The feeling of motherhood certainly brings great happiness and enthusiasm, but it also brings you many responsibilities as a parent. The cost of health care is increasing at a fast pace, so it is necessary to be careful about the extra expenses that are being taken during delivery. Maternity insurance cover, i.e. Maternity Medical Insurance, is a better solution for this purpose. Now you might be wondering how much does insurance cover pregnancy or what maternity insurance really is.
If you are worried about how much does insurance cover pregnancy then do not worry as we have come with all the answers in this article below. Since pregnancy, having a healthy pregnancy with regular medical diagnostic tests, medicines, hospital expenses, delivery expenses, etc. is not less than a challenge.
To handle these expenses like a pro you will need a maternity insurance policy. So, let’s know what maternity medical insurance is and how much does insurance cover pregnancy? Here we go…
What Is Maternity Medical Insurance Policy?
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Maternity insurance plans are special schemes that especially cover maternity related expenses. Companies related to health and general companies give a mother a chance to make health security and future improvements. Through these insurance plans, the mother can do family planning and financially can afford her parental control without any tension.
In fact, insurance companies keep maternity coverage as a rider in the life insurance package. Some companies charge an extra premium for this, so check how much does insurance cover pregnancy and how much it charges before you opt for buying insurance.
How Much Does Insurance Cover Pregnancy?
As you already know what maternity medical insurance policy is, now it is time to discuss how much does insurance cover pregnancy? Let’s now know in details about the maternity insurance cover:
Hospital Recruitment Expenses:
Hospital expenses such as nursing, anesthetists / medical practitioners/surgeon fees, ambulance fees, etc., for at least 24 hours continuous stay are get covered under the maternity medical insurance policy.
Pre & Post Hospitalization Expenses:
Medical expenditure 30 days before admission to hospital, examinations, medicines, consultation fees, etc. are included in it. The hospital usually includes expenses for follow-up visits, etc. for post-discharge of 60 days.
Expenses Before & After Birth:
Provides cost related to ultrasound, medicines, doctor’s consultation fees, and regular check-up under the maternity insurance policy. This includes expenses for pre and post-delivery therapy and cares for the mother.
Newborn Baby Cover:
It can be available from 1 day to 90 days of the newborn baby. This includes expenses related to the child’s health care needs to the extent specified under the policy.
Ambulance Expenses:
Ambulance Expenses are also included in Maternity Insurance Plans.
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What Does Not Include In The Maternity Insurance?
In order to take advantage of Maturity Insurance, the age of the person who buys the policy has to be below 45 years. Individual more than 45 years is not eligible for this insurance type.
If the womb falls within 12 weeks of pregnancy, then the cost of treatment associated with it is not included in the insurance
The expenses incurred on giving birth to a child by taking pregnancy from the normal method (test tube baby or surrogacy) are also not included in this insurance.
Calculation Of Premium In Maternity Insurance:
Normally, the premium for the Maternity Insurance scheme is slightly higher than a health insurance plan. The reason for this is that due to the certainty of risk in this insurance plan, there is also the certainty of claim application by the insured.
Therefore, the premium of this insurance plan is determined by the insurance company at a higher rate. That is why it is in your best interest that before you take the Maternity Insurance Plan, you have to assess the cost and needs of all your expenses and needs and do cost analysis by analyzing it in every possible manner.
In the collective insurance scheme given by the company, the company also protects the delivery expenses, so take a good look at all aspects to know how much does insurance cover pregnancy before taking a new insurance plan.
Maternity Insurance & Waiting Period:
Most insurance companies give the benefits of maternity insurance only after a certain waiting period. This period can be from 9 months to 36 months.
So if you want to purchase the Maternity Insurance plan then go through the terms and conditions of the policy cover and check how much does insurance cover pregnancy and then buy it.
SUMMARY:
Before buying a policy, make sure that you have read well about all the features, benefits, durations and conditions. It is important to understand the benefits, costs, coverage, exemption, etc. under the maternity cover as a whole. Also, check the authenticity of the policy giving entity.