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Attract and Retain: Family-Forming Benefits

June 20, 2022
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Today’s employers need to understand family-forming benefits. This need grows more pressing by the day as attracting and retaining employees is more difficult than ever.

Family-forming benefits should be a part of a greater risk management strategy. As subject matter experts with leading, specialized partners, Oswald Companies will guide you through this.

Infertility is a universal struggle. According to Oswald’s partner, Progyny, a leader in family planning benefits: one in eight couples experience infertility challenges; 55 percent of individuals suffering from infertility believe it is more stressful than unemployment; and 61 percent believe infertility is more stressful than divorce. Giving employees the opportunity to strengthen their home lives will allow them clarity of mind at work.

It also helps you retain your talent. 68 percent of adults said they’d switch jobs to gain fertility benefits according to a report by Reproductive Medicine Associates of New Jersey.

Employers seeking to deepen their equity and inclusion mission can do so with family-forming benefits by appealing to employees of varying backgrounds, including single parents, members of the LGBTQ+ community and more. Inclusive family benefits include donor-assisted reproduction, adoption, mental health services and emotional support for child loss.

Often, medical plans do not cover family-forming services. When employers partner with a specialized vendor, like Progyny, healthier pregnancies and children are expected to occur. Progyny sees a 25 percent higher live birth rate, meaning greater pregnancy success. They also see 72 percent lower IVF multiples rate, meaning healthier babies and reduced high-risk maternity and NICU costs. Finally, a 26 percent lower miscarriage rate, means proactively supporting your employees’ mental and physical well being.

Sending employees and their families to best-in-class doctors makes a measurable difference. Companies can minimize high-cost claims and retain their employees. Additionally, employees can make decisions based on care and outcomes.

At Oswald, we can help build a custom family planning program to simultaneously support employees and financially benefit your company. There is no “one size fit all” plan.

To start this process today and design a plan based on your size, budget, and needs, please contact me directly.

About Univation Labs

Univation Labs is an innovation cooperative between Oswald Companies and PeopleOne Health, focused on delivering client-driven solutions from concept to implementation. We achieve that goal by fostering the collaboration of insurance industry experts, academics and clinicians within our Clinical Advisory Board, and allow those thought leaders to interface with leading technologists and data experts. This approach allows us to deliver exceptional results to organizations and businesses for the health and well-being of their employee.


Contact:

Stephanie Gingrich
Senior Client Manager, Benefits
216.359.3976
Email

 

(Sources: progyny.com, prnewswire.com)

Note: This communication is for informational purposes only. Although every reasonable effort is made to present current and accurate information, Oswald makes no guarantees of any kind and cannot be held liable for any outdated or incorrect information. View our communications policy.