(Bloomberg) -- Walmart Inc., the largest private employer in the US, said it will now cover fertility benefits under its insurance plan.
Employees enrolled in its medical plan will get subsidies for in vitro fertilization, genetic testing and intrauterine insemination at a network of clinics run by fertility benefits company Kindbody, the retailer announced on Tuesday. Walmart will also give employees financial support for surrogacy or adoption, up to a $20,000 lifetime cap.
The number of companies offering fertility benefits to workers has grown in recent years as companies look to attract and keep talent.
Survey data from workforce consultant Mercer showed that in 2015, just under a quarter of large employers—those with 500 or more workers—covered IVF, for example. In 2020, the figure rose to 27% and last year jumped to 36%. Meanwhile, in 2020 17% of US companies offered financial assistance toward adoption, up from 12% in 2014, according to the International Foundation of Employee Benefit Plans, a nonprofit that researches worker benefits.
As of 2019, more than 1 million US workers and their family members received medical benefits through Walmart. The company now gives birth moms up to 16 weeks paid time off when they have kids. New parents, including adoptive and foster parents, can receive six weeks’ paid parental leave.
Walmart said last year it would raise pay for its US workforce, bringing its average hourly wage to $16.40.
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