Maternity Planning
Planning for the Birth of a Child ?
How exciting. You are planning to have a child and want to be sure that the new Mom and baby will be adequately covered during and after the pregnancy.
Welcome to Michael Higgins Insurance. We are an independent medical insurance agency that has more than 30 years in the health insurance industry. We would like to introduce two Blue Cross Blue Shield of AZ health insurance plans for folks who are planning on adding a new member to the family. Learn which Blue Cross Blue Shield of AZ plan is better for you!
The first option is an individual HMO plan called Blue Secure. Maternity is a covered expense on this plan, though certain restrictions apply. Please note: you must not be currently pregnant when applying which means that the delivery of the child can not occur in the first twelve months from the policy’s effective date.
The second option is purchasing a high deductible HSA plan such as the Blue Portfolio policy. Since pregnancy expenses are generally considered “Qualified Medical Care Expenses” eligible for reimbursement from a Health Savings Account (HSA), purchasing a high deductible, low premium Health Savings Account qualified plan from Blue Cross® Blue Shield® of Arizona is a smart way to pay for the birth of a child. At Michael Higgins Insurance we like to say that HSAs are like IRAs for your health. You buy a high deductible, low premium health insurance plan, and then every month put the money you save into a tax-free savings account. When you need money to pay for your medical expenses, it comes out of the HSA account tax-free.
Here’s an example of how an HSA could work for your pregnancy. A family of three could save over $450 per month in premiums with a Blue Cross® Blue Shield® of Arizona HSA health plan. If a family puts $400 of those monthly cost savings into an HSA, in 12 months they would have $4,800 saved for the cost of the delivery. This is tax-free savings, so it’s like having an extra $1,584 in spending power (factoring a 33% tax rate).
Many local hospitals offer maternity packages. Purchasing one of these very affordable packages and paying for it with the funds in your HSA account may save you thousands of dollars. Lowering the cost of your Arizona health insurance as well as the cost of having a baby may be accomplished in three easy steps: Purchase a high deductible HSA plan such as BluePortfolio, purchase a discount maternity package from a local hospital, and receive substantial tax advantages by paying for these expenses with the HSA funds. CLICK HERE to view a list of participating hospitals offering maternity packages. Blue Cross Blue Shield of Arizona policyholder’s also have access to a cost comparison tool through their BlueNet online account. This tool allows them to compare pricing for maternity and many other medical procedures from most hospitals and facilities around the state. You may be surprised/shocked to learn just how much the prices vary from one hospital to the next, in some cases by thousands of dollars.
Blue Cross Blue Shield of Arizona PPO’s and HSA’s do not include maternity coverage as does the HMO plan BlueSecure, although pregnancy complications are covered.
If you have any questions, please contact Michael Higgins at 602.405.8769, or e-mail: info@higginscompanies.com
We look forward to hearing from you.
Please visit the links below for high-quality, affordable maternity care in Arizona.
Blue Cross® Blue Shield® of Arizona
www.azblue.com
azblue.com
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