Expecting a baby is both exciting and overwhelming. There is so much to do to prepare for your child’s entry into the world. You have to buy clothes, a cradle, bottles, and other assorted items that your baby will need to be comfortable and safe. The last thing that you may want to be thinking of is making sure you have enough Medical Insurance coverage. However, this is the first detail you need to take care when you first learn you are expecting. The reason is that many plans, group Medical Insurance and an individual family plan, do not cover pregnancies or associated costs.
Although the law prevents an insurance company from considering a pregnancy to be a preexisting condition many companies get around this by not offering maternity coverage at all. So when you learn that you are pregnant, the first thing you need to do is check your individual family plan or group insurance to determine if maternity is included in your health insurance premiums. If it isn’t then you have some work to do. The average baby delivery can cost between $5,000 and $7,000 and that is if there are no problems. Trouble during delivery can cause the price to jump to $10,000 and beyond so you definitely want to make sure you have insurance that will cover you.
If you have group insurance but it does not cover maternity, you can purchase a Medicare Supplemental Insurance policy just for your pregnancy. The cost of these policies will vary from insurer to insurer. On top of that, the insurance company may require you to wait a few months before they will start paying claims related to your pregnancy. This may not be a big deal if you are in the first trimester. However, if you are in your seventh or eighth month, this can present a problem. Shop around to find the supplemental individual family plan that best fits your needs.
For those that don’t have Medical Insurance at all, then you will want to shop around for an individual family plan that offers maternity. Be warned though that you may be in for a little bit of a sticker shock as these plans don’t come cheap. But if you can afford it then this is the best way to go. If you are working with a tight budget, then you may find relief by choosing a high deductible health plan or by exploring the services offered by your local social services office. You may qualify for Medicaid which can assist you in paying for your pregnancy.
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