JPMorgan’s benefit will go into effect July 1, according to a frequently-asked-questions page linked to a memo to all US employees earlier this month -- the same day the policy changes at Goldman and Bank of America. Deutsche Bank is also expanding employee medical coverage and will begin to cover travel costs for staff seeking abortions up to a defined distance, including across state borders, according to a person familiar with the matter, who asked not to be identified discussing private information.
The banks join companies including
“While we are still assessing the impact of the Supreme Court decision and are aware that some states may enact new legislation regarding reproductive rights, we will continue to provide benefits that support our colleagues’ family planning choices wherever we are legally permitted to do so,”
The US Supreme Court on Friday
“Our health-care plans have historically covered travel benefits for certain covered services that would require travel,” JPMorgan said in the FAQ page, which CNBC reported earlier Friday. “Beginning in July, we will expand this benefit to include all covered services that can only be obtained far from your home, which would include legal abortion.”
New York-based Goldman said in a memo to its employees that it will extend its “health-care travel reimbursement policies to include all medical procedures, treatments and evaluations, including abortion services and gender-affirming care where a provider is not available in proximity to where our people live.”
Bank of America, in a memo to employees, said it’s expanding the list of medical treatments eligible for travel expense reimbursement to services including reproductive health care.
“This step is fully consistent with our long-term, well-established approach to ensuring our benefits programs align and respond to the broad-ranging health-care needs of our employees and their families,” Charlotte, North Carolina-based Bank of America said in the memo.
American Express said its US health plans already cover abortions and provide for travel expenses if needed, according to an emailed statement.
(Updates with AmEx starting in first paragraph.)
--With assistance from
To contact the editors responsible for this story:
Daniel Taub, Dan Reichl
© 2022 Bloomberg L.P. All rights reserved. Used with permission.