The Truth On The Cost Of Pregnancy
Have you thought ahead regarding what your cost of pregnancy will be? You may find that the cost of pregnancy is more than you’ve imagined. The cost of labor and delivery is one of the most expensive health care costs in the U.S. No matter if you have insurance or not, this experience could cost up to tens of thousands of dollars. Maternity costs can be greatly reduced by attaining some sort of medical insurance.
Cost of Pregnancy: Health Insurance
Looking for health insurance can seem extremely complex and can be more vigorous when dealing with your pregnancy. Here are some health terms to learn and recognize when your shopping around:
- Premiums: This is the amount of money you’ll pay each month for your coverage.
- Out-Of-Pocket: This is the money you’ll pay for medical visits and procedures to your medical practitioner which includes:
- Co-Pay: This amount of money could range from as little as $25 to $50, and the insurance company covers the rest. If you have a high deductible, you’ll have to pay the deductible only and no co-pay.
- In Network Co-Insurance: This is the percentage you’ll pay if you have a big procedure done (c-section or delivery) at an in-network hospital or doctor.
- Deductible: This amount is what you’ll pay before your health plan starts sharing some of the costs.
- Out-Of-Pocket Max: This amount is the absolute most you’ll pay for health care in a year. This doesn’t count monthly premiums and includes co-pays and coinsurance you’ll continue to pay after the deductible is met.
Cost of Pregnancy: Medicaid
If you qualify with having low income, you can enroll for year-round medical coverage. You’ll hardly spend any money on your pregnancy because most expenses are covered when pregnant. Reports have shown medicaid out-of-pocket expenses for a pregnancy at less than 1 percent of total costs.
Cost of Pregnancy: Marketplace Coverage
Open enrollment normally starts in November and closes in January. There’s tons of options to choose from in this plan. If your employer doesn’t cover the costs, you may be eligible for subsidies.
Cost of Pregnancy: Employer Coverage
A 2014 Kaiser Family Foundation survey found if your covered with private health insurance, the average premiums for employees that work at large firms being similar to Marketplace ones for the silver plans.
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