Fertility Benefits Can Boost Employee Attraction, Retention and Productivity
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Work and family are traditionally two of the most significant aspects of an employee’s life. Unfortunately, family planning doesn’t always go as intended. According to the World Health Organization (WHO), 1 in 6 people struggle with fertility issues. This can make the journey to parenthood costly, stressful and challenging. So, it’s not surprising that stress from family planning often impacts employees’ work performance. A 2023 survey by fertility care platform Carrot found that 65% of employees said they spent time at work researching fertility treatments, benefits and family planning, and 55% said fertility challenges had detrimentally impacted their work performance.
Fertility issues contribute to presenteeism, a term that describes employees who are less productive due to personal distractions. In addition to negatively impacting employee morale, engagement and performance, presenteeism is costly for employers. Harvard Business Review reports that presenteeism costs the U.S. economy more than $150 billion yearly in lost productivity, far exceeding absenteeism costs. Employers that provide fertility benefits may notice that employees are more engaged, productive and likely to stay at the organization long term.
This article provides an overview of common fertility benefits and how employers can leverage them to boost employee retention, attraction and productivity.
What Is Infertility?
Infertility has been recognized as a disease by the WHO and the American Medical Association since 2017. It’s defined as the inability to conceive after a full year of trying without contraceptives. Both men and women are affected by infertility. However, individuals don’t always show identifiable signs of infertility, making this condition difficult to diagnose.
There are two types of infertility: primary and secondary. Primary infertility refers to individuals who have never achieved pregnancy, while secondary infertility refers to individuals who have had at least one prior pregnancy. As a result, infertility can affect individuals who are both starting and adding to their families. This spans a wide age range of employees, who make up a crucial percentage of the workforce. Employers that provide comprehensive fertility benefits can greatly improve the retention and attraction of this talented demographic.
Reasons Employees Pursue Fertility Treatment
There are numerous causes of infertility. Although knowing the reason for infertility doesn’t guarantee a medical solution, it can help individuals understand their medical options if they’re struggling to conceive. The following are common conditions that cause individuals to seek fertility treatment:
- Ovulation disorders—Numerous conditions can prevent or drastically lower the chances of ovulation. This means fewer eggs are present, which may force individuals to seek infertility treatments, such as in-vitro fertilization (IVF).
- Uterine fibroids—Fibroids are benign tumors in the uterus that can interfere with pregnancies. These become more common as women age, especially during their 30s and 40s.
- Endometriosis—When uterine tissue grows outside of the uterus, it can cause severe pelvic pain and affect how reproductive organs function.
- Genetic disorders—Individuals concerned about passing on genetic disorders to their children may opt for procedures (e.g., IVF) that allow doctors to screen eggs in a lab for genetic disorders before reinserting them into the uterus.
- Fertility preservation—Some treatments, such as chemotherapy, can reduce fertility. As a result, some individuals who must undergo these treatments may choose to preserve some of their eggs or sperm for fertilization later on.
Insurance plans often exclude same-sex couples or single parents by choice. Employers have an opportunity to read the fine print on plans and design fertility benefits that support modern family building.
The Cost of Infertility
According to Forbes, a single IVF cycle can cost more than $30,000. Furthermore, IVF doesn’t guarantee a pregnancy. On the contrary, research by the University of New South Wales Sydney in 2017 found that women have a 54%-77% chance of having a baby by their eighth IVF cycle. As a result, the cost of fertility treatments is a source of financial stress for those who are hoping to start a family.
The 2023 Carrot survey found that just 32% of individuals could afford fertility treatment if needed. To start a family, nearly half of the respondents were willing to take another job, 29% would need to go into debt and 39% said they would dip into their savings to afford fertility treatments. Struggling to conceive, taking on debt and worrying about paying for fertility treatment can contribute to lost productivity at work, increased stress and presenteeism. It can also strain employees’ relationships and contribute to feelings of shame, inadequacy and guilt. This can harm employees’ mental health and worsen underlying mental illness, such as anxiety and depression. Individuals who struggle to conceive also commonly report feeling isolated and that they’re not in control. This can greatly impact how an employee performs at work, including more missed workdays and greater distractions when working.
What Are Fertility Benefits?
When it comes to providing fertility benefits, employers can elect to pay a portion of infertility treatment costs as a voluntary benefit or cover specific treatments under their health plan. The right choice will depend on employee preferences and the organization’s budget. Employers may choose to cover a variety of fertility treatments to help employees with family-building, such as:
- IVF—This procedure involves egg retrieval, fertilization and an embryo transfer. It is relatively invasive and, like most treatments, can be very expensive. However, IVF remains a common fertility method.
- Intrauterine insemination (IUI)—Artificial insemination has been around for decades and is one of the most popular options for individuals who need help conceiving. IUI is a type of artificial insemination. While there are many methods of artificial insemination, they all involve manually injecting semen into the uterus or cervix with medical devices.
- Surgery—Procedures to remove ovarian cysts, clear fallopian tubes, remove adhesions from the uterus and collect semen from individuals who cannot otherwise produce it can all help resolve infertility issues.
- Medications—There are a variety of medications, both prescription and over the counter, that can help increase fertility. Medications can stimulate ovulation, promote healthier egg growth, improve sperm count and prevent premature ovulation. Egg and sperm donors are also an option.
The Importance of Fertility Benefits
Most states don’t require private insurers to cover infertility treatment, making employer-provided fertility benefits even more important and valuable to workers. Fertility benefits can help employees start a family without going into debt or suffering undue financial stress, which makes them highly desired by employees. According to Carrot, 65% of employees said they’d change jobs to work for an organization that provided fertility benefits, and 72% said they’d continue working at an organization longer if it provided such benefits. Additionally, 3 in 4 respondents said fertility benefits were an important part of an inclusive company culture.
Many employers are responding with improved family planning support amid growing interest in fertility benefits that provide support for all types of families. According to the State of Fertility and Family Benefits in 2023 Report by Maven, of nearly 600 surveyed HR professionals, 63% said they planned to increase family health benefits in the next few years and 87% recognized family benefits as “extremely important” to current and prospective employees. This is largely due to family-building benefits’ impact on employees’ mental health, performance and loyalty.
Conclusion
Fertility struggles can negatively impact employees’ mental health, contribute to financial stress and increase presenteeism and absenteeism, which worsen job productivity. As employees continue to express interest in fertility benefits, employers who cover some or all of the costs of fertility treatments can experience significant improvements in productivity and satisfaction. It can also improve employee retention and help employers attract talented prospective employees.
Contact us today for more workplace resources.
- Published in Blog
Preparing for the Fall and Winter Virus Season
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Fall and winter are when viruses that cause respiratory disease usually circulate more heavily. Before the COVID-19 pandemic, influenza (flu) and respiratory syncytial virus (RSV) were the main causes of severe respiratory disease during these times of year. Although some people have mild symptoms when they catch the flu or RSV, others get sick enough to be hospitalized. Some seasons are more severe than others based on strains of the viruses circulating and immunity to these viruses.
Respiratory disease season lasts from October through May in the United States, peaking between December and February. The timing and duration of virus activity have been unpredictable since the start of the COVID-19 pandemic. As the U.S. Centers for Disease Control and Prevention (CDC) reports early increases in some viruses, employers can plan to prepare for peak activity. Furthermore, the CDC predicts a possible increase in hospitalizations due to new COVID-19 variants or a severe flu season paired with waves of COVID-19 and RSV cases.
With respiratory infections likely in the fall and winter seasons, it’s important for employers to consider ways to mitigate or address illness among employees to help keep workers healthy and productive. This article highlights best practices for employers during the 2023-24 respiratory season.
Employer Guidance
While the COVID-19 pandemic and the public health emergency have officially ended, the coronavirus still has the potential to disrupt workplaces for the foreseeable future. As other respiratory viruses and infections spread during the fall and winter, employers should do their due diligence and continue incorporating employee health and safety in current workplace plans, policies and benefits.
Consider the following best practices for addressing employee health and safety during the 2023-24 respiratory virus season:
- Review organizational risks. Even though there are no longer any federal, state or local mandates related to COVID-19, employers can independently assess exposures and determine how to respond. Employers could identify the hazards and risks for their on-site workplaces and implement controls (e.g., personal protective equipment and administrative or engineering controls).
- Establish remote work policies. If the workforce is primarily on-site, employers can consider having a backup plan to allow employees to work from home when dealing with virus-related symptoms. Some respiratory illnesses may not be debilitating in all cases, so employees can still work but remain isolated to reduce the chances of others getting infected.
- Review paid time off and leave policies. Expanding leave policies, including allowing negative balances in paid time off banks and leave donation or sharing programs, could be helpful to employees battling illness in these seasons. Policies may also accommodate employees to take time off when they or their family members are sick.
- Encourage healthy employee behaviors. Employee education is critical for healthy employee behavior changes. Vaccinations have been shown to reduce hospitalizations, so employers can encourage employees to get vaccinated. This fall, vaccines for the flu, RSV and COVID-19 are available. Aside from vaccinations, people need to get a good night’s sleep, stay active and drink plenty of water to keep their immune systems strong. Employers could also encourage workers to eat a nutritious diet of healthy grains, fruits, vegetables and fiber. Employee benefits could support these aspects of personal health and wellness or even incentivize healthy behaviors.
- Keep cleaning supplies on hand. If employees are working on-site, it can be beneficial to have hand sanitizer and cleaning supplies available for employee use. Businesses can encourage good respiratory etiquette and hand hygiene to help prevent the spread of illnesses.
- Foster open communication. Employers can encourage employees to talk to their managers if they’re experiencing any health issues, including long-lasting ones that may impact their performance. Training for managers could also help them respond appropriately to such conversations, which could properly address employee concerns, strengthen employee well-being and reduce legal risks.
In general, employers must stay agile and accommodating while adapting to the post-pandemic workplace. Without local, state or federal COVID-19-related mandates, employers have more ownership of how they address the respiratory season while protecting and supporting their workforces.
For More Information
Along with the flu and RSV, COVID-19 has become a part of the respiratory virus season. As infections and hospitalizations are expected, employers can review workplace policies and consider ways to protect and support employees who may catch a respiratory infection this season.
For the latest updates about the current respiratory disease season, visit the CDC’s website. Contact us today for additional workplace strategy guidance.
- Published in Blog
Employee Satisfaction With Benefits Falls to New Low
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
A recent study from Metlife found that an increasing number of employees feel they are not receiving the benefits they need from employers. Employee satisfaction with benefit offerings has fallen to 61% in 2023 from 64% in 2022, reaching its lowest point in the past decade of the study’s history. One significant reason for this decrease in satisfaction is higher employee expectations due to financial and mental health struggles in the wake of the pandemic.
“Feeling cared for at work is a key driver of employees’ holistic health and happiness, which are strongly connected to employee productivity and job loyalty.”
– Bradd Chignoli, senior VP at Metlife
In general, employees continue to expect robust traditional offerings such as health insurance, paid leave and retirement. But they have also heightened their expectations regarding modern benefit options, such as financial wellness and caregiving assistance. While employers have started to increase their benefit offerings to coincide with employee desires, most have not been able to meet the newfound expectations quickly enough.
What’s Next?
With employee satisfaction with benefits falling to a new low, it’s important employers reevaluate their benefits packages. When employee needs are met, employers are likely to find their workforce happier and more satisfied with their everyday tasks. Each organization’s employees may desire different benefit offerings, so it’s important to consider the needs of the workforce before considering what to offer in the future.
For more information on employee benefit satisfaction, contact RISQ Consulting today.
- Published in Blog
PBM Drug Pricing Transparency Bill Heads to Senate
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
The Senate Committee on Commerce, Science and Transportation recently advanced a bill to increase pharmacy benefit manager (PBM) transparency and combat what some legislators called “deceptive practices.” The proposed bill received bipartisan support in the committee, with an 18-to-9 vote, and is supported by many health care and consumer organizations.
The Pharmacy Benefit Manager Transparency Act identifies activities that would be unlawful for PBMs to engage in, including the following:
- Spread pricing, a practice in which PBMs charge health plans and payers more for prescription drugs than they reimburse pharmacies
- Clawing back reimbursement payments from pharmacies
Additionally, PBMs would be required to direct 100% of any rebate to the plan or payer and disclose the cost and reimbursement to the health plan.
PBMs were initially formed to process claims and negotiate lower drug prices with drug makers. Today, they administer prescription drug plans for hundreds of millions of Americans and manage many aspects of the prescription drug process for health insurance companies, self-insured employers, unions and government programs. This includes developing lists of covered medications, negotiating rebates from drug manufacturers and contracting with pharmacies for reimbursement. According to the Pharmaceutical Care Management Association, PBMs play a positive role in creating savings and options and providing expertise for employers regarding prescription drug benefit design and coverage.
What’s Next?
Since PBMs have largely operated out of the view of regulators and consumers, this bill could impact how PBMs operate, potentially increasing prescription drug transparency. There’s currently no timeline for the Senate to consider the bill. Last year, the Senate Committee on Commerce, Science and Transportation passed the same bill, but it was never put to a full vote on the Senate floor.
Employers should continue to monitor the situation closely. [B_Official] will keep you apprised of notable changes.
- Published in Blog