Morgan Stanley joined other large U.S. banks, including Goldman Sachs, expanding its healthcare coverage to include travel costs for employees seeking abortion services if they are not locally available, according to a source familiar with the matter.
It is the latest financial company to expand healthcare policies to cover these costs following the Supreme Court's decision Friday to overturn the 1973 Roe v. Wade precedent that had legalized abortion in the United States.
Also Monday, private equity firms Blackstone Inc. and Carlyle Group Inc. said they will reimburse U.S. employees' expenses for traveling out of state to access abortion reproduction care services.
A Blackstone spokesperson confirmed its new policy in a statement to Reuters. Carlyle Chief Executive Kewsong Lee notified staff about the new benefit in a memo on Monday, a spokesperson said.