Family planning

MONEY MATTERS

Becoming a parent is a great feeling, but doing the numbers well in advance will save you a lot on the expenses front.

When the stork visited Zarine Shah seven years back, nothing could have prepared her for the mental ordeal she went through.

An unexpected case of Toxaemia (a condition where the baby growth suffers due to the mother's rising blood pressure) saw her undergoing premature delivery in the 30th week of pregnancy, instead of the normal 38th week.

The specialised treatment needed for her baby post-delivery meant opting for Bombay Hospital, instead of the regular Worli clinic she had been registered with.

However, there was more trouble to be endured on the financial front as well. The hospital bills sky rocketed to around Rs 3 lakh, something the family was not prepared for.

Also a terrible truth dawned on the family, "While the hospital would present a bill every 5 days and expect it to be cleared, My mediclaim policy did not cover any pregnancy-related costs", says an exasperated Shah.

Of course, while everyone does not goes through such a troubled pregnancy, it's important to remember that your finances have to be in shape, to ensure that the family does not go through any hardship during this critical period. There would be bills, bills and more bills, but at the end of the day it is also a moment that you will always cherish.

The billing process starts with the first visit to a doctor. For then onwards, there would be expenditures incurred on clinics, sonography and ... the list goes on.

There are various options available in terms of clinics that promise from a simple, semi luxurious to luxurious ambience during the pre-and post-natal stage. An expense sheet (on the higher side), would read something like this:

Consultations: Charges are generally higher for the first visit. Once the patient registers with the clinic, consultations become a part of the package deal.

Medicines: Even if you are feeling really great, a daily intake of extra vitamins and iron supplements are an absolute must. Add to this, tablets that will help you battle morning sickness.

Triple Marker and routine blood test: Triple Marker test is recommended between the 16th to 20th weeks during pregnancy, especially for those undergoing late pregnancy. The test primarily checks for any potential genetic disorder.

In the later months, a bigger amount needs to be kept aside for hospital stay, once the baby has been delivered. "This is when the patient's family needs to have liquid cash with it, since bigger payments need to be made at one go. Also, they have to be ready for any emergencies, that could arise", says Dr Falguni Sanjanwala, Gynaecologist Obstetrician, Suarabh Clinic.

That means another list of expected expenses that one needs to take into account for the few days, which the prospective mother spends at the hospital.

Room charges: In most cases, women check-in, only once they experience labour pains. Thus, their total stay would not go beyond 4 days, including 3 days of post natal care.

Cost: Rs 1,000 onwards
Doctor's fees: Will depend on the experience he brings, since it may actually affect the last minute decisions he takes like the need to go in for a C-Section delivery.

Cost = Rs 10,000 onwards
C- Section delivery: The doctor's charges may go up. Cost = Rs 10,000 or more Labour room charges: Yes, this too is calculated apart from the room charges.

Cost = Rs 4,000 onwards
Anaesthetist: Has to be on standby and called for as and when required.

Cost = Rs 2,000 onwards
Post natal care would include the last phase of the patient's hospital stay. With the baby still in the hands of the hospital staff, this is good time for the mother to recuperate. Most hospitals have on duty pediatricians to check on the baby's health.

Pediatrician cost = Rs 500 onwards

Baby care charges = Rs 200 onwards

Planning a baby also means planning financially for all that will follow. Financial experts advocate adopting a savings strategy that will allow you to retrieve a good amount of liquid cash without any hassles.

It would be a good idea to understand the possible financial costs from the doctor during the early stages itself so as to be ready when the big day finally arrives.

Though Mediclaim and other health polices do not cover pregnancy related costs, a number of corporates have tie-ups with health management companies to reimburse pregnancy-related costs to their employees.

Investment planner Deepak Khanna, however, cautions, "Just how much is and what is covered under these schemes could differ from company to company. Employees should be aware of the finer details, before they actually begin their maternity leave".

In the excitement about the new arrival, it is easy to forget that a baby also means an increase in expenses, even before he/she is born. If money is the last thing you want to be thinking about when you are holding the little bundle of joy in your arms, start your calculations now.