STORK CLUB - Meet A Vendor
Shortlister hosted Adam King, Strategic Partnership Executive at Stork Club, to share Stork Club’s guide to approaching fertility and family forming benefits in a way that will help you meet your talent and DEI goals while avoiding many of the common pitfalls.
THE IMPORTANCE OF FERTILITY AND FAMILY FORMING BENEFITS
Fertility and family-forming benefits are experiencing widespread, rapid adoption far beyond the industries that have traditionally offered them. This is no surprise given the competitive talent market. Employers of all kinds are facing increased pressure to attract and retain top talent as well as meet diversity, equity, and inclusion goals.
Luckily, the experts at Stork Club recognize this need and offer fertility and family forming benefits that consider all 5 stages of the family forming journey such as:
- Long term family planning support including fertility health and fertility preservation
- Support for all paths to parenthood including assisted pregnancy, natural conception, adoption & surrogacy
- Guidance through all 9 months of pregnancy
- Newborn care
- Care for working parents
ABOUT STORK CLUB
Stork Club was founded with the vision of giving people control over their reproductive lives – regardless of gender, sexual orientation, or partnership status – so they could have both a career and a family.
They achieve this by providing high-performance flexible parental and fertility benefits to help employers attract and retain talent while reducing their overall birth-related healthcare spend and improving clinical outcomes (e.g., fewer multiple births, lower NICU spend, fewer unnecessary C-sections, faster return to work after birth, etc).
ONE PLATFORM FOR ALL THE FAMILY BENEFITS
Stork Club’s Flexible Family Benefits platform can meet your company’s needs whether you’re starting with a single benefit or you’re rolling out comprehensive multi-program coverage. Here is what they offer:
- Bundle-based benefits – easy for employees to understand, provide great user experience, and create better clinical outcomes.
- Fertility benefits – eliminate burden to prove the need, eliminate wait and costs associated with waiting, and are inclusive to single parents and same-sex couples.
- Carve-in benefit
- Embedded in the plan
- Bills are run as claims
- Shared OOPM with health plan
- Shared deductibles with health plan
- Claims are not subject to tax
- Self-funded plans only
HOW TO ENSURE SUCCESS?
One of the main rules to maintain and attract new talents is to allocate a budget for benefits that your current and future workforce will find valuable. For millennial workers, one of the top priorities for men and women is coverage for fertility preservation and assisted pregnancy treatments.
To get ahead in the battle to attract the long-term oriented talent, you should:
- Consider all 5 stages of family-building;
- Align incentives with bundle-based care;
- Move away from prior approvals;
- If you’re self-insured, implement a carve-in benefit structure;
- Guide employees towards centers of Excellence.
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