Razorpay, recently, in a move that promotes inclusivity, has extended its health insurance policy to same-sex and live-in partners as well as those who identify as LGBTQIA+. The company, in its policy, will be covering infertility treatment and gender reassignment surgery as well for its employees.
The company which has a strength of 2,300 employees currently has become the first fintech unicorn in India to devise a health insurance policy this inclusive. And it is heartening for many, given the high costs of infertility treatments and gender reassignment surgery. While health policies most often include your spouse, this policy recognises the rights of live-in and same-sex partners and remains inclusive to everyone irrespective of the gender they identify with.
“The thought behind launching this revamped health insurance policy was led by the desire to find ways of building a workplace that practices diversity and inclusivity. Razorpay is revolutionising ‘caregiving’ by extending coverage beyond the traditional definitions of a family,” says Anuradha Bharat, Vice-President, People Operations, Razorpay.
When it comes to gender reassignment surgery, Razorpay will cover it with a cost limitation and be only subjected to co-pay. The policyholder will have to shell most of the fee from their own pocket.
Infertility treatment is covered under maternity benefit, which has been increased from ₹50,000 to ₹75,000. The policy also covers certain long-term ayurvedic treatments.
A few other companies that have made their health policies more inclusive are Procter & Gamble, Tata group, Citibank, RBS, and Capgemini.