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Industry Spotlight > Broker Dealers

JPMorgan Will Cover Employees’ Abortion-Travel Costs Starting Next Month

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JPMorgan Chase & Co., the biggest US bank, will pay for employees to travel to another state if needed to obtain a legal abortion.

The benefit will go into effect July 1, according to a frequently-asked-questions page linked to a memo to all U.S. employees earlier this month.

New York-based JPMorgan joins companies including Citigroup Inc. in paying for travel expenses for workers seeking to end pregnancies outside of states with restrictive abortion laws.

The U.S. Supreme Court on Friday overturned the 1973 Roe v. Wade decision, wiping out the constitutional right to abortion in a historic ruling that is likely to render the procedure largely illegal in half the country.

Bloomberg News reported in May that JPMorgan and rival Goldman Sachs Group Inc. were discussing extending abortion benefits to cover travel.

“Our health-care plans have historically covered travel benefits for certain covered services that would require travel,” the firm said in the FAQ page, which CNBC reported earlier Friday.

“Beginning in July, we will expand this benefit to include all covered services that can only be obtained far from your home, which would include legal abortion.”

(Image: Shutterstock) 

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