Maven Clinic, the world’s largest virtual clinic for women’s and family health, released its fourth annual State of Women’s & Family Health Benefits report. Based on responses from 1,569 HR leaders and 3,752 full-time employees across the U.S., U.K., and India, the report sheds light on the family building challenges employees face and offers employers actionable insights to optimize their benefits strategies.

Family building costs have continued to surge over the last decade, with the cost of raising a child going up 9% since 2017 and childcare consuming nearly 20% of the average household income. Meanwhile, health insurance premiums for family coverage have become an even greater burden for employers, rising 7% in 2024 and surpassing $25,000 per family. Against this backdrop, Maven’s report equips employers with key insights into the most impactful family benefits that drive talent attraction and retention while controlling costs.

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“As trust in healthcare is challenged, access is restricted, and costs rise across the lifecycle, from the moment you start IVF to the moment you bring a baby home from the hospital, families around the world need more support than ever,” said Kate Ryder, founder and CEO of Maven Clinic. “When employers invest in women’s and family health benefits, they are truly changing lives, while simultaneously reducing costs and improving outcomes.”

Key findings from Maven’s State of Women’s & Family Health Benefits report include:

  • The financial burden of fertility care has reached a breaking point: 70% of employers say the cost of fertility care has increased for their organization over the past three years, and 93% of those facing higher costs are concerned about the rising expense. Nearly one third of employees (28%) pursuing fertility treatment incurred debt to cover healthcare costs. Employers recognize this status quo can’t continue—in the next year, the majority of employers (61%) affected by these rising fertility costs plan to increase access to preconception care, and over half (58%) plan to enhance or add fertility support.

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  • Parental burnout is pushing employees to the brink: 92% of working parents feel overwhelmed juggling work and family responsibilities, and 81% believe employers should step up their support. With 80% of employees saying their organization doesn’t offer any parenting support, it’s to no surprise that 24% of employees in these organizations take extended leave or career breaks. On the other hand, in organizations that provide strong support for parents, 84% report most or all employees return to work after parental leave.
  • Inadequate family building support is driving talent away: 69% of employees have taken, considered, or might take a new job for better reproductive and family benefits. Most employers (85%) recognize these benefits as critical for retention, and 69% plan to increase their family health benefits vendors in the next two to three years, a 44% increase year over year.
  • Reproductive care anxiety is on the rise post-election: Nearly half (47%) of U.S. employees who are expecting or considering having a child say they are more worried about their reproductive health following the U.S. presidential election, and 52% want their employers to advocate for continued access to comprehensive reproductive health services. Employers are resoundingly in favor of expanding support: In response to the shifting reproductive landscape, nearly half (48%) are planning to expand fertility coverage to ensure broader access to care.
  • Employers are responding to men’s reproductive health needs: 84% of men feel their reproductive health needs are unmet, and 83% don’t know where to turn for male-specific support. While 71% of employers agree on the importance of inclusive benefits for men’s health, nearly half (46%) admit their current offerings provide average or poor support. Change is on the horizon: 53% of employers are expanding benefits for male midlife health, and 65% are increasing coverage for reproductive health counseling and wellness services for men.

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Maven partners with over 2,000 employers and health plans worldwide to deliver comprehensive, high-quality care for employees starting and growing their families. Spanning Fertility & Family Building, Maternity & Newborn Care, Parenting & Pediatrics, and Menopause & Midlife, Maven’s platform offers clinical, emotional, and financial support to improve health outcomes for employees and lower costs for employers. 30% of Maven’s fertility members achieve pregnancy without assisted reproductive technology, and 74% of Parenting & Pediatrics members report being more likely to stay with their employer because of Maven.

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Source – prnewswire