The Potential Cost of Not Offering Fertility Insurance Benefits

According to a survey commissioned by RESOLVE of 702 employees who needed IVF to build their families, those without employer-provided fertility insurance coverage often expressed dissatisfaction and, in some cases, the desire to look for new employment opportunities with employers who provide coverage.

61% of respondents without fertility insurance paid out of pocket costs between $15,001 and $30,000 for one cycle of IVF.  While the cost of adding coverage varies based on insurance companies and providers, the benefit of employee retention is easy to see when considering the cost of turnover.

A Center for American Progress study found average costs to replace an employee are:

• 16 percent of annual salary for high-turnover, low-paying jobs (earning under $30,000 a year). For example, the cost to replace a $10/hour retail employee would be $3,328.
• 20 percent of annual salary for midrange positions (earning $30,000 to $50,000 a year). For example, the cost to replace a $40,000 manager would be $8,000.
• Up to 213 percent of annual salary for highly educated executive positions. For example, the cost to replace a $100,000 CEO is $213,000.

A recent Glassdoor survey found that 4 out of 5 employees would prefer benefits to a salary increase.

Given that 1 in 8 couples are diagnosed with infertility and that the cost of offering infertility benefits does not significantly increase health care costs and may save money in the long term, can employers afford the cost of not offering fertility insurance benefits?