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Wells Fargo to cover employees' traveling and lodging costs for legal abortions
By Arghyadeep Dutta - Jun 27, 2022, 05:25 PM ET
Last Updated - Mar 06, 2024, 02:40 PM EST
US bank joins other companies in reimbursing expenses for healthcare services
• US bank joins other companies in reimbursing expenses for healthcare services
Wells Fargo & Co (NYSE: WFC) will reimburse its employees and their dependents for traveling more than 50 miles and lodging for healthcare services like abortions, Reuters reported on Monday, citing an internal memo to staff seen by the news outlet.
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The US bank became the latest company to expand its healthcare policies to cover abortion costs after the Supreme Court on Friday issued a ruling overturning its 1973 Roe versus Wade decision that recognized a woman’s constitutional right to an abortion and legalized the practice nationwide.
On Monday, several large private equity firms, including Blackstone and TPG (NASDAQ: TPG), pledged to cover any abortion-related travel costs for US employees who live in states where the procedure is outlawed.
Right after the ruling on Friday, financial giant JPMorgan Chase & Co (NYSE: JPM) told its employees, “We will also expand our existing health care travel benefit, which today covers certain services such as organ transplants, to all covered health care services that can only be obtained far from your home.”
Walt Disney Co (NYSE: DIS) said the company recognized the “impact” of the Supreme Court’s decision and “remain committed to providing comprehensive access to quality and affordable care” for all Disney employees and their families, which includes family planning and reproductive care, “no matter where they live.”
Picture Credit: Bloomberg
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