Most people find it impossible to predict when and if they will land in the hospital for an illness or injury. And if it does happen, you may find lots of left over medical bills that weren't in your yearly budget. One segment of the population can predict a hospital stay, giving them a great advantage over everybody else: women planning a pregnancy. Most women choose to deliver their baby in a hospital. This translates into two important points: there may be left over medical expenses, but there is also an opportunity to purchase supplemental insurance to offset these expenses and more.
Left Over Hospital Bills
A stay in the hospital can end up costing you more than you ever expected. Many insurance plans now contain deductibles, and/or daily co-payments. The insurance industry likes to call these plans "consumer directed" to put a positive spin on plans that simply keep annual premium increases slightly lower, only to leave those unfortunate enough to get sick or injured with a big unpaid balance at the end of a hospital stay.
And many times these deductibles and co pays are only the tip of the iceberg. Consider the out of network provider dilemma. Many hospitals utilize contractors for anesthesiology. You pick a hospital that is in network for your insurance carrier only to find out after discharge that the anesthesiology group was out of network. A few weeks after discharge you get a bill for the portion above "usual customary and reasonable". These fees are now your responsibility.
And what about those specialists who visit you while in the hospital? Are they in or out of network? The answer can have a huge impact on what you owe. Your health insurance plan negotiates hefty discounts for plan members who stay in network. The difference between what a provider charges, and what your insurance pays can be shocking. Don't be caught by surprise!
Then there are little annoyances like the daily fee for using the TV, parking your car, family travel expenses, and lost income while in the hospital and then recuperating at home.
Women Planning a Hospital Stay
Many women who are planning a pregnancy are planning a hospital stay. Unless you are planning to deliver in a taxi cab or through a midwife, you most likely are planning a hospital stay. With that comes all of the left over bills described above. What if the anesthesiologist administering the epidural is out of network? Can you to make the extra payment when the bill arrives during your maternity leave?
At the same time, you also have the opportunity to purchase supplemental health insurance plans that pay cash benefits directly to you for your hospital admission, and during the time you are unable to work during your maternity leave. While the rest of the world must wonder about purchasing extra coverage just in case they get sick or hurt, women planning a pregnancy are planning a hospital stay, along with missed time from work.
Wouldn't it make sense to purchase coverage before getting pregnant? Once you are already pregnant, it will be too late to apply for coverage.
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