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Bank of Montreal
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FP says TD, others want to help with gender transitions

2021-05-25 06:52 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Saturday edition that a growing number of banking and financial services companies in Canada are offering gender-reassignment benefits to their clients and employees as part of their core health coverage. The Post's Stephanie Hughes writes that beginning this year, Manulife Financial added fully covered gender affirmation benefits for Canadian and American staff to cover surgical procedures like Adam's apple reduction surgeries, cheek or breast augmentation, as well as non-surgical supports like voice training. Starting on June 30, insurance agency Green Shield Canada also plans to include gender affirmation offerings in all of its standard benefit packages, reimbursing the costs of surgeries that are not already covered in provincial and territorial health insurance programs. Other banks, like TD, CIBC and Bank of Montreal, have added gender reassignment to their general medical benefits plans for employees as well. TD was the first Canadian bank offering gender affirmation benefits, introducing them in regular medical coverage in 2008. In TD's program, employees and their dependants have 100-per-cent coverage for surgical costs that fall outside provincial health care coverage.

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