Getting news of pregnancy is the happiest news for parents-to-be as this chapter of life gives you joy and excitement and also comes with various responsibilities. But also we can not deny the fact that medical costs are increasing by 25% annually, which you can not easily handle, and this will turn the happy moments into stressful conditions. Hence, it is advisable to take maternity health insurance.
Maternity insurance is the insurance coverage that females receive for medical expenditures associated with pregnancy as well as post-pregnancy operations and treatments. Corporate firms now provide similar benefits to their female employees by subscribing to maternity insurance policies. However, these insurance often have a predetermined upper amount; if it is exceeded, the mother must pay out of herself.
Who can opt For maternity insurance plans?
Couples who are thinking of starting a family can opt for maternity health insurance plans. The following couples can seek maternity coverage:-
1) Couples Who Have Just Married: Couples who have recently married and plan to have a child within the next few years should consider purchasing maternity insurance to cover the waiting period in medical insurance.
2) Couples Thinking About Having Children: People who have reached the point in their marriage where they want to consider having a child.
3) Couples Considering Having a Second Child: Couples who already have a child and wish to obtain insurance before having another.
4) Couples who want to have kids in the future: Couples who do not intend to conceive any time soon but would like to be covered for a future pregnancy.
Eligibility criteria
In the midst of all the happiness and joy that comes with pregnancy and parenting, there is always the fear of large medical expenses. Check the following eligibility criteria before enrolling in maternity insurance plans:
1. Pregnant women require round-the-clock medical care and attention, from routine exams to hospitalization.
2. The requirements for obtaining maternity insurance vary depending on the insurance company.
3. The minimum age for obtaining maternity insurance is 18, and the maximum age is 45.
4. The maternity coverage waiting period ranges from nine months to six consecutive insurance plan years.
When the waiting period expires, you may begin using the insurance policy’s benefits.
What is to be covered under Maternity coverage?
Key points to consider before availing of the maternity insurance policy:-
1) Daycare Treatments- Pregnancy health insurance covers daycare treatments, allowing would-be moms to receive prompt treatment without being sent to the hospital for 24 hours or more.
2) Comprehensive Coverage- The first thing you should look for in the plan is comprehensive coverage. An insured woman can claim and get coverage for pre-post hospitalization, medical bills, consulting fees, and many more.
3) Advanced Technology Methods- There is no longer any dread in the labor room with the help of modern technologies. Choose a policy that offers modern technological approaches to help you deliver a baby safely.
4) Waiting Time- Pregnancy health insurance has a waiting period that can range from 9 to 24 months. It is the period during which moms cannot claim the policy’s coverage. So choose the best health insurance with maternity leave.
5) Covers Pre-Post Hospitalisation – The delivery charges and other pre & post-hospitalization expenses put a financial burden on the couple. Under health insurance for pregnancy, medical expenses for 30 days before and 60 days after the hospitalization are admissible. So, you should take the plan that offers pre- and post-hospitalization coverage so that you can manage other financial responsibilities.
Benefits of having maternity coverage in Health Insurance
Having a maternity cover avoids stress, and you will take full care of being a mother. Some other benefits of taking maternity insurance are:-
1) Helpful in Complication Situation:
In the case of difficulty, such as premature birth, a newborn has to be placed in an incubator for some time. The cost of such treatment might exceed Rs. 10,000 per day. These are unforeseeable occurrences that might become more stressful as a result of the costs. A decent maternity insurance plan might provide some financial relief by covering the majority of the expenditures.
2) Unanticipated expenses:
Complications during pregnancy may include anemia, high blood pressure, infections, early birth, and other issues. If the baby is born prematurely, he or she may need special care in the hospital for a few days. In such cases, the newborn is kept in an incubator, which can be costly daily. However, if you have maternity insurance, the insurance company will cover these unforeseen expenses, saving you from financial hardship.
3) Cashless claim facility:
Maternity health insurance policies also provide for cashless treatment at network hospitals around the country. If you are admitted to a network hospital, you can receive exceptional care without having to worry about the cost. All you need to do is notify your insurance provider ahead of time, and they will do the rest. A cashless facility also reduces your headache of submitting reimbursement claims.
4) Coverage from the first day:
Health insurance coverage does not cover newborn newborns until they reach the age of 90 days. On the other hand, a maternity insurance policy covers the newborn infant from birth.
5) Financial Backup:
Maternity insurance serves as a financial backup by covering normal and cesarean birth expenditures. So no matter what sort of surgery is required, you won’t be concerned about the cost. Furthermore, some plans cover pre- and post-hospitalization charges, with all types of pre-hospitalization expenses covered for up to 30 days and post-hospitalization expenses for up to 60 days. Furthermore, health insurance with maternity cover allows medical expenditures such as surgeon’s fees, doctor’s consultation fees, hotel charges, and nursing.
Conclusion
Maternity insurance is essential for financial security throughout pregnancy and after childbirth. You must, however, purchase the coverage in advance so that the waiting period is completed by the time the kid is conceived. With maternity health insurance, you can better take care of your child and mother and pay your medical bills without disturbing you much. All you have to do is inform the insurance company before admitting a to-be-mother to the network hospital, and then all you can do is enjoy your parenthood.