Jul 16 in 🎙 Expert Voices
The Importance of Equitable Benefits
While benefits are a crucial part of compensation, there's a significant gap in transparency and equity in the United States. Farheen Dam, North America Health Solutions Leader at Aon, emphasizes the need for tailored benefits that meet the unique needs of every employee.
About Benefits Affordability:
“Did you know that 22% of U.S. employees are spending 10% or more of their income on health care? In addition, half of Americans are unable to pay for a $1,000 unexpected medical bill within 30 days; this increases to about 66% for people of color and low-income workers. To address this affordability challenge, we’re helping employers design subsidy approaches.”
About Inclusive Policies:
“72% of employers currently cover fertility treatments, but many require a medical diagnosis of infertility to qualify for the benefit. There are many types of families – same-sex couples, single parents by choice, etc. – who will never meet this criteria. So why can’t we remove the medical necessity requirement and, instead, provide the same financial allowance for adoption and surrogacy so that all paths to parenthood are included?”
What challenges have you encountered regarding benefits transparency and equity in your organization? How can companies better address the unique needs of diverse employees?
Join the Discussion.
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The Importance of Equitable Benefits
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