Hey guys. I’m an financial advisor but I’m no expert on healthcare and could use some assistance.
My partner and I are having a baby and trying to decide between two health care plans. On the cheaper of the two plans (plan A) it will likely costs us about 8k to have the baby at the hospital. On the more expensive plan (plan B) it will cost about 4K . However plan A costs about 4.5k year in premiums and plan B costs just over 10k. So all in all well save about ~1600 having the child on plan A.
Max out of pocket for plan A is 11k deductibles are 5k each for mother and child. Plan B is 2.5k deductibles, max out of pocket 5 k.
With that being said here is my question. I’m wondering if all the doctors visit/vaccines/etc the baby will make up for the 1.6 k in savings from the child birth. From what i am reading a baby needs to see a pediatrician about 8 times by the time they are a year old (our due date is the 8th of January). Do you think our costs for the baby will mitigate the 1.6k in savings?
Any help on this matter or advice in general would be greatly appreciated as I am not very experienced in this field.
Thanks!
My partner and I are having a baby and trying to decide between two health care plans. On the cheaper of the two plans (plan A) it will likely costs us about 8k to have the baby at the hospital. On the more expensive plan (plan B) it will cost about 4K . However plan A costs about 4.5k year in premiums and plan B costs just over 10k. So all in all well save about ~1600 having the child on plan A.
Max out of pocket for plan A is 11k deductibles are 5k each for mother and child. Plan B is 2.5k deductibles, max out of pocket 5 k.
With that being said here is my question. I’m wondering if all the doctors visit/vaccines/etc the baby will make up for the 1.6 k in savings from the child birth. From what i am reading a baby needs to see a pediatrician about 8 times by the time they are a year old (our due date is the 8th of January). Do you think our costs for the baby will mitigate the 1.6k in savings?
Any help on this matter or advice in general would be greatly appreciated as I am not very experienced in this field.
Thanks!