Maternity Insurance

Having a baby is expensive these days! The average total cost of having a baby, from pre-natal to post-birth care, is about $7300. That doesn't include all the diapers, clothes, furniture, and formula you'll be buying.

Due to these enormous and rising costs, it is important to research your insurance coverage and plan ahead to help keep your out-of-pocket expenses to a minimum

$7300. And that's just the average cost of having a baby. What if there are complications? What if you need to have a Cesarean section? It's important to have health insurance if you are considering having a family, but even if you have health insurance, it is prudent to take a closer look at your plan to see what the coverage is for maternity.

Many health insurance plans have high deductible rates or exclude coverage for childbirth.

Chances are, if you work for a small company or are self-employed, your health insurance maternity coverage will be minimal.

If you haven't already spoken with your health insurance provider, you may check with your OB/GYN on your first appointment to confirm maternity coverage.

If you are pregnant or are considering becoming pregnant, make an appointment with your insurance agent to discuss what coverage exists in your current plan, or what other insurance plans are available. Coverage may differ greatly from state to state or between companies.

You may also want to ask about supplemental insurance and short-term disability insurance. Supplemental insurance may help with some of your co-pay responsibilities, and disability insurance can replace up to two-thirds of your income while you are away from work. Your insurance agent should be able to provide you with more information on these plans.

Once you have spoken with your insurance agent about different plans, sit down and weigh the finances of different plans. You may be able to secure better coverage for just an extra $200 a month, but if the policy has a two-year waiting period before full coverage is in force, you will pay an extra $4800 in premiums before your full coverage kicks in. By that time, you've paid about two-thirds of the average bill in premiums alone, you may still be responsible for co-pays, and you have given up two years of trying.

Insurance waiting periods are typically at least one year, so securing coverage before becoming pregnant can be critical. Planning ahead can make the process of childbirth less painful, at least financially.