What's a Deductible?

I wanted to title this reel “How to save $10,000 when you have a baby,” but that seemed too clicky baity even though it’s true. I changed my insurance plan with my first kid to a $0 deductible plan. It was like $100 more a month and she was born in June so I paid like $600 more. But when she was born I think I paid less than $2,000 for a 4-night hospital stay and C-section. My second kid was born in December so I didn’t get pregnant until after open enrollment, which meant I couldn’t change my policy, and had a $10,000 deductible. Because I hadn’t had any other major health costs the year she was born I hadn’t made a dent in our deductible and we had at least $12,000 in bills.
Go talk to HR TODAY because open enrollment likely closes any day and once it does, you’re stuck with your plan until the next open enrollment or until you have a qualifying life event like having a baby, but the damage to your bank account will already be done.
And it should go without saying, but talk to your HR person, accountant, attorney, hairdresser, and landscaper before you make any decisions on your health insurance because everyone’s situation is different.
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