Many couples look for the best way to get pregnant without first considering their insurance needs. Normal pregnancy is an expensive undertaking by itself when you consider the costs of doctors, hospitals and mom's lost income during maternity leave. Throw in complications, and the cost equation escalates rapidly. Fortunately, buying insurance to cover your pregnancy is quite affordable. It's the one time you can buy insurance to cover a planned event: your normal labor and delivery. You can use your plans to get pregnant to turn the table on insurance companies.
The best way to get pregnant is to conceive with the proper insurance plans already in place. Once you are already pregnant it will be too late to get coverage: pregnancy is considered a pre-existing condition. There are two types of coverage you should have in place before you conceive: major medical insurance, and supplemental maternity insurance.
Major Medical Health Insurance for Doctors and Hospitals
Make sure you have a good health insurance plan in place before getting pregnant. Major medical insurance pays benefits directly to your doctors and hospitals when you go for prenatal exams, and to deliver your baby.
Group health plans through employer groups typically provide the best maternity coverage. Group plans will often cover your normal labor and delivery in addition to complications. If your employer does not offer coverage you may need to utilize the individual market.
Maternity coverage in the individual market is hard to find. Insurers want to protect themselves against adverse selection, so they rarely include coverage for a normal pregnancy without a large deductible or long waiting period. Adverse selection refers to the tendency for people to buy insurance only when they know they will need it. Even with these drawbacks, it makes sense to protect your finances in case complications arise. Most policies will cover complications.
Supplemental Maternity Insurance Fills Key Gaps
Supplemental maternity insurance pay benefits directly to you, not to your doctor or hospital the way major medical insurance pays benefits. When bought before conception it covers your normal labor and delivery helping you to create maternity leave income. Complications of pregnancy and premature birth may also result in additional cash benefits paid directly to you.
If you have an employer plan use supplemental maternity insurance to replace your income during maternity leave and allow yourself to bond with your baby without worrying about how to pay your bills. Use your supplemental coverage to fill the holes in your individual coverage. Ask your employer to make supplemental insurance available at work for you and your co workers.