SAN FRANCISCO--(BUSINESS WIRE)--Future Family, the leading platform for family-building with flexible financial plans and concierge support services, announced today the launch of its first product for employers. This game-changing benefits program allows employers to offer up to $50,000 of financial support to employees to cover family-building and family care expenses, including out-of-pocket healthcare and family related expenses. Employees also get built-in care navigation and concierge services on-platform.
In addition to covering all fertility and family-building expenses such as egg freezing, fertility preservation, IVF, gestational carriers, and adoption, Future Family’s Family Care Benefit also provides coverage for out-of-pocket healthcare and family-related expenses such as childcare, abortion, menopause, hormone therapy, gender affirmation surgery, cancer treatment, sports medicine, women’s health, and pediatrics. Future Family’s plan covers costs of up to $50,000, five times more than the industry average benefit. This unprecedented offering ensures that employees and their families receive access, coverage, and support when and where they need it.
A key differentiator of the Future Family offering is that employers do not pay upfront for the benefit but rather contribute monthly to their employees’ financing plan. This budget-friendly solution gives more employers the opportunity to offer benefits. The level of contribution is flexible and can be set in consultation with the Future Family benefits team. The new program is targeting high-growth tech companies and SMBs, as these companies are often budget-sensitive, care about talent attraction and retention and align with Future Family’s value proposition of inclusive family care.
“Today we see more and more employers wanting to offer their employees support for all dimensions of family care from reproductive care to fertility treatment to other out-of-pocket healthcare expenses,” explains Future Family CEO and former fertility patient, Claire Tomkins. “This led us to design the most flexible and inclusive family care benefit available today. Starting now, an employer can unlock this financial benefit for their employees, no matter if their budget is big or small. Additionally, all employees get concierge support and care navigation through the Future Family platform and our team of registered nurses and on-demand financial experts.”
With this new benefit, employees can qualify for and access up to $50,000 in financial support on a monthly buy-now-pay-later family care plan. Employers elect how much of the monthly plan to pay on behalf of their employees. It allows employers to control their budget while also building a powerful retention incentive for employees, who would lose the monthly contribution if they depart from their employer.
Importantly, the financial benefit can be offered as a stand-alone solution, as well as a complement to existing benefit programs that may not offer comprehensive financial coverage.
“Future Family’s employer benefit sets itself apart from the competition as an offering that is democratizing the family-building process,” said Barbara Wachsman, former Managing Director of Benefits at The Walt Disney Company, who helped Future Family design the offering. “The plan is filling in the critical gap that exists in the current healthcare landscape with high out-of-pocket expenditures, and creating financing options for people who have never had the opportunity to pursue family planning or face high-interest rate medical debt.”
This benefit supports critical DE&I efforts by providing comprehensive financial support for all employees regardless of age, race, sex, sexual orientation, gender identity, relationship status, or life stage. Future Family’s coverage of up to $50,000 ensures that employees undergoing expensive pathways such as gestational carriers and adoption have the coverage they need. The Family care benefit covers fertility, family-building, and everything that follows; including but not limited to egg freezing, fertility preservation, IVF, IUI, out-of-pocket health care, and family-related expenses, such as cancer treatment, funeral expenses, and childcare.
“How to pay for fertility treatment is one of the main topics discussed in infertility support groups,” said Madison from Georgia, a Future Family patient and expecting mother. “If Future Family didn’t exist, my husband and I likely would have needed to delay our treatment and jeopardize our chances of growing our family.”
Under the offering, all employees will get access to Future Family’s concierge services. The digital platform provides users with the following: dedicated financial counseling, provider matching, bill pay management, and digital care coaching with registered nurses.
To learn more about Future Family, please visit www.futurefamily.com/employer.
About Future Family
Future Family is the leading family-building platform, offering financial plans and concierge support for those navigating fertility care and family-building. The company’s mission is to make family-building and family care accessible, affordable, and inclusive to all. Future Family's fintech and digital health platform bring together buy now pay later plans for fertility treatments combined with digital coaching by registered nurses and on-demand support. Future Family was founded by former SolarCity exec Claire Tomkins, whose own fertility struggles inspired her to improve the experience for others.