When it comes to paying for prenatal care and labor and delivery, get your ducks in a row before you give birth. While eight months may not be enough time to get completely prepared financially, preparing for the large stack of bills before they arrive will give you the upper hand and reduce your stress.
First of all, figure out what you can afford. Not many people have the kind of cash it takes to pay a hospital bill in full when it is due, so most of us end up making monthly payments. Figure out what the maximum monthly payment you could afford will be and talk with the hospital’s billing department to find out whether that will be enough. If not, you can begin the application process for financial aid before you actually need it, which is what hospitals prefer.
Next, make a plan to save up as much as possible in advance. You may even choose to make monthly payments to your doctor ahead of time. Expect to incur anywhere between eight to ten thousand dollars in bills for an uncomplicated vaginal delivery before insurance payments. In some areas, the costs may be less and in some areas it may be even more expensive. Your hospital or doctor may be able to give you an estimate, but keep in mind that you never know what might happen during labor and delivery. That is why it is best to make sure you have maternity insurance before you get pregnant.
If you do have insurance, make sure you understand what is covered and what is not. Make sure your hospital and doctor are included in the plan; otherwise you may end up paying out of pocket for everything. Read the fine print when it comes to deductibles, too. Some reset every January, which means you might end up doubling your potential out of pocket costs if your pregnancy stretches into the next year. You may also be charged separately for services rendered to your newborn, which means those costs will be under a separate deductible as well. You may think you know the maximum you will have to pay, but you might still be surprised when you get the bill if you haven’t done your research.