Do you have maternity insurance?
The cost of pregnancy-related healthcare and medical bills has risen dramatically. The cost of a regular birth or caesarean section might range from Rs 60,000 to Rs 2 lakh. And money worries should be the last thing on your mind at this point. To be stress-free and enjoy this time without anxiety, it is recommended that you purchase maternity insurance and have frequent health check-ups. Getting maternity insurance should always be a top consideration if you decide to start a family. There are a few things you should be aware of when it comes to maternity health insurance.
While you can receive ordinary health insurance while pregnant, most companies consider pregnancy to be a pre-existing illness, so you won't be able to get maternity coverage. This implies that before you can get coverage under a maternity health insurance plan, you'll have to go through a waiting period Most insurance policies need a three-year waiting period before they cover pregnancy and maternity coverage.
Maternity coverage in health insurance policies must contain the following benefits, according to a circular from the Insurance Regulatory and Development Authority of India (IRDAI):
Hospitalization fees for maternity-related reasons will be paid for up to 30 days before to birth and up to 60 days after delivery.
Pre- and post-natal expenditures, as well as normal and caesarean deliveries, are included, as are any post-delivery difficulties for the mother.
The hospitalisation fee covers the cost of the room, nurse, and surgeon, as well as anaesthetic consultations, medical practitioner fees, and emergency ambulance fees.
Newborn baby coverage: Maternity insurance policies give coverage for newborn babies or neonatal care from the first day for up to 90 days. Such maternity health insurance policies claim to cover all of a newborn's needs, but it's critical to find out how your insurer handles complex births or early labour.
What Does Maternity Insurance Not Cover? While having maternity insurance has numerous advantages, there are a few things that it does not cover:
Pre-existing diseases that impact pregnancy: You will not be covered under maternity health insurance if you have a pre-existing ailment that might impair your pregnancy, such as high blood pressure or epilepsy.
Congenital illnesses are hereditary medical problems that manifest before or at birth in children, such as heart disease, Down syndrome, or spina bifida, and are not covered by maternity insurance.
Treatment costs for infertility: Maternity insurance does not cover IVF or other infertility therapies.
Aside from the ones recommended by the doctor, the following are the prices of medicine: Prescription medications prescribed by your doctor may be reimbursed by your maternity insurance. Other supplements or vitamins, on the other hand, may not be covered by maternity health insurance. Non-allopathic medications aren't covered either.
Expenses for a doctor's check-up and consultation: While you may see your OB-GYN on a regular basis during your pregnancy, these visits are not covered by maternity insurance.
While you may see your OB-GYN on a regular basis during your pregnancy, these visits are not covered by maternity insurance.
It's critical to understand how maternity coverage works in the context of health insurance.
A pregnancy-related health insurance plan's mandated waiting period might last anywhere from two to four years. As a result, it's critical to purchase maternity insurance ahead of time. If you've missed the boat, you might pay a higher premium for a separate maternity insurance plan.
The age of the insured wanting to claim maternity benefits under maternity health insurance can maximum be of 45 years. While most insurance companies designate this as the age limit for making maternity insurance claim, you should always verify with your provider for more precise rules. Be aware that the maternity health insurance policy's leniency may differ based on the expecting mother's age. So, when looking for the best maternity health insurance for you, be sure to examine the benefits of each plan in your individual situation.
The maternity insurance coverage premiums might be rather costly. This is because, unlike conventional health insurance, maternity and pregnancy benefits cover an essentially unavoidable event in one's life. Before deciding on the best maternity insurance plan for you, you should compare many possibilities and perform a cost-benefit analysis of each one.
Keeping all of these considerations in mind while purchasing maternity health insurance guarantees that your future planning is flawless. The main point of having maternity insurance as part of your health insurance coverage is to guarantee that you are as comfortable as possible throughout your pregnancy, with no unexpected stressors in the form of unanticipated bills. During this priceless period, your sole emphasis should be on the life-changing experience and your new baby.
Make sure you #ThinkAhead and get the appropriate maternity insurance coverage for you and your kid so you can prepare for their birth and future!
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