Maternity Leave Pay – The U.S. doesn’t have paid maternity leave while the rest of the industrialized world experiences weeks or months of completely paid, job protected leave. Your growing family budget might be stretched to the maximum, before factoring in a loss of income. There are four things you certainly can do to create some maternity leave pay of your own: request Uncle Sam to pick up the bill, solicit state pregnancy benefits, purchase short-term disability, and buy hospital indemnity insurance in case your employer does not provide paid leave.
How to Create Create Maternity Leave Pay
Uncle Sam Provides Maternity Leave Pay
The introduction to this post said that the U.S. doesn’t have paid maternity leave laws, but Uncle Sam is happy to provide maternity pay to those bright enough to take advantage. Ben said this social security, and of course long before the arrival of federal and state income taxes. Consider a couple in the 25% federal tax bracket, paying state income taxes, and paying FICA taxes of 7.65%. This couple must bring in $1.50 in order to take home $1. Anything pregnancy associated that saves taxes creates maternity leave pay.
Women can create considerable un- . Estimate the sum of these expenses and make a corresponding election into your Flexible Spending Account (FSA). Any money funneled into this account reduces the amount of state, federal, and FICA taxes. Many insurance plans now come with coinsurance, co pays, and deductibles which could be paid using your FSA.
If your baby is born with developmental disabilities or health problems you may have unexpected bills. Your child’s arrival is a life event, allowing you to make changes during the plan year. When you’re ready to go back to work, you may be utilizing child care.
Tap State Maternity Benefits
Five states have mandated short term disability insurance which covers your ordinary labor and delivery, sometimes several weeks in advance of your delivery, and always for any pregnancy related complications which may cause added time away from the occupation. Should you work in one of these states contact the state office for more information.
Two states offer paid family leave benefits that allow for an added six weeks of paid leave in order that you can bond with your baby. New Jersey and California both supply this benefit as an expansion of the state handicap program.
Buy short-term Disability Insurance
Purchase short term disability insurance before becoming pregnant and create maternity leave pay for yourself, and added protection in the event of postpartum disorders, complications, accidents, and illnesses. Short-term disability pays a six week benefit for vaginal birth, and an eight week benefit for c section delivery – less the removal period.
Purchase Hospital Indemnity Insurance
In the U.S. most babies are delivered in a hospital. Buying an insurance plan that pays a benefit directly to the insured upon hospital entrance is another way to produce maternity leave pay. Hospital indemnity insurance covers the admission of mother to the hospital for ordinary labour and delivery. The benefit is paid to the insured regardless of what the underlying major medical insurance does or will not insure. The premium paid, creating maternity leave pay may be greatly exceeded by the advantage for regular delivery.
Article publié pour la première fois le 09/09/2015