Taylor Morrison Offers Fertility Treatment and Surrogacy Benefits to Employees

Rhea-AI Summary

Taylor Morrison (NYSE: TMHC) is enhancing its employee benefits to include up to $20,000 in fertility treatments, covering IVF, surrogacy, and other reproductive assistance. This initiative aims to support various family-building methods, addressing the emotional and financial burdens of infertility. With approximately 45% of workers considering fertility benefits essential, Taylor Morrison responds to this demand while recognizing that many employers still lack such offerings. CEO Sheryl Palmer emphasizes the company's commitment to supporting team members through these challenging journeys.

Positive

• Enhancement of employee benefits with fertility treatments up to $20,000.
• Introduction of surrogacy support reflecting inclusion and diversity.
• Alignment with employee expectations, especially among Gen Z and millennials.

Negative

• None.

Expanded family-forming benefits include in-vitro fertilization (IVF) and surrogacy allowances

SCOTTSDALE, Ariz., Jan. 31, 2023 /PRNewswire/ -- With family so often associated with home, national homebuilder and land developer Taylor Morrison (NYSE: TMHC) is enhancing its suite of employee perks to include additional family-forming benefits.

Team members enrolled in any of Taylor Morrison's medical plans are now eligible for up to $20,000 in fertility benefits covering a range of treatments such as in-vitro fertilization (IVF), intrauterine insemination (IUI), fertility testing and restorative treatments. Taylor Morrison is also newly introducing financial support for surrogacy assistance. These fertility benefits are in addition to the company's established paid parental leave and adoption assistance.

"The journey to parenthood oftentimes isn't linear or without trials," said Chairman and Chief Executive Officer Sheryl Palmer, mother of three and grandmother of five. "There is also a magnitude of diversity when it comes to the different ways families are built, including people struggling with infertility and those who become parents later in life, to single parents and LGBTQ+ couples." 

One in eight couples struggle with fertility according to the Centers for Disease Control and Prevention's national survey of family growth.^[1] The average cost of one IVF cycle ranges from $12,400 –$30,000 and surrogacy costs in the U.S. rank the highest in the world.^[2]  

One longtime Taylor Morrison team member with a 20-year tenure recounts her own experiences with fertility treatment five years ago, costing upwards of $65,000.

"Infertility can be a long, emotional and costly journey," shared the Texas-based team member. "After several difficult years trying to conceive, my daughter was born with the help of IVF. I know firsthand what a blessing these fertility benefits will be for those struggling to start a family, and I am overjoyed to work for an employer who cares."  

As a growing workforce of Gen Z and millennials increase demographically, many report a desire to join an organization that aligns with their core values while also offering competitive employee perks.^[3] Fertility benefits like those offered by Taylor Morrison are beginning to be seen as a necessity among nearly half of workers (45 percent) according to a recent survey conducted by The Harris Poll.^[4] Yet in 2022, 39 percent of employers with more than 500 employees still do not provide any kind of fertility benefit.^[5]

"To alleviate some of the associated stress and financial burden that comes with building a family through avenues like IVF, surrogacy or adoption is one of the most meaningful ways we can take care of and support our team members," added Palmer.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation's leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison and Yardly. From 2016-2023, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research. Our strong commitment to sustainability, our communities and our team is highlighted in our latest annual Environmental, Social and Governance (ESG) Report.  

For more information about Taylor Morrison, please visit www.taylormorrison.com.

CONTACT: Erin Kristick
(480) 840-8108
ekristick@taylormorrison.com  

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SOURCE Taylor Morrison

FAQ

What new benefits is Taylor Morrison offering its employees in 2023?

Taylor Morrison is offering up to $20,000 in fertility benefits, including IVF and surrogacy allowances.

How much does IVF cost on average according to the press release?

The average cost of one IVF cycle ranges from $12,400 to $30,000.

What percentage of employees consider fertility benefits essential?

Approximately 45% of employees view fertility benefits as essential.

When was the press release regarding employee benefits by TMHC issued?

The press release was issued on January 31, 2023.

What does the new fertility benefits package include?

The package includes IVF, intrauterine insemination, fertility testing, and support for surrogacy.