Fertility Benefits: As careers delay parenthood, companies offer fertility benefits | India News
With a growing number of people delaying parenthood to focus on their careers, several companies are offering employees fertility
Merck’s new ‘fertility benefit program‘ offers financial support of up to Rs 10 lakh to employees who undertake such treatments. Shiv Kumar, HR head, Merck, said: “Research shows that the generation from the millennials onwards wants to delay becoming a parent as much as possible. Some choose to go in for egg or sperm freezing because they want to focus on their career. When we provide these benefits, it gives an individual the freedom to decide as and when he or she would like to have a child.”
Among the top 100 companies listed by Avtar & Seramount’s ‘Best Companies For Women In India’ study for 2023, 62% provided reimbursement for in vitro fertilisation and 23% for egg freezing. Around 37% of these also offer surrogacy expenses.
Anubhav Prashant, COO, Apollo Fertility, said the average number of IVF cycles done in the country is growing at CAGR of 15% per annum. “The cost of IVF treatment has increased 5-10% depending on organisations. The overall cost is aligned with broad indicators of inflation,” said Prashant.