New Research from Maven Clinic Sheds Light on State of Fertility & Family Benefits in 2023

News provided by

Mar 27, 2023, 09:00 ET

Report finds nearly two-thirds of employers plan to increase family benefits investment in the next two to three years

NEW YORK, March 27, 2023 /PRNewswire/ -- Maven Clinic, the world's largest virtual clinic for women's and family health, today released its second annual State of Fertility & Family Benefits report, shedding light on the rapidly evolving landscape of family health benefits. The report—drawing on responses from nearly 600 HR benefit decision-makers and over 1,100 full-time employees—offers employers the insights needed to make informed benefit decisions and ultimately deliver value from their family benefits investments.

Maven's report comes at a time when employers are faced with a myriad of challenges, from global economic uncertainty and evolving reproductive health restrictions in the United States to female executives leaving their jobs at record rates. As employers navigate an uncertain future, it's become even more critical to ensure benefits are creating value and meeting a range of diverse employee needs, at work and at home, while also keeping costs down.

"At a time when the economic backdrop is uncertain, what is clear is that employers increasingly view fertility and family benefits as fundamental to their long-term talent strategies — and employees view them as table stakes," said Kate Ryder, founder and CEO of Maven Clinic. "Benefits like fertility coverage and menopause support are at the top of the list for employees and HR decision-makers alike, which bodes well for the future of work."

Key findings from The State of Fertility & Family Benefits report include:

Nearly nine in 10 employers recognize that fertility and family benefits are extremely important to talent: 87% of all employers say that family benefits are extremely important to prospective and current employees. Nearly two-thirds (63%) say they are planning to increase their fertility and family benefits investment in the next two to three years. Companies that do not offer comprehensive, equitable benefits may risk losing employees. In fact, Maven's report found that 36% of employees have left or considered leaving a job because of inadequate family benefits.
Employers are investing in reproductive health benefits in the face of evolving reproductive health restrictions in the US: 71% of companies are adding or planning to add benefits or policies to accommodate reproductive health needs following the overturning of Roe v. Wade. Almost half (48%) of employees reported they feel more anxious due to the current economic climate and Roe v. Wade being overturned. Of these workers, 46% say that this anxiety is affecting their productivity at work.
More than half of global employers say benefits parity is a top priority: More than half of all companies (54%) rank global parity in family health benefits as a top priority, and 91% of companies with a global workforce say that family benefits are extremely important to prospective and current employees.
Despite increased investment in fertility and family benefits, gaps persist between what employees need and what employers currently offer: 41% of employees feel that their employer could better support their family and reproductive health needs, and 64% of employees have missed work this year because of their fertility and family health needs.

Maven is the global women's and family health partner to leading employers and health plans seeking to provide inclusive, quality care for their employees as they start and grow their families. From preconception and family-building to pregnancy, postpartum, return-to-work, parenting, menopause and beyond, Maven's platform provides clinical, emotional, and financial support to families to improve health outcomes and return-to-work rates and reduce costs for employers. Employers who use Maven see a 2:1 clinical ROI and 4:1 business ROI. Over 90% of Maven members return to work after leave, compared to the national average of 57%, and 70% of Maven maternity members report being more productive at work.

Download the full data report and learn more about how Maven supports employers here.

About Maven Clinic

Maven is the largest virtual clinic for women's and family health, offering continuous, holistic care for fertility and family building through maternity, parenting, pediatrics and menopause. Maven's award-winning digital programs are trusted by leading employers and health plans to reduce costs and drive better maternal health outcomes, as well as enhance DE&I in benefits programs. Founded in 2014 by CEO Kate Ryder, Maven has been recognized as one of Fast Company's Most Innovative Companies and has 15 million lives under management. Maven has raised $300 million in funding from leading investors including General Catalyst, Sequoia, Oak HC/FT, Dragoneer Investment Group and Lux Capital. To learn more about Maven, visit us at mavenclinic.com.

SOURCE Maven Clinic