BEFORE Getting Pregnant: Health Insurance Checklist
One item a couple should never overlook before getting pregnant is a health insurance checklist. The reason is simple: having the proper coverage in place is vital to the health of mom and her newborn, and once you are already expecting it will be too late to get a policy. Pregnancy is a pre-existing condition for virtually any insurance policy.
Putting the right health plans in place before getting pregnant should be the number one tip at the top of every preconception checklist. Nothing could be more important, but overlooked at the same time. From this writer’s perspective the top three tips on everyone’s preconception checklist should be:
Preconception Advice: Check Your Maternity Coverage
The most important preconception advice for couples is to verify their maternity coverage on their health plan. Most couples working for employers with more than 15 employees will have the coverage they need. The Pregnancy Discrimination Act makes it unlawful for health plans to exclude coverage for normal maternity related conditions.
Couples buying coverage as individuals or as part of a small group may not be so lucky. Many of these plans only cover your condition if you purchase a maternity rider. Check out the insurance laws in your home state to see what if anything is available.
No matter where you look, one rule will remain the same: your maternity coverage must begin prior to conception. Some will often include a waiting period of up to twelve months before an expectant mother will be covered. So make sure getting the right coverage in place is on your preconception checklist. Don't fool around with something this serious.
Before Getting Pregnant - Purchase Supplemental Insurance
Supplemental Health Insurance allows you to replace maternity leave income, and protect your family finances in the event of complications prior to delivery, preterm childbirth, postpartum problems, along with accidents and illnesses that could befall anyone.
* Short Term Disability Insurance supports a percentage your income during your maternity leave while you recover from a normal childbirth, and may continue making payments if you experience postpartum complications that delay your physical recovery.
* Hospital Indemnity Insurance also covers your admission for normal labor and delivery, and provides extra protection in case your child is born premature, and spends time in Neonatal Intensive Care.
But your coverage must begin BEFORE getting pregnant. Don't miss out.
Preconception Question: How Can You Cut Infertility Costs
Another important question to ask before getting pregnant is “how can I cut my costs of infertility treatments, prenatal care, childbirth, and child care. Make sure to understand how to use the U.S. tax code to maximum advantage before going off your birth control, or starting any infertility treatment.
Your costs for Artificial Reproductive Techniques (ART), pregnancy test kits, ovulation kits, prenatal care, child care and more are all tax deductible expenses. Depending upon your financial circumstances, and the amount of costs you incur while trying to conceive and after conception, one of two tax savings vehicles may work best:
Flexible Spending Accounts provide first dollar tax savings with a limit to what can be contributed. Know how the plans work to cut your costs throughout the time prior to conception, during your pregnancy, and after your delivery.
Schedule A allows for deductions on bigger expenses typically associated with couples using IVF in order to conceive. Make sure you understand the deduction floor of 7.5% of Adjusted Gross Income (AGI) before your next cycle, or if thinking about purchasing multiple cycles as part of an IVF refund program.