JPMorgan Chase tells employees that the bank will pay for travel to states that allow abortions
JP Morgan Chief Jamie Dimon speaks during lunch at Boston College Chief Executives Club in Boston, Massachusetts, USA, November 23, 2021.
Brian Snyder | Reuters
JPMorgan Chase, one of the largest employers in the US financial industry, told workers they would pay for travel to states that allow legal abortions, according to a note first obtained by CNBC.
The news came as part of an internal communication to employees explaining the expanded medical benefits that will begin in July, according to the memo on June 1[ads1].
“With effect from July, you will be able to access the additional benefits covered under the US Medical Plan,” the New York-based bank told workers. These changes include “family-building benefits, such as cryopreservation,” and improved benefits for LGBT + workers, the bank said.
“We will also extend our existing healthcare travel benefit, which today covers certain services such as organ transplants, to all covered healthcare services that can only be obtained far from your home,” JPMorgan told its employees.
JPMorgan’s announcement comes when the Supreme Court overturned Roe v. Wade, the landmark ruling that established the constitutional right to abortion in the United States in 1973. The expected result is that employees in states where the procedure is prohibited must travel to locations where it is still allowed. . Prior to today, only rival bank Citigroup was known for providing the travel benefit to employees.
In a question-and-answer website linked to the memo from 1 June, the bank directly mentioned whether it covered abortion, as well as traveling outside the state to get the procedure.
“Would you pay for an employee to travel to another state to seek an abortion if their state would not allow them to get one?” in the bank.
“Yes. Our healthcare services have historically covered travel benefits for certain covered services that will require travel,” said JPMorgan. “From July, we will extend this benefit to all covered services that can only be obtained far from your home, which will include legal abortion.”
Abortion has long been covered by the company’s health plan, the bank added.
