CIBC improves employee health and wellness benefits

TORONTOMay 5, 2022 /CNW/ – CIBC announced today that it is improving health and wellness benefits for its employees, including improving income replacement benefits during childcare leave, providing coverage for other mental health services, gender affirming care and fertility treatments, as well as access to registered dietitians. These improvements enable CIBC employees to realize their personal aspirations at all stages of their lives.

“The wellbeing of our team has long been a cornerstone of CIBC’s culture and will remain vital as we look to the future,” said Jackie Goldman, Senior Vice President, Reward, Recognition and Performance at CIBC. We recognize that our diverse team members have unique needs and we listen to them to adapt and expand our benefits programs. Our aim is to provide benefits that are inspired by our purpose and truly focused on supporting the total wellbeing of our team so that they can achieve their ambitions. †

Here are some highlights:

  • Improved childcare offers for eligible Canadian and US employees, with paid leave extended to 17 weeks effective 1er July 2022, for maternity, parental and adoption leave at Canadaas well as primary and secondary health care providers in the United States.
  • Enhanced Fertility Benefits To Support Workers With: Canada who require assistance with conception, including coverage for prescription drugs and other treatments, as well as reimbursement of certain employee medical expenses associated with surrogacy.
  • New coverage has been added for eligible gender-affirming expenses to support transgender workers. It covers specific sex reassignment surgeries and procedures not covered by provincial gender affirmation programs, up to an annual maximum of $10,000 or a lifetime maximum of $25,000.
  • Registered Dietitians have been added to the list of allied health services to help employees optimize their well-being through professional nutritional counseling, along with other eligible service providers such as acupuncturists, podiatrists and podiatrists, chiropractors, massage therapists, naturopaths and osteopaths.

These efforts build on current wellness benefits, including:

  • Increase in reimbursement to 100% for mental health services provided by psychologists, social workers, psychotherapists, marriage and family therapists, and licensed clinical counselors, up to a combined maximum of $5,000 per year for all medical options. This improvement allows many team members and their families to more than double their coverage in this important area.
  • A series of rolling tips from CIBC’s Chief Medical Officer focused on providing a trusted source of health and medical information during the pandemic and discussing health-related topics important to members of the team.
  • Access resources such as an Employee and Family Assistance Program (EFAP), an online wellness video library, and mental health treatment options available online.
  • An annual employee survey, as well as completing the Pulse surveys, and using this feedback to inform CIBC’s wellness policies.

About CIBC

CIBC is a major financial institution in North America with 11 million retail and corporate clients, including institutional and public sector clients. Through Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its digital banking network of fore and locations around the world. Canada, in the United States and around the world. Additional press releases and information can be found at https://www.cibc.com/en/about-cibc/media-centre.html.

SOURCECIBC

For more information: Kira Smylie, 416 980-2949 or [email protected]

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