February 9, 2008 — Goldman Sachs Group Inc., the world’s biggest securities firm, expanded its health insurance plans last year to cover sex-reassignment surgery as it seeks to build a more diverse workforce, Fortune reported.

The employee plans covers transgender-related prescription drugs, such as testosterone injections, and doesn’t include electrolysis and other cosmetic treatments, the magazine reported, citing spokeswoman Gia Moron.

Goldman Sachs’ health-maintenance and preferred-provider organizations offer the surgery for free, as long as patients are screened and diagnosed with transsexualism and see an in-network doctor, the magazine said.

Related drugs still require co-pays, typically $5 to $30 a month, it said.

The surgery alone typically costs individuals who pay out of pocket between $5,000 and $150,000, depending on their circumstances, the magazine said, citing Pauline Park, chairman of the New York Association for Gender Rights Advocacy.

When contacted by Bloomberg, Moron said Goldman isn’t commenting beyond the article.

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