How much do I have to pay to have a baby?

Whether you're having your first child or your last, having a baby is one of the most beautiful moments of your life. Unfortunately, the joy is overshadowed by the fear and anxiety of answering the question, "how much will this cost?"

Oftentimes, the questions don't stop there: Follow-up question include:

• How much will insurance cover?

• How much do we pay out of pocket?

• What exactly does insurance cover?

• When will I be billed? And who will send the bill?

• Do I actually have to pay that bill?

According to Peterson-KFF Health System Tracker, giving birth (pregnancy, childbirth, and post-partum care) average roughly $18,000+.

Even when healthcare and insurance cover most the costs, there is still an amount that you have to pay. And again, unfortunately, that number is unclear and difficult to prepare for.

Sadly, those without health insurance are stuck paying the total amount.

How can I be financially prepared?

No one wants to hear the words "you better start saving". While the general advice is solid, it's not helpful and doesn't offer specific guidance on how much to save or what I should be saving for.

The first step is to decide what type of care you want when giving birth. Important factors to consider are:

1. Prenatal care

2. Type of birth

3. Location (charges included in hospital, birthing centers, at-home, etc.)

4. Medications

5. Baby's hospital charges

Once you have an idea of what you're looking for, you will want to do research on those costs - especially if you don't have insurance.

If you have insurance or other healthcare options, give your provider a call or research the coverage options. Included in those coverages are HSA accounts. If you have an HSA, start contributing with pre-tax dollars.

Peterson-KFF Health System Tracker provided estimated average costs based on large group health insurance plans:

• Average cost of childbirth: $18,865 ($2,854 - average with health insurance plans)

• Average cost of Vaginal delivery: $14,768 ($2,655 - average with health insurance plans)

• Cesarean (C-section): $26,280 ($3,214 - average with health insurance plans)

Peterson-KFF Health System Tracker, 2022. Costs are based on large group health insurance plans.

REMEMBER: Just because you have a "perfect plan" for your birth, doesn't mean it will happen that way. As hard as it is to hear, you should expect complications, change of plans, and things not going the exact way you want.

BUT DON'T WORRY THOUGH, YOU GOT THIS!

Welldone

If have no idea where to begin with planning and need help understanding the potential costs and how much you should pay, Welldone is hear to help you! With Welldone, you will be empowered to take back control of your healthcare by joining you on your journey to help you understand the costs, know how much you'll need to pay/save, what bills you can dispute and more! Get started with Welldone today!

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