For some, there is nothing more exciting than welcoming a new baby to the family. Minds start rushing towards cute names, nursery wall colors, birth plans, and so much more! In all this bliss, the unexpected costs of having a baby are often overlooked.
Everyone hopes that their baby is the picture of health, but what happens if they get sick and need frequent doctor visits or trips to the emergency room? Are you financially prepared to take on those additional bills?
This is why putting health insurance first is essential when family planning. Those early days shouldn’t be rocked by financial instability; instead, you should be enjoying newborn snuggles and peace of mind.
The Rising Costs of Childbirth and Pediatric Care
If there is one thing that everyone can agree on, it is that healthcare costs have become increasingly expensive – giving birth is no different. In the United States, the average cost for a woman to give birth vaginally, with no complications, is $14,768. For C-sections, another common way that some women must give birth, the average cost is $26,280 due to the additional procedure and care required.
Now, those are numbers for a relatively “normal” birth where the baby is healthy. However, emergencies can occur. And should your baby need to stay in the Neonatal Intensive Care Unit (NICU), you are looking at costs of $3,000 to $20,000 per day.
Those are just the early days. Babies require tons of medical care in the first year. Not only are they more susceptible to sudden illness, but they are also required to visit their doctors for checkups at least six times before their first birthday. That could be seven different medical bills that you would pay out-of-pocket should you not have the proper health coverage for your family.
Key Benefits of Prioritizing Health Insurance
When you put health insurance first on your list of priorities, you not only get peace of mind, but you unlock other essential benefits. The first is comprehensive coverage for prenatal, delivery, and postpartum care. This ensures that mom is able to visit her healthcare provider at no extra cost during and after pregnancy.
For most plans, parents have a 30-to-60-day grace period to add their newborn to their policy, ensuring the child is covered for well-baby visits and other preventive care.
Another major advantage is that you have a financial safety net if an unexpected injury or illness occurs to either parent or baby. After all, you can’t take care of anyone if you aren’t taking care of yourself. With the right health insurance plan, both parents and their child are protected and supported every step of the way.
How to Choose the Right Plan as a New Parent
Choosing the right plan can seem like a daunting task, especially now that you’re thinking about your child. However, you just want to make sure that you know what you want to prioritize. Health plans with strong maternity and pediatric benefits are ideal. Of course, cost is always a factor. Compare out-of-pocket maximums and deductibles to select a plan that works for you.
And if you get overwhelmed and have trouble choosing, a licensed agent, like the ones we have at Empower Brokerage, is key. Their goal is to make this very important process as easy as possible for you. So, while you are picking out names and choosing strollers and cribs, reach out to us to make sure that your health insurance coverage is handled.
Have Health Insurance Questions?
We hope that this information on new parents and health insurance is helpful for you.
Insurance is oftentimes overwhelming and we want to shed light on the industry by answering your questions. Comment below and your question may be the topic of our next post!
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Empower Brokerage wants to help you find the insurance coverage you need and help you save money getting it. Stay on top of your health and give us a call at (844) 410-1320.
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