Between the impact of inflation and rising drug prices, U.S. employers of all sizes (and some of their employees) are likely to absorb significant increases to their health insurance costs in 2024. But even as healthcare costs for companies reportedly jumped by more than 6%—the biggest increase in about a decade—nearly half of employers say they plan to double down on family health benefits in the coming years.
That’s one of the findings from new research released today by Maven Clinic, the virtual healthcare provider and benefits platform. Maven has also announced an expanded partnership with AT&T, which secures family-building support and fertility benefits for the telecom giant’s entire workforce of 125,000. The report, which draws on feedback from 1,200 HR leaders and more than 3,000 employees, found that about 70% of employers believe reproductive and family health benefits are important to help attract prospective hires, while 75% said it was crucial for retention.
While fertility benefits used to be somewhat unique to large tech companies, the offering has grown far more common over the past decade, even trickling down to hourly jobs, as it has become more of a priority for employees. According to the report, about 57% of workers have switched jobs or seriously considered a job offer because of its fertility-and family-planning benefits—a figure that is supported by accounts from workers who sought out roles at companies like Starbucks and Amazon, largely because of their benefits.
It’s not just millennial workers who are clamoring for these benefits: In fact, Maven’s report indicates that more Gen Z workers—46% compared to 35% of millennials—are considering fertility benefits when they choose to stay at their company or seek out a new role elsewhere.
Fertility benefits are still not as widespread as, say, mental health support or parental leave that extends beyond the amount of time mandated by law (that is, in states where there’s any paid leave at all). But Maven’s report indicates that the offering will only grow more popular, especially as companies evaluate which benefits are most widely utilized; according to the report, about a third of employers are trimming benefits that are not used enough, while 38% are trying to consolidate vendors.
The company’s expanded partnership with AT&T seems to reflect this shift, which will likely lead employers to invest further in platforms such as Maven that provide both fertility care and more comprehensive healthcare support. AT&T has already provided its employees with maternity care through Maven since 2021; now, however, its entire workforce—regardless of the state or job title—will have access to Maven’s fertility care. While Maven already partners with half of the 15 largest U.S. companies by revenue, AT&T’s workforce ranks as one of the largest employee groups to have access to Maven.
