The growing shift from discrimination to diversity is making its way in the business market as well. Employers are embracing workforce diversity and are advocating on behalf of the trans community for more widespread acceptance.
More and more employers, such as the Fortune 100 and 500 companies, have adopted trans-inclusive insurance coverage plans. With the increase in gender identity awareness, employers are adding at least one trans-inclusive health insurance benefit in their employee benefits program.
The workforce of the future, the Millennials and Gen Z, deem inclusivity to be an important aspect in prospective employers. It would do employers good to consider being an equal opportunity employer.
Read on to see the practical attributes you should consider.
Considering the Legalities
If you’re choosing to provide trans-inclusive health insurance plans but your insurance company is pushing back, make sure to verify their federal aid status. While there are no such federal laws on the matter regarding transgender healthcare insurance, you can check up on state and local municipality laws to see if there are any requirements you need to keep in mind.
Considering the Costs
One persistent myth surrounding the transgender health insurance coverage policy is that it can cost too much. But that’s not true. Since most of the trans community is still seeking open acceptance, the data regarding their healthcare costs is limited. But a study conducted a few years ago showed that the cost of insurance claimants on an average ranged from $3,194 and $12,771 per year. It can be argued that the estimated costs for transgender employees would be the same, provided on the level of care required.
Another reason why trans employee health insurance won’t cost much is that simply, there aren’t a lot of trans individuals in the population. According to Psychology Today, only 0.005% to 0.014% of people assigned a male gender at birth report gender dysphoria later on.
Adding a Transgender Inclusion Clause
A number of big companies are including trans-inclusive benefits in their employee benefits programs. Companies like Coca-Cola, Best Buy, Boeing, Hyundai, Visa, Home Depot, and more have added explicitly stated benefits for trans employees. Adding an explicit transgender employee inclusion clause in your benefits program can help you recruit even more qualified talent.
Adopt Affirmative Policies
The language typically used in insurance policies tends to be broad and vague, leaving the trans employees exposed to discriminatory malpractice. Even if there are no explicit exclusion clauses, there’s also no affirmative confirmation that transgender-related insurance claims will be covered. So it’s good to add in a specific and clear affirmation clause to ensure your trans employees will have their insurance claims approved.
About JS Benefits Group
Our employee benefits consultancy service in Pennsylvania is known as one of the best in the area. We assist employers to create inclusive employee wellness programs. Contact us today for further details.