I think each of my babies had two or three "sick" visits in the first year for things like terrible diaper rash or an ear infection.
I had the kind of health insurance at the time where you just pay a $50 sick visit copay, but my sister has had an HDHP for years and she tells me that a typical sick visit for her kids (for something like an ear infection, to which her oldest is prone) costs about $200.
There is no "individual deductible" within a family HDHP. The plan doesn't pay anything until the full deductible is paid. Yes, I plan on the birth exceeding the deductible, which is why Option 2 with the lower deductible seems like a good option if we can assume that the baby probably won't be billed for much on his own.Two nights, room & board at the local hospital for just my daughter was $2,0008. If you're having a hospital birth, expect to pay out the nose for what amounts to an expensive hotel visit. My daughter was also heavily jaundiced and spent a night under UV lights, that was $800.
Also congrats!Yes, this. Congratulations! Raising a child is far more rewarding than any other experience in my life.
There is no "individual deductible" within a family HDHP. The plan doesn't pay anything until the full deductible is paid. Yes, I plan on the birth exceeding the deductible, which is why Option 2 with the lower deductible seems like a good option if we can assume that the baby probably won't be billed for much on his own.
There is no "individual deductible" within a family HDHP. The plan doesn't pay anything until the full deductible is paid. Yes, I plan on the birth exceeding the deductible, which is why Option 2 with the lower deductible seems like a good option if we can assume that the baby probably won't be billed for much on his own.
Yes, but it stays an 'individual' plan until the baby is added, correct? It's not clear to me if the birth would apply to the individual deductible (since it happens before moving to a family plan) or if it applies to the 'family' deductible anyway.
Forgive me if this is a stupid question :)
Related question:
My wife is has an ACA plan. When do we add the baby? For example once the baby is delivered do I have to sign up for a plan for the baby at that moment or is there a grace period?
We had our 2nd child about two months ago and were faced with the same dilemma. In the end I ended up choosing what my colleague called "the poor man's plan". We had multiple options and in the end chose the plan that offered the highest employer HSA contribution (while also maxing the HSA contribution on my end since it's tax free money) and highest deductible, but had the lowest monthly premium cost. We figured the money saved on a lower monthly premium and higher employer HSA contribution made up for the difference in deductibles (1500 vs 4k).That was not true for my plans, nor for my parent's plan which is a completely different state/employer.
If you really dive into the details and break it down penny by penny comparing plans, they all end up being relatively close to the same. Much of it depends on how risk adverse you are.
Total bill for mom and baby was around $12,000 and we ended up paying about $5,000 (4k deductible and approximately 1k in additional expenses after coverage kicked in). Sounds hefty, but was easily covered with our HSA account (tax free!). My monthly premium for a family of 4 was $158 per month vs the higher coverage plan for around $400.
We're a health family and the lowest monthly premium plan was the best option for us, but the key is making sure to max your HSA every year.
There is no "individual deductible" within a family HDHP. The plan doesn't pay anything until the full deductible is paid. Yes, I plan on the birth exceeding the deductible, which is why Option 2 with the lower deductible seems like a good option if we can assume that the baby probably won't be billed for much on his own.
Total bill for mom and baby was around $12,000 and we ended up paying about $5,000 (4k deductible and approximately 1k in additional expenses after coverage kicked in). Sounds hefty, but was easily covered with our HSA account (tax free!). My monthly premium for a family of 4 was $158 per month vs the higher coverage plan for around $400.
There is normally a 30 day grace period. But you might as well do it from the hospital while you're thinking about it.
| Description | Sticker price | Insurance negotiated rate | Primary insurance paid | Secondary insurance paid | We owed |
| OB physician services | $5,059.00 | $4,399.42 | $3,135.92 | $1,263.50 | $0.00 |
| Hospital stay | $6,584.05 | $6,584.05 | $6,368.03 | $216.02 | $0.00 |
| Description | Sticker price | Insurance negotiated rate | Insurance paid | We owed |
| Pediatrician visit (day 1 in hospital) | $145.00 | $116.80 | $0 | $116.80 |
| Pediatrician visit (day 2 in hospital) | $165.00 | $137.83 | $0 | $137.83 |
| Newborn hearing test | $326.00 | $297.12 | $267.41 | $29.71 |
| Hospital stay | $3,108.55 | $3,037.00 | $2,733.42 | $303.68 |
Congrats on the Mini Cyclone!
Does your LPFSA have a grace period or carryover? Our FSA has a $500 carryover if we don't spend it.
Due to a few surprises, we're going to have lower expenses this year than I anticipated as well. I scoured the list of eligible reimbursement items with an HCFSA to stock up on things at the end of the year if we're running short. Turns out saline solution, sunscreen, lactaid, OTC fluoride (w/Rxn from dentist), dental visits, and a bunch of other random stuff we'd buy anyway are reimbursable. See what you might be able to get with the money if you wouldn't otherwise be buying expensive glasses.