starting this year, Pinterest will offer its employees four rounds of IVF with no cap on amount, meaning each cycle is covered regardless of cost. The company will also cover the cost of egg freezing, and provide $5,000 for coverage of adoption and $20,000 in net benefits for surrogacy coverage. $100,000 for four cycles of IVF and preimplantation genetic screening. What’s notable is that Pinterest doesn’t require its employees to show that they’re eligible for fertility treatments, making it easier for non-heterosexual couples and single parents to access the benefit.
#7 The Bill & Melinda Gates Foundation
Coverage: 4 cycles of IVF
In January 2017, the foundation began offering employees infertility treatment coverage. The company covers four cycles, and by the end of the third quarter more than three dozen employees had already taken advantage of the benefits at an average cost of $55,600.
Coverage: 4 cycles of IVF
Facebook’s fertility policy was the best of the technology companies. The social media giant provides coverage for four cycles of IVF which covers both fresh or frozen cycles. They also cover pre-implantation genetic diagnosis (PGS testing) to genetically test embryos prior to implantation with IVF. The benefit is open to all employees (no pre-authorization required). Facebook does not require its employees to show that they’re eligible for fertility treatment to get the benefit.
#5 Bain & Company
Bain & Company was called one of the best places to work by Glassdoor, and this may be why. The global management consulting firm provides unlimited IVF for females with male partners with medical necessity, reciprocal IVF for women without a male partner (When one woman undergoes treatment to create the embryos, while the other receives the embryo transfer) and donor sperm for women without a male partner, as well as coverage for egg freezing.
The Swedish music-streaming service Spotify offers an unlimited fertility benefit and is known for its great benefits coverage. The company offers unlimited coverage of IVF, as long as patients can prove medical need. However, the company does require employees to show that they’re eligible for fertility treatment. This can make the benefit less accessible to non-heterosexual couples and single parents.
Employees are limited to $15,000 medical, and $5,000 for fertility drugs. The neat thing about Starbucks is not necessarily how large the benefit is, but how widespread it’s distributed. In fact, all employees, including those who work part-time (at least 20 hours per week) are covered under the plan. According to company spokesmen Reggie Borges, Starbucks takes a lot of pride in providing its employees with fertility benefits.
Global investment firm KKR provides employees with unlimited benefits for fertility treatments. One note: In order to be eligible for the benefit, employees must have a consultation with an infertility support provider first. KKR offers an unlimited IVF benefit for its employees, though like others, requires employees to show that they’re eligible for the fertility benefit.
#1 Bank of America
Bank of America is a winner when it comes to fertility benefits, providing unlimited services and no dollar limit on employees seeking fertility treatments. Bank of America is one of the only banks to provide unlimited IVF coverage. The company does have some qualifications employees have to hit to be eligible for coverage, which can make accessibility tricky for non-heterosexual couples and single parents. In all, around 2,500 employees, spouses or partners received coverage under the plan in 2016 alone. They were also one of the first to do so — all limits were removed from plans in 2011.
Didn’t see a company you want to work for on our Top 10 list? Check out the other employers with the most generous fertility and IVF coverages to keep an eye on. Also check out these major tech company parental leave stats.