JPMorgan to cover U.S. staff travel expenses for out-of-state abortion: Memo – SABC News

The largest bank in the United States, JPMorgan Chase & Co., will cover expenses for employees in the United States who have to travel far from home to receive medical services, including “legal abortion”, according to a staff memo that the bank earlier this month broadcast and viewed by Reuters on Friday.

The memo, dated June 1, was first reported by CNBC minutes after the United States Supreme Court took the dramatic step of reversing the 1973 Roe vs. Wade ruling that upholds a woman’s constitutional right. recognized on an abortion.

“We are committed to the health and well-being of our employees, and want to guarantee equal access to all benefits,” a bank spokesman said on Friday.

JPMorgan is one of a growing number of large companies, including Citigroup (CN), (AMZN.O) and Tesla Inc (TSLA.O), which are rolling out policies to ensure staff have access to abortion services, pending of Friday’s verdict.

The Walt Disney Co. made a similar announcement Friday.

By deleting abortion as a constitutional right, the ruling restores the ability of states to pass laws prohibiting it. Twenty-six states are seen as certain or likely to ban abortion now.

Citi was the first major U.S. bank in March to announce that it would cover travel expenses for employees leaving the state for abortion following severe new restrictions in Texas and other states. A spokeswoman for the bank declined to comment Friday.

Goldman Sachs Group Inc. reviewed its policy, according to a person close to the bank who spoke in early May. It was unclear Friday whether that was still the case. A Goldman spokesman did not respond to a request for comment.

Deutsche Bank AG said Friday that it has updated its health care policy to cover any treatment that is not available within 100 miles (161 km) of an employee’s home, including abortion.

The country’s other major lenders – Bank of America, Wells Fargo and Morgan Stanley – did not respond to requests for comment, while AIG, the country’s largest insurer, declined to comment.

Such policies risk the wrath of federal and state Republican lawmakers, who say the benefits are equal to companies taking political sides. But Citigroup and JPMorgan said paying for out-of-state care is in line with their long-established health care policy.

“This benefit is not meant to be a statement about a very sensitive issue,” Citi’s Chief Executive Jane Fraser said in response to questions from investors about the policy in April.

“We have been providing reproductive health benefits for more than 20 years, and our practice has also been to ensure that our employees have the same health coverage, regardless of where they live in the US.”

JPMorgan said the new policy begins next month, and that employees can use paid time off for days spent traveling before the procedure.

JPMorgan to cover U.S. staff travel expenses for out-of-state abortion: Memo – SABC News

Source link JPMorgan to cover U.S. staff travel expenses for out-of-state abortion: Memo – SABC News

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