Plan for Your Health - 'Bringing home baby' survey executive summary

Aetna and the Financial Planning Association surveyed 500 expectant mothers with health insurance about their attitudes and habits regarding planning and preparing for their new baby.

As they plan and prepare for their new baby, expectant mothers are much less likely to focus on health benefits compared to other aspects of baby planning:

• Only four percent of expectant mothers say they are most focused on reviewing health benefits in anticipation of baby.
  • Women under age 30 (5 percent) are slightly more likely than women age 30 and over (3 percent) to be most focused on researching health benefits.
• In comparison, nearly a quarter of expectant mothers (24 percent) say they are most focused on reading baby-related books and magazines.
  • First-time expectant mothers (35 percent) are more than twice as likely as expectant mothers with children (15 percent) to be most focused on reading baby-related books and magazines.
• Twenty-two percent say they are most focused on shopping for baby accessories and furniture.
  • Twenty-five percent of expectant mothers under age 30 say they are most focused on shopping for baby, compared to 20 percent of expectant mothers age 30 and over.
• Ten percent of expectant mothers say they are most focused on picking a name for baby.
  • Expectant mothers with children (18 percent) are much more likely to be most focused on picking a name for baby, compared to first-time expectant mothers (1 percent).

Nearly a quarter of expectant mothers (22 percent) are most focused on planning finances, in anticipation of their baby’s arrival. However, most of these women are likely not making the connection between financial planning and health benefits, as only four percent are most focused on researching health benefits.

The cost of welcoming home a new baby may prove to be a bit of a shock for the substantial number of expectant mothers who have not developed a new family budget:

• Nearly half (44 percent) of expectant mothers have not developed a new family budget to include expenses associated with having a new baby.
  • First-time expectant mothers (64 percent) are more likely than expectant mothers with children (49 percent) to develop a new budget.
  • In addition, expectant mothers under age 30 (61 percent) are more likely to develop a new budget than those 30 years or older (52 percent).

Among those who have developed a new budget, nearly all included daily expenses such as baby formula and diapers, but many neglected to include the costs of health benefits, noncovered medical expenses and other less obvious costs:

• More than a third (37 percent) of expectant mothers who develop a new budget neglect to include the cost of health benefits.
  • First-time expectant mothers (73 percent) are considerably more likely than expectant mothers with children (50 percent) to include this in the new budget.
• Similarly, 42 percent forget to include noncovered medical expenses in their new budget.
  • First-time expectant mothers (61 percent) are again more likely than expectant mothers with children (55 percent) to include this expense in the new budget.
• A majority (53 percent) also do not include the cost of life insurance.

Most expectant mothers have spent a substantial amount of time shopping for baby, picking a name and other planning activities; however, very few have taken time to review their health benefits:

• A substantial majority of expectant mothers (71 percent) say they have spent “no time at all” or less than one hour reviewing their health benefits.
  • Expectant mothers with children (82 percent) are considerably more likely than first-time expectant mothers (59 percent) to say they spend “no time at all” or less than an hour reviewing their health benefits.
  • First-time expectant mothers (80 percent) are nearly twice as likely as expectant mothers with children (44 percent) to spend five or more hours on this activity.
  • In addition, first-time expectant mothers (67 percent) are more than twice as likely as expectant mothers with children (31 percent) to spend more than eight hours reading baby-related books and magazines.
• Forty-three percent of expectant mothers say they have spent five or more hours shopping for baby accessories and furniture.
  • First-time expectant mothers (61 percent) are more than twice as likely as expectant mothers with children (28 percent) to spend five or more hours on this activity.
• Thirty-six percent of expectant mothers spend five hours or more picking a name for baby.
  About a third (32 percent) of expectant mothers say they spend five or more hours decorating the nursery.
  • Half of first-time expectant mothers say they have spent five or more hours decorating the nursery, compared to only 17 percent of expectant mothers with children.

A large majority of expectant mothers (71 percent) either underestimate or overestimate the average cost of a normal delivery, that is, an uncomplicated vaginal delivery at a hospital:

• Thirty-six percent of expectant mothers underestimate the cost of a normal delivery, believing it is less than $5,000. In fact, the average cost is $6,231 to $6,378, according to Aetna and the Health Insurance Association of America.¹
  • First-time expectant mothers (40 percent) are more likely than expectant mothers with children (33 percent) to underestimate the cost.
• Thirty-five percent of expectant mothers overestimate the cost of a normal delivery, believing it is more than $7,500.

While nearly all expectant mothers know if their health plan covers the costs of ultrasounds, prenatal visits, baby delivery and other traditional services, many are uncertain if new, cutting-edge services are included in their plans:

• Forty-four percent of expectant mothers do not know if genetic counseling is included in their health plan as a benefit.

Although very few expectant mothers have researched their health benefits, nearly all (93 percent) say they know how to add their new baby to their plan.
 

¹ Aetna average cost of $6,231, based on zip code 44101 (2004). Health Insurance Association of America average cost of $6,378 (1995).