Tips to manage pregnancy and post-delivery expenses

financialexpress.com:

Often pregnancy cost is not covered in health insurance at least for two years and in some cases it can be more. It becomes very challenging when you have to bear this cost entirely from your own pocket along with other medical expenses that you come across during this critical period. It is important to make a budget and plan your expenses in case your spouse is pregnant, and you are expecting delivery within a few months.

Managing pregnancy and post-delivery expenses can feel overwhelming, but with some planning and thoughtful strategies, it’s possible to navigate these financial challenges effectively.

Adhil Shetty, CEO, Bankbazaar.com, explains, “Create a budget, factoring in medical consultations, tests, supplements, and potential hospital fees. Consider health insurance coverage that includes maternity benefits or explore additional policies for comprehensive coverage. Explore hospitals and clinics offering maternity packages or payment plans, comparing costs and services. Start an emergency fund to cover unexpected medical expenses. These preparations will help you manage the cost.”

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Here are some tips to help you prepare for and manage these expenses:

Planning: Start by assessing your current financial situation. Create a budget that includes expenses related to prenatal care, doctor visits, supplements, and potential delivery costs. Factor in the loss of income if you or your partner plan to take time off work.

Review Your Health Insurance: Understand your health insurance coverage thoroughly. Check what prenatal and maternity services are covered, including ultrasounds, hospital stays, and postnatal care. Consider