In our previous post we discussed how to start a college fund for your baby. In this post, we will discuss another important task you should do after having a baby.
2. Update Your Health Insurance Plan
Many parents assume that once they have a baby, their health insurance provider will automatically update their plan. This is not so, it is the parent’s responsibility. Once the baby is born and has a name, you will need to call your provider to form a plan that includes and protects your new addition. Many providers require you to let them know within 31 days of having the baby.
Every provider offers different plans and options, so make sure you ask important questions like:
- Will it cover newborn tests and vaccinations?
- Will it cover regular checkups?
- How much will your monthly premiums increase?
- If your budget doesn’t allow for this add-on, what state agencies are available?