If you are expecting, know that your baby will automatically be entitled to coverage under the mother’s plan for approximately the first 30 days following its birth. However, you MUST notify the carrier that you have had the baby so they can add the child onto your plan!
If your baby is born healthy, however, we recommend checking in with your broker first to make sure that adding baby onto your plan is the most cost-effective solution. Sometimes, adding baby results in your deductible immediately doubling, and this can seriously impact your hospital bill.
The cost for a newborn’s health insurance, no matter what plan you select, typically runs between $250-$350/month for the first year. (Ouch – we know, that’s steep!) Good news is that after baby’s first birthday, rates go down considerably.
In any case, if you check in with us as soon as baby arrives, we can quickly run a comparison to determine what insurance option will offer you the best value. Sometimes, when you have insurance available through your employer, adding baby onto the group plan will actually cost LESS than insuring the baby on an individual plan. It’s a moving target, so assume nothing – it pays to ask!