Congratulations!
If there is a baby on the way, you may be like many new parents who,
though filled with wonder and anticipation, marvel at how something
so small can require so much preparation, adjustment and equipment.
When you are expecting, both mom and dad have many questions
about the new arrival and perhaps only a short time to find the
answers. New parents face more issues than they might first expect,
including everything from preparing for baby’s actual arrival,
through birth or adoption, to creating a healthy and safe environment
in which to care for your child.
This article is designed to help you plan and prepare yourself
and your home for the arrival of the newest family member.
Assessing ResourcesThe first step in preparing for a
baby is to identify and assess what resources you
have available.
Medical Insurance
Review your medical insurance coverage regarding prenatal care
and childbirth costs.
- If your pregnancy will
go past the anniversary date of the policy, you
may have to meet another deductible.
- Confirm now what your insurance policy covers for your
baby’s care. Most companies require you to add your baby to
the policy within 30 days of birth or adoption.
Employment Leave
If you are employed, be sure you understand all employee
benefits that are available to you.
- The federal Family
Medical Leave Act (FMLA) allows eligible
employees who work for a company of 50 or more
employees to take up to 12 weeks of unpaid leave
for the birth or adoption of a child.
- Besides FMLA, some
companies also offer more generous benefits
concerning maternity and paternity leave.
- Confirm that you are eligible to receive disability
payments during your leave.
Returning To Work
There are many things to consider when parents will be
working outside the home.
- Talk to your employer or
manager about work arrangements. Some employers
will offer flexible work schedules, such as
part-time hours, job sharing and telecommuting,
that may lower stress, reduce your time away
from home and decrease child-care costs.
- Inquire about nursing
mother rooms and lactation programs offered at
work.
- Child care can be a challenging decision for parents working
outside the home. Finding quality and affordable child care takes
some research on your part. Begin your search months before you
will need it.
The USAA Educational Foundation publication,
Balancing Family And Career,
offers more information.
Financial Considerations
- If you do not already have an emergency fund, start building
one now. Financial experts recommend saving 3 to 6 months of basic
living expenses.
Taking Care Of Business
As you spread the news to family and friends of your new arrival,
do not forget to update insurance polices and notify the
Internal Revenue Service (IRS). Use the
Taking Care Of Business checklist as a guide.
Topics covered in this section are:
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Education
