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The cost of raising a child in America has soared (2018)

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Re: The cost of raising a child in America has soared (2018)

#41

Post by jelliclesfarm »

foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

I am very sorry that you have to deal with this while celebrating the birth of your children.

Have you considered legal help to navigate this and have someone advocate for you?

Re: The cost of raising a child in America has soared (2018)

#42

Post by whymsicalburito »

foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

Wow, that is a horrific situation, I truly hope it turns out well for your family. Does your policy have an out-of-pocket maximum? My HR department always gives us hypothetical situations and the out-of-pocket maximum is often portrayed as the saving grace that makes things like this not destroy your finances. Is this true or is my skepticism well placed?

Re: The cost of raising a child in America has soared (2018)

#43

Post by anonymoushn »

souprock wrote: post #36

Most of this is totally optional. I have a dozen kids, and I'm sure not spending that kind of money per kid. Births are usually cheap. You can go it alone for $0 or get a midwife for $2000 to $6000. Most of us have health insurance with an out-of-pocket maximum. For example, mine tops out around $11,000. Crazy bills can usually be negotiated, with the hospital very aware that you might just not pay at all. Child care…

I don't need a house for myself. I live in a small closet with my partner for $2500/mo. Houses start at $2 million.

Re: The cost of raising a child in America has soared (2018)

#44

Post by foxfired »

jelliclesfarm wrote: post #41
foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

I am very sorry that you have to deal with this while celebrating the birth of your children. Have you considered legal help to navigate this and have someone advocate for you?

We did, that's why today I am not as worried as I was in those first week. We were advised that, with the insurance and Medical, it's possible we won't have to pay a cent for the babies. My wife medical bills were more reasonable and we already managed to pay them.

Re: The cost of raising a child in America has soared (2018)

#45

Post by asark »

jelliclesfarm wrote: post #41
foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

I am very sorry that you have to deal with this while celebrating the birth of your children. Have you considered legal help to navigate this and have someone advocate for you?

State insurance & hospital regulators can sometimes be helpful. Might try your state senator or representative's office. Sometimes if the officials are feeling salty they'll get directly involved and fix things for you, but at least their offices usually point you in the right direction for further help.

Re: The cost of raising a child in America has soared (2018)

#46

Post by yinyinwu »

foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

I thought that insurance fees were capped at $7 - 10k even with high deductible plans. Even if the bill is split over two years, it's $20k.

How does the insurance bill end up being so high?

Re: The cost of raising a child in America has soared (2018)

#47

Post by munk-a »

foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

This is terrible and I feel for you... but you might have insurance kick in to help you out. The absolutely amoral thing here is that people without insurance (or poor coverage) can end up getting a debt like this placed fully on their shoulders and be chased by debt collection for the rest of their lives.

These costs were totally unreasonable, 35-50 dollars for a pacifier is just absurd and the fact that this price is hidden and reduced from most consumers means that it can continue being the sticker price.

America needs to seriously fix this BS.

Re: The cost of raising a child in America has soared (2018)

#48

Post by brianwawok »

namirez wrote: post #28
TuringNYC wrote: post #25

Earlier quoted context omitted.

Depending on where you live, the best public schools can often be accessed only by address, and are quite often limited to homes (not apartments). So yes, depending on where you live, housing costs are a big part of child raising costs.

> and are quite often limited to homes (not apartments) Interesting! I had never heard about this. Do you have a source for it?

In my city, I would imagine less than 10% in the good school district are renters. Maybe 40% at the mid level district and 70% at the bad district. Not sure how exactly to get this stat out, as it’s not directly reported. Qualifying for free lunch is reported, and the districts vary 10% vs 50%. From that you could maybe extract our rental vs owner rates.

Re: The cost of raising a child in America has soared (2018)

#49

Post by foxfired »

whymsicalburito wrote: post #42
foxfired wrote: post #39

In January of this year, I was blessed with two beautiful fraternal twins. Twins come out earlier and are expected to be preemies usually. The problem was, they were due on March 15. We spent two months in the NICU (newborn intensive care unit). The nurses couldn't be more amazing. They took care of those babies like they were their own. And along the way, they took care of us. They made sure nothing was ever missing…

Wow, that is a horrific situation, I truly hope it turns out well for your family. Does your policy have an out-of-pocket maximum? My HR department always gives us hypothetical situations and the out-of-pocket maximum is often portrayed as the saving grace that makes things like this not destroy your finances. Is this true or is my skepticism well placed?

The counselors at the hospital told me same thing. The out-of-pocket maximum was set to be $5,000 for the insurance. But they also gave us a ceiling (which I don't remember the exact amount at the moment).

I was advised that to get Medical which, I did right away, and it is supposed to be retroactive.

Re: The cost of raising a child in America has soared (2018)

#50

Post by rtio »

q845712 wrote: post #6

The article points to housing as one of the largest factors of raising a child, and mentions healthcare as well. To my very limited understanding, we calculate inflation from some fixed [per comments below: not entirely fixed] index of consumer goods prices [per comments below: which include some notional aggregate of rent]. Is it possible that instead of saying "The cost of children, housing, healthcare, and educati…

I am not sure it is really inflation though, since it seems to be more a factor of wealth inequality. If you have a million, or even a couple of hundred thousand, dollars life might not be that expensive month to month.
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