Option 3: Your spouse may have access to a group insurance plan through their employer. While you may not be covered at the time you find out you’re pregnant, you can always add yourself to the plan asap. This is will be a very expensive option in regards to the monthly premiums, but your out of pocket costs may be lower on the insurance. Once you total up the costs, this option may not be very attractive. You’ll probably find out that it’s less expensive to just negotiate a cash price for the pregnancy related expenses. Don’t ever assume that because something is covered under an insurance policy that it will be cheaper than paying cash for the services. Do the math!
Option 4: Depending on your State, consult a local agent about an individual/family HMO plan in your area (most HMOs are only for small and large employer groups). These plans will generally cover maternity for a very low out of pocket, but there are not nearly as many of them as there used to be.
For example, Texas had an HMO named Scott & White until recently, where maternity related expenses were a covered expense. This was literally the only option for the self-employed in Texas, but they have discontinued the product.
The bottom line is to prepare for the expense of having a baby BEFORE you become pregnant. If you wait until after you’re pregnant or have a surprise pregnancy, your options will be very limited.
Remember, insurance cannot be purchased to pay for your bad decisions after the incident has occurred. You must have the proper coverage in place before the medical necessity has arisen. The only option for that would be the PCI plan mentioned above and that option may or may not be available much longer. It greatly depends on the upcoming presidential election and the Supreme Court decision regarding the constitutionality of certain parts of healthcare reform.
This is the same concept of expecting the auto insurance policy you bought today to pay for the repairs to your car from the accident you had last week. If a hurricane is barreling toward your home, you cannot call the homeowners insurance company to purchase a policy that will rebuild your home. It’s too late.