JPMorgan, Citi covering out-of-state abortion costs for employees – MarketWatch

Written by Amanda
  1. JPMorgan, Citi covering out-of-state abortion costs for employees  MarketWatch
  2. JPMorgan, Goldman Sachs and Other Big Banks Will Now Cover Travel Expenses for Employee Abortions  The Wall Street Journal
  3. JPMorgan Chase tells employees the bank will pay for travel to states that allow abortion  CNBC
  4. JPMorgan to cover U.S. staff travel costs for out-of-state abortions -memo  Reuters.com
  5. Ulta pledges to help workers travel for abortions  Crain’s Chicago Business
  6. View Full Coverage on Google News

JPMorgan Chase & Co. on Friday said it remains committed to a plan unveiled on June 1 to provide travel benefits for abortions in states where it remains legal as part of its employee health benefits.

Meanwhile, Citigroup Inc. C, +3.26% in March said it planned to provide similar reimbursements to employees as the only major Wall Street bank led by a woman, Chief Executive Officer Jane Fraser.

Reacting to the U.S. Supreme Court’s decision to strike down Roe v. Wade, a JPMorgan Chase JPM, +2.98% spokesperson said, “As always, we’re focused on the health and well-being of our employees, and want to ensure equitable access to all benefits.”

A Citi spokesperson did not comment on the news.

Some three weeks ago, JPMorgan said it would provide travel benefits for any covered health care service that can only be obtained more than 50 miles from an employee’s home. Previously, the travel benefits only covered organ transplants, bariatric surgery and other more specific services. 

“We will also expand our existing health care travel benefit, which today covers certain services such as organ transplants, to all covered health care services that can only be obtained far from your home,” the bank said. “Abortion has long been a covered service, and would now be in scope.”

Meanwhile, Citi in said in March on page 20 of its latest proxy statement it began offering in 2022, “travel benefits to facilitate access to adequate resources” for reproductive health.

The bank said the benefit, beginning in 2022, was “in response to changes in reproductive healthcare laws in certain states” in the U.S.

The policy allows for reimbursements of costs paid by employees who must leave their home states to obtain abortions.

The statement came about six weeks after abortion restrictions went into effect in Texas, where Citigroup operates data offices.

Source: marketwatch.com

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Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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