It’s that season once more when businesses open up their employee benefits renewal phase, providing the chance to retain current health insurance or move to an alternative plan. I’ve shared previously about preferring a more expensive health insurance package, but upcoming family planning has influenced our perspective. My husband and I are certainly planning to have a child, albeit without a firm timeline, perhaps within one or two years. Consequently, the decision to expand our family plays a significant role in our health insurance selection.
Pregnancy and PPO Insurance
A PPO policy offers the advantage of choosing any doctor within your network, which is usually much broader than an HMO network. The drawback with PPO for expectant mothers, however, is the 20% copayment for all maternity care and hospital expenses, on top of the deductible. It’s critical to consider your maximum out-of-pocket costs since unforeseen medical needs or a high-risk pregnancy could leave you responsible for realizing this maximum. PPOs often come with higher premiums than HMOs leading to greater out-of-pocket expenses. For instance, our PPO plan costs $120 per paycheck, compared to an HMO at $15 per paycheck.
Pregnancy and HMO Insurance
The benefit of an HMO plan lies in its cost. It usually has lower premiums than a PPO, dependent on the employer. Many HMO policies completely or significantly cover maternity care costs. The downside of an HMO during pregnancy is the network restriction; you are limited to your primary care physician who must be within your network.
PPO vs. HMO: Our Decision
I was initially very enthusiastic about using midwives since I have an inherent fear of hospitals. Ultimately, I was more concerned about potentially facing an $8,000 bill if something went amiss. Thus, we opted for the HMO. We’ll be saving $200 monthly on health insurance premiums, on top of free maternity care services. This decision brought me tranquility since I did not want to burden myself with this thought while expecting. Stress during pregnancy is harmful to the baby, so the more satisfied I am with my health insurance, the less likely any complications will arise. Only time will reveal if this decision was judicious, but for now, I am entirely content with it. In addition to this, I also plan to reduce stress levels through activities like exercising, yoga practice, occasional massages from my husband, and sipping green tea.
