Pregnancy is a time of excitement and anticipation, especially for expectant mothers. An important consideration is how much your pregnancy and delivery will cost you personally. You should research beforehand. So you’re prepared financially for your new baby’s arrival and perhaps save thousands of dollars.
So, how much will having a baby in 2022 cost? According to Truven Health Analytics, the national average for pregnancy and newborn care was approximately $30,000 for a normal delivery and $50,000 for a cesarean section (C-section) in 2020. However, your actual costs might differ significantly from this estimate depending on the following factors.
Complexity Of The Pregnancy And Delivery
The degree of difficulty of your pregnancy and delivery is primarily out of your hands. When you’re expecting a baby, your plan may be to deliver vaginally. Still, circumstances might dictate that a C-section is the wisest choice. According to a report by Truven, cesarean deliveries may be more expensive than vaginal deliveries. It’s critical to have the best healthcare plan for pregnancy and understand what it will not cover.
The Pregnancy Discrimination Act (1978) and the 2010 Affordable Care Act made it highly unusual for health plans to refuse to cover maternity and newborn care, except for short-term plans. However, one of the most typical wrinkles is dependent on maternity coverage, which applies to pregnant ladies who are covered by their parent’s insurance. If you’re still on your parent’s plan, make sure the policy covers your pregnancy and delivery — at least for now.
Network Options Available.
Consider the various plan network alternatives available to you while planning a family. To have a baby is a qualifying life event for you and your child. It means you may get health insurance right away after delivery without having to wait until next year’s open enrollment period. Once your baby is born, obtaining health insurance for him or her is simple. However, remember that this is after you’ve given birth; pregnancy is not a qualifying life event.
If you want to conceive a baby, be sure to join an insurance policy during the nationwide open enrollment period in the fall. Suppose you have insurance and believe you may become pregnant soon. In that case, you should conduct some research to see whether switching plans during the plan’s open enrollment period would save money.
There are several different types of networks, including:
- Preferred Provider Organizations
- Health Maintenance Organizations
- High Deductible Health Plans
Check if the hospital and doctor you want belong to your insurance plan’s network. Don’t assume that just because the hospital is in-network, the physician is, as well. If you don’t have insurance, your Ob-Gyn may or may not have a contract with the hospital you want.
Physicians generally bill for services separately from the hospital. Suppose your doctor isn’t in your plan’s network. In that case, you’ll be hit with all sorts of unexpected charges that you’ll almost certainly be responsible for yourself.
Prices differ significantly from hospital to hospital and doctor to doctor, making it almost impossible to predict what your charges are likely to be. According to the University of California, women in the state may be charged anything from $3,296 to $37,227 for basic vaginal delivery.
The costs of a C-section can vary widely, from $8,312 to $71,000. Finally, discounts on these covered charges range widely from one insurance provider to the next. It also adds to the confusion since your rate is determined by several factors you may be unaware of.
The best strategy is to negotiate far ahead of delivery with numerous hospitals to get the most acceptable rate. At certain hospitals, you may be able to get a contract that explains your anticipated expenses and perhaps an extended payback period. Contact the hospital ombudsman and be directed to the appropriate individual.
If you can’t or don’t want to negotiate, find out what each hospital in your region charges. A doctor can have privileges to practice at various hospitals. Ask your doctor where they have contracts to practice if you don’t know. Then check which hospitals offer you the best financial alternative to deliver your kid under your health plan.
Plan Years That May Overlap
Most health insurance plans follow a year-round calendar, which means your deductible, co-insurance, and maximum out-of-pocket reset to zero on January 1. Why is this significant? Assume you have a January 31 deadline to give birth. Because you will have received most of your prenatal care in the previous year, any out-of-pocket expenses for your January delivery will not be reimbursed.
The excitement of welcoming your bundle of joy can get overshadowed by worry about resuting costs. Finding an apprpriate insurance plan beforehand is the solution to eliminate aht worry.