Baby on the way...Need insurance help!

[Bikesy]

Hey Team,

DW just found out she's pregnant with our first :).  I just switched employers and am in the midst of enrolling in health benefits.  I've always been in an HSA plan since we're both relatively healthy; however, I was wondering if it made since to switch for the time being with a bunch of medical costs on the horizon.  The plans I'm comparing are an HRA and an HSA...I put together a very simple Excel sheet with the pertinents + our income and projected taxes for the year.  Please let me know if you need anymore info.  I'm also not sure how much it costs to have a baby, I can only assume it's expensive :)

PS.  We currently have about 5,000 in our HSA which could be used as well.

Thanks for the help!

[Gin1984]

It depends on the rest of your insurance.  We had about 15-20 obgyn visits (which your insurance has an rate for), then an ultrasound (or two), plus all the blood work plus the birth itself (which again will depend on the insurance's rate). 

[Gin1984]

Also, if you switch insurances, can you get assess to a health care FSA?

[Bikesy]

It looks like everything is 90/10 after deductible.  I would have access to an fsa.

[Mutton Chop]

Can't open the attachment (don't have excel on this comp).

• What is the deductible and the out of pocket maximum for the new HSA employer plan?
• Are you guys generally healthy outside of the pregnancy? (low rx, low hospital use?)

Option 1:  Keep HSA, lower monthly premium, use $5k to hit deductible/out of pocket expenses
Option 2: Move to richer plan for 1 year, pay more each month, potentially still need $1,500 - $3,000 (?) to hit deductible

I'd take option 1 assuming you have:
- Good cash flow
- You guys are healthy
- You have cash to cover your deductible and out of pocket maximums for 1 year

You can always switch to a richer plan next year in open enrollment.  You may even have ANOTHER open enrollment this fall.  Good luck.

[Zette]

What is an HRA? 

My gut says the pregnancy year and baby's first year are expensive.  You've got at least 10 OB/GYN visits plus an hour-long ultrasound for an uneventful pregnancy, and 30% of deliveries end up in c-section.  Then about 7-8 well-baby visits the first year. 

If you can switch every year, I would probably go for the traditional plan now and switch back to HSA when the baby is 2.

[La Bibliotecaria Feroz]

You can change as soon as baby's born because it's a "qualifying life event" (double-check with employer). That's what Mr FP and I did both times! We got the fancy, low co-pay plan and we were glad we did, because I had a CS. Then when baby was born full-term and healthy, switched down to the cheaper plan with higher copays. Then come open enrollment time eight months later, I found out I was pregnant again! Quick, enroll in the fancy plan again! Then back out again after baby was born.

A healthy baby is cheap in the first year, because all those well-baby visits are free under the ACA. Congrats on new baby!