Choice Enrollment Blog
If you’re planning to start a family you need to be realistic and practical. That means you should plan your finances ahead of time. Among the most costly part of a family’s finances is health care. Fortunately, there are a lot of ways in which you can protect yourself from health care expenses.
Beefing up your Health Savings Account (HSA)
When starting a family, you need to beef up your HSA. Although you may only have had little health care expenses until now, having a baby will change that. It is important to note that HSAs are tax-free when you use them for qualified medical expenses.
Although your HSA will not pay for diapers, it can help with pre- and post-pregnancy expenses, breast pumps and supplies, delivery, fertility enhancement procedures, and a lot more – even if you already have insurance!
Understand your Health Insurance Plan
Determine what pregnancy-related services your health insurance covers. By doing so, you will have an idea about how much you’ll be paying for out-of-pocket expenses. Generally, it includes maternity coverage before and after giving birth.
Read and understand your health insurance and don’t hesitate to ask your agent if you have any questions. Make sure that you also know the specific details of your plan which includes deductibles and provider networks.
Get more Health Insurance Coverage
Consider getting new health coverage after giving birth. With new medical expenses in the future, you might want to get more coverage and decrease your deductible. Your premiums may increase, but you’ll have lower out-of-pocket expenses.
Determine the Price of Pregnancy and Shop Around for Insurance
We all know that pregnancy and raising kids can be expensive. But that shouldn’t be a deal-breaker for you when planning a family. Instead, empower yourself and search for the best deals for health care.
As you decide where to give birth and what health providers to use, compare their costs. Ask each potential provider’s billing departments for estimates. Check with your policy and make sure that it covers the hospital and health providers you choose, as well as the services you’ll get.
Insure your Child
Your health insurance may cover newborn care, but your baby will soon need his or her own health coverage. Add your newest family member to your current health plan within two months of birth. Contact your agent if you’re unsure of what to do.
Health insurance is a necessity. Here at Choice Enrollment we will assist you in choosing the right health plan for you and your family. We offer health insurance policies that you can customize according to your needs. Get a free health insurance quote from us by clicking here. Call us at (719) 481-1616 or visit us today.