Insuring a Hassle-free Pregnancy

Know Your Insurance Options Before You Conceive

By Kelly Burgess

Everyone's probably heard that it can cost from $124,000 to $249,100 to raise a child from birth to age 18. But not many potential parents know that the cost of actually giving birth averages $10,000, depending upon the state you live in and the hospital you choose. This includes prenatal care and delivery, but it's still a hefty chunk of change that usually must be paid in full within 30 days of the birth.

The good news is that insurance usually covers most of the cost. With an insurance plan that has a deductible and covers 80 percent, the new parents can expect to pay about $1,600 to $2,000 once the deductible is met. Not insignificant, but much more doable.

The bad news is that your insurance may not cover maternity benefits. Even worse, you may not have insurance at all, so you really have to make an advance plan for paying for the delivery. Here's what you need to know, and do, before you get pregnant to be sure you are financially ready to welcome that little bundle of bills, er, joy.

First, a little insurance lesson: Insurance is designed to spread the cost among as large a population as possible. This means that some people will have to pay for coverage they'll never use, such as a bachelor paying for maternity coverage. On the other hand, some people won't have a facet of coverage they want, such as infertility treatments, which are rarely covered, because the majority of the group won't benefit from it. Employers try to balance need versus want versus cost to please as many people as possible.

If you're thinking of getting pregnant, the first thing you should do is take a look at your coverage to see if it includes maternity, says Dr. Charles M. Cutler, national medical director for quality management at Aetna. This may mean contacting someone in human resources, but before you even do that, take a moment to educate yourself so that you know what you're looking for. One good source is Plan for Your Health (www.planforyourhealth.com), which will give you a good grounding in the basics of insurance.

Want to see more?

• Mulling Over Motherhood: Do You Really Want to Be a Mom?
• The Price of Parenthood: 4 Steps to Financing Fertility
• The Crystal Ball for Parents-to-be: Don't You Dare Have Kids
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