Many major US companies are expanding their insurance coverage to include paying for sex change operations, according to Daily Mail. Companies like Coca Cola, Yahoo!, American Express and AT&T are among those changing their employees’ insurance coverage. Stephanie Battaglino, an employee for New York Life, underwent a transition but her insurance didn’t cover it. She borrowed money from her retirement accounts to fund the surgery, according to Daily Mail. Now she’s working with her company to change the insurance plan.
She says at first the company feared it would face large payouts if they allowed the $75,000 in coverage, but Battaglino explained that only a few would need the benefit. ‘The big misconception is we are going to go broke and all these transgender people are going to come out of the woodwork asking for gender reassignment surgery,’ Battaglino told the Daily Mail.
Those in favor of the change say it’s not just cosmetic surgery. Those with Gender Identity Disorder are at high risk for suicide and those who are treated will in turn be better employees. ‘Wells Fargo elected to offer this benefit to be competitive as an employer and also to support our comprehensive corporate commitment to diversity,’ company spokesman Mary Eshet told the Daily Mail.