Category: Immix Group

The Workplace Has Changed—Have Your Benefits?

by Lindsay Byrka, CFP®

March 8^th is International Women’s Day, described as a day to “recognize and celebrate the social, economic, cultural and political achievements of women and girls.” This year’s theme is “Accelerate Action.” With this in mind, we wanted to highlight how employers can take action to design thoughtful benefits programs that support women at every stage of life.  Please note, while these areas are not exclusive to women, they more commonly affect women, and are more accessed by women.

Women are a driving force in today’s workforce, yet too often, employee benefits have not evolved to meet women’s needs. From starting a family to navigating fertility treatments, returning to work, or managing perimenopause and menopause, the right support can make all the difference.

While we have come a long way from a time when prescription contraceptives were excluded under benefit programs to having these covered by the government, there is still a long way to go.

The good news, as we wrote in our latest Key Conversations in Benefits article, is that 2024 saw women’s health at the forefront of many conversations.

Family planning and fertility support  

Specifically, we are seeing insurance carriers address what they are calling ‘family planning’ benefits, which include coverage for: 

• Fertility drugs
• In Vitro Fertilization
• Intra-uterine insemination
• Egg freezing
• Adoption fees
• Surrogacy costs

One in six couples faces fertility challenges; quite simply, it’s a common medical situation where both men and women may need to take medication or undergo procedures. Unfortunately, financial support via a benefits program is typically lacking; treatments are costly and rarely covered.

Depending on the provider, these expenses may not even be an option for the plan sponsor to include. If available, the coverage often needs to be explicitly added.  Typically, where coverage for “fertility” is available, drugs related to fertility treatments have been covered, while procedure costs have been excluded. Most carriers include an annual or lifetime reimbursement limit that falls far short of average expenses.

We believe that fertility coverage should be included in all benefits programs as an embedded coverage line.  Companies that offer fertility coverage see higher employee satisfaction and reduced turnover—especially among higher-level professionals delaying parenthood due to career demands.

Taking it a step further than the financial element, progressive companies are providing support not only in the form of insurance coverage for related drugs and procedures but also in time off and flexibility for the medical procedures and health impacts that can accompany those undergoing fertility treatments.

The recent announcement by the BC government regarding the funding of IVF (one round) is positive news and will provide great support to those facing infertility. Related to this, the BC government has covered prescription birth control since April 2023. The federal government is seeking to do the same across Canada.

Maternity and parental leave benefits

Canada has a reputation for excellent support and federal protections for parents who wish to take maternity and parental leave with the birth or adoption of a child. Employment Insurance, however, provides just 55% of earnings to a maximum taxable weekly payment (the same as EI).

Depending on your family situation and the cost of living in your location, many families are unable to make ends meet with one parent receiving just EI payments.

It is worth noting that more and more men and non-birthing partners are taking parental leave (47% as of 2022), but it is still primarily mothers who are taking leave (for example, 94% of mothers vs 47% of their partners claimed or intended to claim parental benefits in 2022).

Top-up pay during maternity and parental leave

More progressive companies offer top-up pay to supplement Employment Insurance payments. There are many reasons for this, including supporting mental and financial wellness, attraction and retention, and organizational culture. While this can be costly, it is ultimately an investment in the employee.

There are many creative ways to structure this; there can be the requirement to return to work for a minimum duration (or owe back the funds), partial top-ups (i.e. an additional amount of pay, but not to full income), or top-up for a limited time (this is often aligned to the maternity/ medical portion of leave).

For employers, there is no requirement to register a top-up plan with the CRA as in the past (i.e. it will not claw back EI to pay top-up to an employee on parental leave).

Despite the many benefits of offering this support, only around 58% of companies provide some form of top-up program, and this is generally limited in duration and amount.

Continuity of benefits during parental leave

While off on leave, employees are still considered ‘active employees’ meaning they have the right to continue to participate in benefits programs.

Employers are required to keep employees on employer-paid benefits while on maternity or parental leave. Generally, if employees are paying a portion of the premiums, they are able to opt out of benefits and return without penalty when they are back at work (i.e. the waiting period or pre-existing conditions period would not apply to them). It is a common practice for employers to collect post-dated cheques in order to have employees continue to cover their share of the cost if there is no pay to deduct from.

Our recommendation is always for employees to try to keep their benefits intact while on leave, to continue to support health and well-being. We encourage employers to facilitate this the best they can.

Returning to work after children

According to Statistics Canada, only 66% of mothers return to full-time work after parental leave. Proactive support during this major life change can significantly boost employee satisfaction and loyalty. Companies with better parental benefits see higher retention and smoother transitions back to work. Flexibility goes a long way!

Offering new parents hybrid work options, flexible hours and flexible benefits, all play a role in supporting this time of life. For example, many parents struggle to find appropriate daycare; employers ultimately benefit from being understanding and flexible with timelines, while setting boundaries that work for both parties. Generally speaking, it is more advantageous in the long term to offer flexibility in support of an excellent employee, than force a situation that will result in them leaving their job.

Employers should also remind parents about the support offered within an Employee & Family Assistance Program. One of our own staff members here at the Immix Group found himself overwhelmed with the ‘terrible twos’ and found that the assistance offered via the EFAP was extremely beneficial!

Mid-life women – support during perimenopause and beyond

Women, 50% of the workforce, will experience menopause, yet only 1 in 5 Canadian companies have policies to support it. (Menopause Foundation of Canada, 2023)

In the years leading up to menopause (which is technically one day!) is peri-menopause, a long transition period where women’s bodies may experience a myriad of symptoms which can be quite debilitating. Leading benefits plans include:

• Coverage for hormone therapy, medical consultations, and mental health support
• Menopause-inclusive sick leave for severe symptoms
• Workplace education programs to foster awareness

Ignoring peri-menopause and menopause in benefits planning can lead to absenteeism, productivity loss, and increased turnover among experienced employees.

One piece of good news is the government has announced funding for hormone replacement therapy (HRT) in BC beginning in April 2025, which can be very effective in assisting women in managing symptoms during this period.

Health & wellness spending accounts to offer flexibility and choice

At the Immix Group, we are strong believers in the value of Health & Wellness Spending Accounts, as a supplement to an insured benefit program.

In addition to medical expenses, a flex spending account can provide reimbursement for other “wellness or lifestyle” expenses, on a taxable basis. Families are supported with the ability to claim for childcare, children’s sports, doulas, lactation and sleep consultants, and a myriad of other related expenses that would not normally be reimbursable under a group extended healthcare program. Mid-life women can access products, medications and therapies to assist in relieving symptoms (CBT, weight training, supplements etc). A Health Spending Account also offers valuable dollars towards mental health practitioners, which are easily exhausted within a traditional benefits program.

Investing in Women’s Health is Investing in Your Workforce

Comprehensive benefits that address family planning, parental leave, mid-life health, and overall wellness can have a profound impact on employee satisfaction, retention, and productivity.

As we recognize International Women’s Day and this year’s theme of “Accelerate Action,” now is the time for employers to take a closer look at their benefits programs. Are they truly meeting the needs of today’s workforce? Thoughtful updates to parental leave policies, fertility benefits, and menopause support aren’t just perks—they’re essential to fostering an inclusive, high-performing workplace.

At the Immix Group, we believe that benefits should evolve alongside the people they serve. Interested in discussing how your organization can lead the way in supporting women’s health and well-being? Reach out to us at info@immixgroup.ca or (604) 688-5559  – we love to hear from you!