Employers can make a meaningful difference in women’s health by addressing the “3 Ms”, writes NFP’s Murray McGlynn
Despite making up over half of Canada’s population, women continue to fall through the cracks in the health care system and benefits plans due to a historical lack of medical research and understanding of their unique health needs.
Employers can’t readily change the health care system or the portion of clinical research and development devoted towards women’s health, but they can make some important changes to the benefits they offer to help address the often overlooked or downplayed health needs of working women. The ROI of doing so can be significant, helping companies gain a competitive advantage by attracting, retaining and empowering the best talent, improving overall employee wellbeing and engagement, reducing costs related to absences and leaves and building a culture of inclusivity where all people thrive.
One critical area where employers can make a meaningful difference in women’s health is by addressing the “3 Ms” — menstruation, maternity and menopause. These life stages profoundly shape the health, wellbeing and workplace experiences of women and people assigned female at birth. Each brings distinct physical, emotional and social challenges, yet they remain largely overlooked or misunderstood in most professional environments.
The “3 Ms” are not fringe issues; they are experiences and major life stages that deserve to be destigmatized and normalized through thoughtful group benefits design and workplace support. When left unaddressed, these life stages can affect attendance, productivity and career advancement. Women in today’s workforce simply deserve more than a one-size-fits-all approach that many benefits plans still offer.
According to a recent survey by RBC Insurance, 75 percent of Canadian women want or need benefits that specifically support women’s health, including coverage for services related to fertility and menopause1.
The question for employers then is whether their benefits plans and policies have the features and the flexibility to meet women’s needs, which can differ dramatically from those of their male counterparts. Those needs are diverse and addressing them appropriately through group benefits requires a shift in perspective to gain a broader, more inclusive understanding.
Choice and flexibility are the new architects of benefits plan design and employers are increasingly turning to more flexible coverage options such as Health Spending Accounts (HSAs) and Wellness Spending accounts (WSAs) to help employees use their plans in a way that best aligns with their unique values and circumstances. Spending accounts allow for the ultimate in personalized healthcare and life-staged support.
Spending accounts can significantly benefit women by providing financial flexibility and life-staged support for a range of needs, including health, wellbeing and personal development. These accounts allow women to allocate funds towards expenses like fitness, mental health services, family planning and menopause management, which can positively impact their overall wellbeing and career progression.
Here are some of the ways spending accounts can benefit women:
Enhanced Health and Wellness
Physical Health: Gym memberships, fitness classes, personal training and sports equipment that promote physical fitness and a healthy lifestyle.
Mental Health: Therapy, mindfulness retreats and mental health apps to address mental wellbeing and stress management.
Reproductive Health: Health products such as prenatal vitamins and access to maternity services like doulas, midwives and classes.
Holistic Wellness: Acupuncture, massage therapy, Indigenous health and other holistic treatments that promote overall wellbeing.
Support for Life Transitions
Family Planning/Motherhood: Help with expenses for fertility-related procedures and drugs, maternity care and childcare.
Caregiving: Dependent care, including childcare and eldercare, to ease the burden of caregiving responsibilities that often fall on women.
Menopause Management: Specific support for menopause-related needs such as coaching.
Personal and Professional Development
Professional Courses and Certifications: Funded courses, workshops and certifications that enhance skills and career advancement opportunities.
Language Learning: Pay for language learning classes or subscriptions, opening doors to new opportunities and cultural experiences.
Personal Coaching: Covered costs for coaching sessions for career development, personal growth or life transitions.
Women’s health is distinct and multifaceted, and taking proactive steps to support and prioritize it in the workplace isn't just a wellness issue — it's a culture, leadership and business imperative. When women have access to meaningful, flexible benefits, they’re able to bring their full selves to work resulting in a win-win for them and their employer.
Employers that lead the way in addressing and prioritizing women’s health will gain a competitive advantage through the retention and loyalty of their female employees, and spending accounts are a simple way to offer flexible benefits that can support specific elements of women’s health while keeping benefits plans cost low and predictable.
Murray McGlynn is a senior consultant in group benefits at NFP. He takes pride in delivering the highest quality results and recommendations to clients. His passion is helping clients improve the overall financial well-being of their employees through these plans.
