Insurance and Health Care Needs for Your Baby

Posted in Health Insurance

September 29th, 2009

Now that you’re starting a family, a lot of things will be changing – and your family’s insurance needs will be too. In addition to making sure you have the best life insurance policy to take care of your dependents, you will need to provide health care insurance for your new baby. The time to begin planning for your baby’s health care and insurance needs is well before your baby arrives.

Steps to Preparing Insurance for Babies

Here are a few things you can do to make sure your baby has the best health insurance plan you can provide.

• If both parents are receiving health insurance benefits, compare both policies and see which one is the best fit for your growing family’s health care needs. What are the co-pay amounts? Are enrollment changes allowed? If one parent or the other is planning to change jobs, or leave their employer to take care of the baby, will they be covered under the other policy? Your benefits administrator at the office should be able to help answer any questions you might have.
• Notify your insurer of the new arrival in your family. Some providers have deadlines and requirements for registering a newborn child, and you don’t want to find yourself missing the deadline after the baby is born. If you are planning to adopt, you should also consult with your insurance provider to make sure you are meeting all the coverage requirements. Your state insurance commissioner’s office can provide more information if necessary.
• You should also ask your company’s benefits administrator about something called an HSA a health savings account that allows you to set aside pretax dollars for your child’s medical expenses. Many employers offer this type of flexible spending account as a benefit to their employees, so educate yourself on this option.
• Finally, make sure you understand your coverage options before the baby arrives, and review the coverage for delivery, pediatrics and associated costs. The more you plan ahead for your baby’s health care needs, the better off your family will be!

To learn more about how you can properly secure a good health insurance plan for your baby’s needs, contact a health insurance specialist.