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Millennials are Changing how Companies See Fertility Benefits

September 18, 2018
Katie Visco

It’s no question that millennials are changing the way we work in a corporate setting. From valuing business culture to promoting work-life balances, this generation challenges companies to cultivate equal and healthy workspaces, and in the realm of fertility, that’s no different. There has been a push in corporate culture to have more fertility benefits, and millennials are stepping up to the plate to ensure that this happens.

  • Fertility benefits: what are they, and are they really necessary?
  • Changing the scene
  • Current companies that offer the best fertility benefits

Fertility benefits: what are they, and are they really necessary?

‍Why are fertility benefits covered under health insurance?

Fertility benefits fall under the umbrella of healthcare. Most benefit packages that companies offer to their employees cover the basics—vision, dental, and regular healthcare insurance— but why shouldn’t fertility benefits be included in that, as well? Fertility benefits can cover part or all of the costs associated with fertility, including:

  • In-vitro fertilization
  • Artificial insemination
  • Ovarian stimulation
  • Fertility drugs
  • Surgery
  • Egg freezing
  • Semen analysis
  • Donor eggs/sperm
  • Adoption

You might be wondering, are fertility benefits really necessary? Well, according to FertilityIQ, the average cost of an IVF cycle (including IVF itself, medication, consultations, etc.) is more than $20,000 per cycle in major American cities. In addition, they found that the average IVF patient will undergo two cycles, resulting in costs above $51,000.

The same study done by FertilityIQ found that 63% of patients and employees have absolutely no coverage when it comes to fertility costs, and only 20% received full coverage. Millennials are not only aware of these statistics but are challenging them in hopes of having all-inclusive coverage for fertility.

Changing the scene

carrot statistics

Carrot Fertility is changing the scene when it comes to fertility benefits. "We believe fertility care is a fundamental part of human health care," says Carrot CEO and co-founder Tammy Sun. "This is a core part of healthcare that has been ignored and unserved for a long time. It's time for fertility care to have a seat at the table as a first-class benefit, on par with medical, dental and vision. Our mission is fertility care for all."

Carrot is a startup that helps companies add fertility benefits to their coverage. TechCrunch explains, “Carrot works by helping company heads of HR to customize the benefits they are willing to offer employees through a direct reimbursement model.” In other words, Carrot reimburses employees after they’ve spent an allotted amount on fertility treatments such as egg-freezing or IVF. This leads to a more inclusive system because it eliminates the need to have an official diagnosis of infertility, thus extending coverage to everyone, regardless of age, sex, sexual orientation, gender identity or marital status.

In September 2017, Sun announced that Carrot Fertility raised a $3.6 million dollars. The investment, led by SoftTech Ventures, in collaboration with Maven Ventures, Precursor Ventures, Sound Ventures, Sherpa Ventures, Core VC, Founders Fund, Y Combinator, as well as angel investors, enables Carrott to continue providing their groundbreaking services to companies. Sun challenges businesses by saying, “If you say you care about women if you say you care about LGBT people, have a fertility benefit that reflects that."

Companies with the best fertility benefits

Although Carrot gives everyone the opportunity to receive fertility benefits, if you work for these companies, you might not even need the help. Huffington Post says, “Those employers offering fertility benefits often reap the benefit of strong employee loyalty which drives meaningful improvements in employee retention, ultimately helping to reduce employer costs.” Companies are starting to catch on to the benefits of offering fertility coverage, and many are changing their policies to better accommodate the modern family.

‍Companies with the most generous fertility benefits in 2017

Tech companies such as Facebook, Google, and Salesforce have some of the most generous fertility benefits, but Pinterest implemented a new system earlier this year in which they fully cover four rounds of IVF for employees.

It can cost families a lot of money to conceive a little one- but it doesn’t have to.

IVF can cost families up to $51,000 a year—that’s as much as some people’s salaries. It makes sense that a company’s healthcare insurance should cover some or all of those costs—and yet, most don’t. Fertility benefits don’t stop at IVF, as they also include services such as egg freezing or artificial insemination. Carrot Fertility is a San Francisco startup that has a mission to fill the gap of fertility coverage. They do this by collaborating with HR departments and determining reimbursement costs.

Carrot is challenging corporate culture and raising the standard for employee benefits. Companies are responding to that challenge by offering more fertility benefits to their employees, some going as far as fully covering the costs of four IVF rounds. Millennials are known for changing the business scene, and it’s no different when it comes to fertility benefits.


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