The Financial Post reports in its Wednesday edition that Manulife Financial has added gender-affirmation coverage that pays for some surgeries and other treatments for its transgender employees in the U.S. and Canada, putting it in a select group of companies that offer such benefits.
A Bloomberg dispatch to the Post reports that the coverage includes surgeries such as Adam's apple reductions, cheek or breast augmentation and treatments like voice training, Manulife said Tuesday.
The addition of benefits for transgender employees puts Manulife in a rare and shrinking group of employers covering such procedures. Only about 7 per cent of U.S. employers pay for gender reassignment surgery, according to a 2019 study from the Society for Human Resource Management. That is down from 10 per cent in 2017, echoing a decline in other coverages geared to specific groups such as bariatric weight-loss surgery and in-vitro fertilization, the group said.
Manulife's Pam Kimmet says: "As the needs of our employees evolve, the benefits we offer have to as well. Families take many forms, such as single parents, same-sex couples, and transitioning transgender family members. And we look to support these different journeys."
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