It makes more financial sense to cover birth control. The pill is sure cheaper than a baby! However, I don't think it should be compulsory. Birth control is not a life saving medication, and is not generally medically necessary. In cases where it is medically necessary for something other than preventing pregnancy, it should be covered. Otherwise, it should be up to the employer to buy a plan that covers it, or not.
Part of a woman's ability to maintain health and overall well-being is tied to how much control she has over her reproductive life. A poor woman, single or married who is in an intimate relationship with her significant other or husband should not have to choose between intimacy and unplanned pregnancy. Her ability to afford and have access to contraceptives should not be hindered by any political motivations. Our world is constantly moving toward a disastrous population explosion. Our health care leaders should be literally shoving contraceptives down people's throats as we face the threat of food shortages and pandemics.
Under my definition of "contraceptives," I fully believe that they should be covered by insurance companies. By "my definition," I mean "anything to prevent development of an embryo in the woman's tomb." This does not include abortion. As Christians are firmly against abortion, insurance companies should NOT cover it. Taxpayer dollars go into insurance companies, therefore it is preferable to avoid creating a mess with people protesting where their tax dollars go. If a woman chooses to have a baby by free will or by being careless by not investing in the insurance-covered contraception methods, then decides to not have the baby, she should have to pay for her mistake herself. Let insurance cover condoms, pills, vasectomies, etc. There really isn't a reason not to in today's sexually-driven society.
Yes I definitely think contraceptives should be covered by insurance. They are a form of preventative care because they prevent pregnancy. Under the new health care laws, preventative care should be covered 100% so this should include birth control. Besides that, birth control is much cheaper than covering a pregnancy, labor and delivery.