If you have insurance coverage, your new baby will be automatically be covered on your plan as part of the delivery process, usually for the first 30 days. If you haven't already done so, I would strongly recommend that you contact your insurance carrier and let them know you are expecting a child. Insurance carriers will let you add your new baby to your coverage usually within a 30 day window from the time you have delivered. If you only have single coverage, it will likely make sense to expand it to a family plan rather than to obtain an entirely separate policy for your child.

If coverage is offered through your employer, check to see whether they have a specific procedure to add your new child. If you are already on a family plan, your baby will automatically become covered – just be sure to let the insurance company know when you deliver. Enjoy your new bundle of joy, and I hope he arrives right on time.

Answered by Marc Freedman, CFP, Certified Financial Planner Freedman Financial Associates, Inc.

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