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Keep Baby and Family Benefits in Check

Since having a baby is different for everyone, preparing for the arrival of your little one can be overwhelming whether you are adopting or having a baby. Here are two checklists to make health benefits and financial planning a little easier.

Expectant Family — Health Benefits and Financial Planning Checklist
Adoptive Family — Health Benefits and Financial Planning Checklist

Expectant Family — Health Benefits and Financial Planning Checklist

• Create a budget and start saving before your baby arrives. Short-term expenses to consider may include child birth costs, diapers, formula and day care, but it's never too early to start a college fund too.
• If you a have a financial planner, meet with him or her to discuss a new family budget.
• Call your health insurance provider to let them know you are pregnant, and to learn about your maternity benefits and when you should add your new baby to the family health insurance plan. Check with your health plan about coverage for services important to you, whether it's child birthing classes, doula services or lactation consultants.
• Compare health plans. If you are married, and you and your spouse are covered under separate health care plans, determine which offers the best coverage for your baby. Once you choose the best plan, find out when you will need to declare your child as a dependant on the policy. Most employers allow for the addition of a new baby as a dependant outside the annual Open Enrollment period. Keep in mind, though, that there is generally a limited window for this addition.
• Contact your employer's Human Resources department to learn about additional benefits they may offer, including time off, wellness programs and even breastfeeding support programs.
• Choose a doctor and hospital to deliver your baby. Be sure to find out whether or not they are part of your health plan's network.
• Learn about Flexible Spending Accounts. Some employers offer health care and dependent care spending accounts that allow you to set aside pre-tax dollars to pay for out-of-pocket health care and dependent care expenses.
• Sign up for local child birth classes and talk to other new parents for first-hand advice on handling newborns.
• Pick a pediatrician to care for your baby after birth. Click here for Tips on Finding and Interviewing a Pediatrician.
• Talk to your doctor about metabolic screening for newborns. It is a simple procedure that uses one drop of your baby's blood to determine their risk for contracting a number of inherited disorders.
• Schedule your baby's vaccinations and immunizations for health protection, especially for newborns. Most babies begin an immunization schedule within a few weeks of birth, so talk to your pediatrician about when to make your first appointment.
• Find out your options early. Some new moms suffer from postpartum depression and need counseling. Find out what your health benefits or Employee Assistance Program covers. Talk to your doctor or hospital about what programs and services are available.

Adoptive Family — Health Benefits and Financial Planning Checklist

• Create a budget and start saving before your child arrives. Short-term expenses to consider may include travel, medical and hospital fees for surrogate mothers, diapers, formula and day care. It's never too early to start a college fund too.
• If you a have a financial planner, meet with him or her to discuss a new family budget.
• Call your health insurance provider to let them know you are planning to adopt, and find out when you should add your new baby to the family health insurance plan.
• Compare health plans. If you are married, and you and your spouse are covered under separate health care plans, determine which offers the best coverage for your child. Once you choose the best plan, find out when you will need to declare your child as a dependant on the policy. Most employers allow for the addition of a new child as a dependant outside the annual Open Enrollment period. Keep in mind, though, that there is generally a limited window for this addition.
• Contact your employer's Human Resources department to find out what benefits are available to you and your adopted child. These may include time off to care for your new addition or even financial assistance with adoption expenses.
• Consider Flexible Spending Accounts. Some employers offer health care and dependent care spending accounts that allow you to set aside pre-tax dollars to pay for out-of-pocket health care and dependent care expenses. Check with your employer about options and deadlines for enrollment.
• Talk to other adoptive families to get first-hand advice on what to expect. Begin by checking out online resources. There are often extensive networks where adoptive families can share information.
• Pick a pediatrician to care for your child. Click here for Tips on Finding and Interviewing a Pediatrician.
• Talk to your doctor about metabolic screening for newborns. It is a simple procedure that uses one drop of your baby's blood to determine their risk for contracting a number of inherited disorders. This can prove especially important for adopted children whose hereditary risks might be unknown.
• Schedule your child's vaccinations and immunizations for health protection, especially for newborns. Most babies begin an immunization schedule within a few weeks of birth, but if you're adopting an older infant or child abroad it is important to note that not all countries have the same vaccination and immunization standards. Talk to your pediatrician about where to begin if you are uncertain about your adopted child's early immunization records.
• Find out your options early. Some children and families may need counseling to adjust to the new family situation. Adopted children may have adjustment needs for a variety of reasons, such as an international move, history of abuse or neglect, separation from siblings or removal from a foster home.

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