How to Save Money for Childbirth (prenatal Care and Delivery)

Childbirth can be very expensive. You don't want medical bills from the birth to haunt you for years after. If you save up cash before and during pregnancy, then you might be able to avoid the stress of bills.

	Get as much health insurance as you can. If you are already pregnant and don't have health insurance, it will probably not be possible to get maternity coverage in the individual market. However, group plans often do not consider pregnancy to be a pre-existing condition, and thus you might be able to get decent coverage by switching jobs or having your spouse switch jobs to a job with benefits.
	Get on a written monthly budget where you allocate all your money on paper before you spend it. If you tell your money what to do, it will do it. See the resources section for an article on budgeting.
	Call your OB/GYN and hospital to determine how much you are expected to pay. If you have insurance, your insurance company many have negotiated special rates. If you don't have insurance, shop multiple doctors and hospitals. If you already have cash, offering them cash in advance may get you significant discounts. Also, ask the hospital about discounts for timely payments. Some hospitals will eliminate half the bill if you pay it the same day. Also ask about discounts for low income families if you have a low or moderate income.
	Calculate the final figure that you will need to pay. In a standard hospital birth, you will need to pay for the OB/GYN, your hospital stay, the baby's hospital stay, and for the pediatrician who visits the hospital to check up on your baby. For a normal vaginal birth with no complications, count on at least $10,000-$15,000. A C-section will add a few extra thousand dollars. Extras such as epidurals may add another thousand dollars or so. These costs vary greatly depending on the provider, so again, shop around! Let's assume that your after insurance out of pocket cost is $3000.
	Calculate how long it will be until delivery. If you haven't conceived yet, you may still have a lot of time, but start now! Let's assume you have 8 months until birth.
	Take the expected out of pocket expenses and add 20% (multiply by 1.2). For example, $3000 x 1.2 = $3600. Better safe than sorry. Now, divide that amount by the number of remaining months. In our example, there were 8 remaining months, so divide $3600 by 8 to get $450.
	Open a savings account and start putting the computed amount into that account each month. Many online savings accounts allow you to auto-draft money into your account. If you don't have the money, first eliminate excesses from your budget. You may be wasting more money than you first imagined. Also, if you have fancy, expensive cars that are carrying around big payments, sell them and get reasonable cars. You might also want to consider pausing retirement contributions, since a discount from the hospital might be far more valuable than the tax advantages of 401(k)'s and IRA's.
	After the baby arrives and the bill arrives, pay the bill early with your saved money.

• Your spouse could take on an extra delivering newspapers or pizza to earn the extra money needed each money for the coming baby.
• Extra work hours and overtime also provide good additional income. Depending on your boss, mentioning that you will soon be having a baby might earn you sympathy points.