August 16, 2022

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JPMorgan Chase tells employees the bank will pay for travel to states that allow abortion

JPMorgan Chase tells employees the bank will pay for travel to states that allow abortion

JP Morgan CEO Jamie Dimon speaks at the CEO Club luncheon at Boston College in Boston, Massachusetts, US, November 23, 2021.

Brian Snyder | Reuters

c. B. Morgan ChaseOne of the largest employers in the US financial industry for workers has said it will pay for travel to states that allow legal abortion, according to a memo first obtained by CNBC.

The news came as part of an internal call to employees explaining the extended medical benefits set to begin in July, according to a June 1 memo.

“Starting in July, you will be able to access additional benefits covered under the US Medical Plan,” the New York-based bank told workers. Those changes include “family-building benefits, such as cryopreservation,” and enhanced benefits for LGBT workers, the bank said.

“We will also expand our existing healthcare travel benefits, which today cover certain services such as organ transplants, to include all covered healthcare services that can only be obtained away from your home,” JPMorgan told its employees.

JP Morgan’s announcement comes as the Supreme Court Roe v Wade case turned, the landmark provision that established the constitutional right to abortion in the United States in 1973. The expected consequence of this is that employees in states where the procedure is prohibited will have to travel to places where it is still permitted. Before today, the only competing bank City Group He has been known to provide travel benefits to employees.

In a Q&A webpage linked to the June 1 memo, the bank addressed directly whether it covers abortion, as well as out-of-state travel for the procedure.

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“Will you pay for an employee to travel to another country to get an abortion if their state doesn’t allow them to get an abortion?” said the bank.

“Yes. Our health care plans have historically covered travel benefits for some covered services that require travel,” JPMorgan said. “From July, we will be extending this benefit to all covered services that can only be obtained away from your home, which will include legal abortion.”

The bank added that abortions had long been covered by the company’s health plan.