Upon becoming pregnant, a countdown of an entirely new life with new priorities begins. Expect this life to include elements such as baby gear, baby name, new sleeping and waking times, changing diapers, and more. For a pregnant parent, it is important to plan this pregnancy with a proper health care strategy. Maternity coverage and child care often become some of the most significant medical expenses that individuals will face over time. As these expenses can quickly balloon to tremendous proportions, it pays to get the best healthcare plan for pregnancy.
Knowing the Cost of a Health Plan
While making a comparison of plans to select the best healthcare plan for pregnancy, it is important to keep the types of costs in mind as mentioned below:
- Contribution (also called Co-pay) – This is the amount to be paid for each health care service, such as a doctor’s visit.
- Deductible– It is the minimum amount of money to be spent prior to the plan beginning to cover health care costs. For instance, if the deductible is $500, this amount must be spent on health care before the plan pays. This is a different amount as compared to the premium.
- Premium- It is the monthly amount that must be paid to keep the insurance
- Maximum Out-of-Pocket Cost– This is the maximum annual cost of health care services that you would be required to pay. Individuals are not required to pay more than this sum, even if their required services are more expensive.
Are Prescriptions Covered by Health Insurance?
While all plans are required to cover prescription drugs, each plan handles them differently. A prescription is the name given to a written request for medication from a health care professional. For prescription medication, it would be wise to check the online marketplace to see which drugs come under the jurisdiction of the concerned health plan.
Birth Protection is More Than Pregnancy
Birth protection should extend throughout pregnancy, not simply at the time of delivery. Inquire about birthing protection with the current plan provider. When selecting a plan, be sure to get familiar with the provider’s network and keep the below aspects in mind while budgeting for pregnancy health care:
- Obstetric surgery performed unexpectedly, epidural anesthesia administered, incubation, preterm birth, or pregnancy risk factors
- Are gender-specific interventions such as circumcision, guaranteed?
- Is Childcare Cover Part of the Package?
- Costs associated with prenatal care, testing, laboratory work, ultrasound, and prenatal nutrition
Obstetric ward and/or postnatal regular and urgent care, vaccinations, and preventative health checkups for months and years after birth, as well as planning for general child illness
Consider Paying a Greater Premium In Exchange For a High Deductible
As the above two frequently migrate in different directions, they are likely to cancel one other out during pregnancy. Upon checking into the hospital for labor and delivery, a low-cost plan with a high deductible does not save money. Additionally, those with high deductible insurance have a harder time affording care.