Goldman Sachs to pay travel expenses for US employees seeking abortion services

·2 min read

Goldman Sachs (GS), Wall Street's premier investment bank, has expanded its healthcare policy to cover travel expenses for U.S. employees seeking abortion services following the Supreme Court's decision to overturn Roe v. Wade, according to a Friday memo to employees obtained by Yahoo Finance.

"We have extended our healthcare travel reimbursement policies to include all medical procedures, treatments and evaluations, including abortion services and gender-affirming care where a provider is not available in proximity to where our people live," Goldman Sachs wrote in the note to staff.

“The health and wellbeing of our people and their families are our top priority.”

The statement by Goldman comes as a flurry of the largest companies in the U.S. have announced plans to offer financial support to employees seeking abortion services.

On Friday, other Wall Street heavyweights took similar measures, including JPMorgan (JPM), which told employees it will pay for travel to states that allow legal abortions, as first reported by CNBC.

"Our health care plans have historically covered travel benefits for certain covered services that would require travel,” JPMorgan said in a memo. “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.”

Earlier this year, Citigroup (C) became the first major bank to cover travel expenses for workers who go out of state for abortions following restrictions in Texas — a move that CEO Jane Fraser later clarified at the company's annual shareholder meeting was part of a "longstanding policy" and not intended to be "a statement about a very sensitive issue."

A growing docket of companies have newly announced or reiterated their support for employees that may need abortion services in response to Friday's ruling. Yahoo Finance is tracking the responses here.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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