What's Happening?
Progyny, a company specializing in women's health and fertility, has launched a new fully-insured benefit option called Progyny Select. This initiative aims to make it easier for small- and mid-size employers to offer fertility coverage to their employees.
The plan features a fixed premium model with predictable per-member-per-month pricing, providing a comprehensive patient experience for those embarking on a fertility journey. Melissa Cummings, Progyny's Chief Operating Officer, highlighted that employers with 100 to 1,000 employees have traditionally had fewer options for fertility benefits compared to larger firms. Progyny Select is designed to level the playing field in talent acquisition by offering broader access to fertility services, including in vitro fertilization and intrauterine insemination, along with genetic testing and support for adoption or surrogacy.
Why It's Important?
The introduction of Progyny Select is significant as it addresses a gap in fertility benefits for small- and mid-size employers, which can be a strategic advantage in recruiting and retaining high-quality workers. By providing comprehensive fertility coverage, these employers can offer competitive benefits similar to larger companies, potentially attracting a more diverse and talented workforce. Additionally, the program's focus on consistent support throughout conception, pregnancy, and delivery can lead to healthier outcomes for both employees and their children, ultimately benefiting the employers through reduced maternity costs and improved employee productivity.
What's Next?
Progyny is actively working with general agents to market Progyny Select to employers seeking such benefits. By engaging these agents early, Progyny ensures that the program is designed to meet the specific needs of employers. This collaboration is expected to validate the demand for the new benefit and identify any potential gaps in the approach. As the program gains traction, it may prompt other companies to consider similar offerings, potentially leading to a broader shift in how fertility benefits are provided across different employer sizes.
