JPMorgan, Citi, Goldman and Bank of America are covering abortion costs for out-of-state employees

JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc. and Citigroup Inc. have announced Roe v Wade.

JPMorgan Chase said Friday it remains committed to a plan unveiled June 1 to provide travel concessions for abortion in states where it remains legal as part of its worker health benefits.

In response to the US Supreme Court’s decision in Roe v. Knocking down Wade, a JPMorgan Chase JPM,
+2.98%
The spokesman said: “As always, we are focused on the health and well-being of our employees and want to ensure fair access to all benefits.”

An internal Citigroup memo by Sara Wechter, Citi’s chief human resources officer, reiterated the bank’s policy of granting equal benefits following the landmark ruling.

“We will continue to provide benefits to support our colleagues’ family planning wherever we are legally entitled to do so,” Wechter said. “There will be intense public debate about this decision and as this unfolds please remember that even when our opinions differ, we must always be respectful of one another.”

Citigroup Inc.C,
+3.26%
in March said it plans to give employees travel reimbursements for out-of-state abortions because Wall Street’s only major bank is run by a woman – Chief Executive Officer Jane Fraser.

An internal memo at Goldman Sachs GS,
+5.79%
said it has expanded its health travel reimbursement policy to include “all medical procedures, treatments and assessments, including abortion services and gender-affirming care, when a provider near where our employees live is unavailable.” The policy comes into effect on July 1st.

A Bank of America BAC,
+0.72%
The spokesman said the company has expanded the list of medical treatments eligible for travel reimbursement to include cancer treatments, organ transplants at centers of excellence, reproductive health including abortion and hospitalizations for mental illness.

About three weeks ago, JPMorgan said it would provide travel concessions for all covered health services that can only be accessed more than 50 miles from an employee’s home. Previously, travel services included only organ transplants, bariatric surgery and other more specific services.

“We will also extend our existing health travel benefit, which today covers certain services such as organ transplants, to all covered health services that are far from where you live,” the bank said in an internal memo earlier this month. “Abortion has long been a covert service and would now fall within the scope.”

Meanwhile, in March, Citi said on page 20 of his latest proxy statement It began in 2022 by offering “travel benefits to facilitate access to adequate resources” for reproductive health.

The bank said the benefit, beginning in 2022, is “in response to changes in reproductive health laws in certain states” in the United States

The policy allows reimbursement of expenses paid by employees who have to leave their home states to have abortions performed.

The statement came about six weeks after abortion restrictions went into effect in Texas, where Citigroup operates data offices.

https://www.marketwatch.com/story/jpmorgan-citi-covering-out-of-state-abortion-costs-for-employees-11656094553?rss=1&siteid=rss JPMorgan, Citi, Goldman and Bank of America are covering abortion costs for out-of-state employees

Brian Lowry

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