I think it should be covered.
If a condition is a consequence of a pathologic process (erectile dysfunction is most commonly caused by the same process that causes heart attacks, stroke, and peripheral vascular disease: accumulation of cholesterol in arteries) and treatment is proven to improve a patient's quality of life, the treatment should be covered. If it were up to me, IVF would be covered as well (often infertility can be linked to pre-existing medical disease).
OCPs also improve the quality of lives of many women. Prevention of pregnancy is important (many married couples do not want children and wish to avoid this issue), and these drugs have many non-contraceptive uses including for example managing hemorrhaging from menses, treatment of cystic ovarian disease, management of endometriosis, treatment of perimenopausal symptoms, management of atrophic vaginal disorders, etc etc
At the end of the day, I think its hard to judge what is NEEDED and what is elective. I mean, if a man has knee pain and only surgery can allow him to walk, does he NEED that surgery? He can after all just use a wheelchair or crutches and take pain killers. If a man has a disfiguring skin disorder that is life threatening, once the life threatening portion is taken care of, does he NEED medical care to address the disfigurement? After all its just looks and he doesn't have to look attractive to anyone? (The treatment of acne BTW is covered by pretty much all insurance plans). Such thoughts to me are appalling. You can't put a price on the value of some feature of health to a person. I'd lean towards covering most things, more often than not. Anyway I've said enough. I think I will bow out of the rest of this thread.