A family health plan that covers maternity insurance ensures that the family goes through a hassle free pregnancy especially when it comes to the financial aspects of the same. Each event in our life comes with expenses attached to it and the pregnancy period is no exception. This often comes at a price with the aggravating expenses of good medical treatment, regular diagnostic tests, appropriate medicines, the charges of hospitalization, expenses of delivery and vaccination cost. A good insurance plan covering maternity must offer some of these above mentioned vital costs that will be further explained in details that are attached to pregnancy as every couple looks at having a healthy family.
1. Coverage Expenses
- Hospitalization Expenses – The charges attached to getting admitted to a good hospital at the time of delivery along with the charges of a surgeon, a nurse, and an ambulance are covered in this. It is however not just limited to these few aspects.
- Pre and Post Hospitalization Expenses – These expenses come into play 30 days before the mother is hospitalized and usually extends up to 60 days after the discharge of the baby and the mother. This usually covers the pre-consultation expenses, diagnostic tests, and medicines, if any. Once the mother and the baby have been discharged, they often might need to come up for regular checkups for which the expenses are covered in this. This is a larger spectrum is also known as pre and postnatal expenses.
- Newborn Baby Coverage – Some maternity plans cover this expense up to 90 days since the birth of the baby while others might cover this for a long time depending upon which is opted for. This usually covers the vaccination costs and other costs related to diagnostic tests and medicines that might be needed for the child. Complications, if any, occurring to the baby are also covered under this.
2. Inbuilt or Add on Benefit
An insurance plan covering maternity is either inbuilt in the health insurance plan or is offered as an added benefit along with your chosen health plan. When it is offered as an added benefit it is usually after an added premium is paid.
3. Waiting Period
An insurance plan covering maternity does not come into play as soon as the plan is taken but has a waiting period attached to it. This waiting period to avail the benefits extends between 2-4 years provided there is continuous policy coverage. It is advisable to take a plan well in advance so as to not face hassles during the time of planning a family.
4. Sub Limits
Any policy covering health insurance that provides maternity benefits usually puts a limit on the amount that will be covered under the maternity related expenses. The entire amount that has been availed towards this purpose is not available for consumption. It is recommended to check the percentage on the sub-limit of the amount that will be covered before a health insurance plan is purchased.
5. Insurance Premium
A health plan that covers maternity is usually more expensive as compared to other health insurance plans as the premium charger by the insurer is on the higher side. An in depth analysis of cost-benefit must be carried out by the family.
There are certain exclusions and exemptions that are a part of plans offered by different companies and a basic knowledge of the above points should be kept in mind while choosing an appropriate and beneficial plan.